Property Detail

Description

6924 Woodman Avenue, a non-RSO 12-unit multifamily investment opportunity located in the vibrant neighborhood of Van Nuys, CA 91405. Built in 1989, the 11,258 SF property is situated on a 16,425 SF LAR3-zoned lot and is not subject to the Los Angeles Rent Stabilization Ordinance (RSO), offering investors greater flexibility in rent growth and repositioning strategies. The three-story building comprises 12 units, including (2) one-bedroom/one-bath units and (10) two-bedroom/two-bath units, along with 24 on-site parking spaces and fee simple ownership. The property has been recently improved with a brand-new roof, new boiler, and copper plumbing throughout, significantly reducing near-term maintenance costs and ensuring long-term operational efficiency. Three washers and two dryers, owned by the property, generate additional income and enhance tenant convenience. Furthermore, the building is fully compliant with SB-721 balcony and deck inspection requirements, eliminating future compliance costs for ownership. Ideally located in Van Nuys, one of the San Fernando Valley's most accessible and established rental submarkets, residents benefit from proximity to major employment centers, transit corridors, schools, and entertainment destinations across Los Angeles. With its desirable construction vintage, modern upgrades, and strong physical fundamentals, 6924 Woodman Avenue offers investors a stabilized, low-maintenance multifamily asset with both income stability and long-term growth potential in a prime Los Angeles location.