Rare LAR3 zoned development or value-add income opportunity in a prime pocket of Van Nuys. This property features four 2-bedroom, 1-bathroom cottage-style units, with three of the buildings detached, each offering private entry and attached 1-car garage and situated on an oversized 10,104 sq ft lot measuring approximately 50 feet wide by 202 feet deep. The rear unit enjoys a large private backyard, ideal for owner-users or premium tenants. All units are currently occupied on month-to-month leases, generating $6,400 per month with market rents supporting potential income of $9,500 per month and representing nearly 48% upside for investors seeking immediate value-add potential. Separate gas and electric meters add flexibility for long-term investors, developers, or owner-users. The highly desirable LAR3 zoning provides multiple exit strategies, including redevelopment, small lot subdivision, or ADU expansion potential (buyer to verify). Conveniently located south of Victory Blvd and east of Van Nuys Blvd, with close proximity to freeways, schools, retail, and major employment hubs.
For sale
Listing Provided by:
Samuel Woldeyesus DRE #01915193 949-689-1558,
Compass
Price cut: $46K (7/15)
$1,349,000
6240 Hazeltine Ave, Van Nuys, CA 91401
8beds
4baths
2,784sqft
Est.:
Quadruplex
Built in 1955
-- sqft lot
$1,292,700 Zestimate®
$485/sqft
$-- HOA
What's special
Private entryLarge private backyard
- 51 days
- on Zillow |
- 170 |
- 5 |
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