Ignite FB Tracking Pixel6948 N Woodman Avenue, Van Nuys, CA 91405 - Nicole Grey
Pinnacle Estate Properties, Inc.
Nicole Grey, Pinnacle Estate Properties, Inc.Phone: (818) 469-5007
Email: [email protected]
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listing
1 of 5
LandFor Sale
$3,195,000
6948 N Woodman Avenue
Van Nuys, CA 91405
Listed by Elham Khani DRE#01989596 [email protected] Coldwell Banker Realty
MLS: California Regional MLS (CRMLS)
19,961Sq Ft
Est. Mortgage
$16,592/mo

Consider the option to construct or establish a new nursery in Valley Glen, a highly sought-after area in Van Nuys for both multifamily and office developments. This presents an exceptional investment prospect for experienced investors and developers. The property is already set for development, boasting plans for a luxurious apartment complex consisting of 23 units spanning 31,150 square feet, along with an additional 1,200-square-foot ADU. The unit composition is diverse, featuring twenty 2-bedroom + 2-bathroom units and three 3-bedroom + 2-bathroom units, including two designated for low-income residents. Projections indicate an impressive annual gross income of $796,536. The lot, measuring 19,961 square feet, is zoned as R3 (16,817.33 square feet) and R1 (3,151.3 square feet). Market rental rates average $2.58 per square foot. Parking is ample, with a 14,566-square-foot area providing space for 36 vehicles. The average unit size is 1,132 square feet.

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Information courtesy of Coldwell Banker Realty is subject to verification and is not guaranteed.
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