$2,350,000 Price Analysis   ♡   Winnetka, CA 91306 Unknown bed 98 bath 11,004 SqFt ($213/SqFt) 0.38 acre lot. Built 1958 Listed 2024-07-01, Taxes $10,391 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Great potential plus 14 unit West Valley apartmnt complex lies on a desirable cul-de-sac street off Mason and Vanowen in the suburb of Winnetka
North of Warner Center in the San Fernando Valley represents one of the most economic deals on the market. A 2 story, 2 building complex built in 1958, is a fantastic value add opportunity with rents that are almost 50% below market and the soft story construction completed. 50/50 1 and 2 bedroom mix. Priced to sell, this asset can increase in cash flow with improved management and exterior upgrades. Ample parking in the rear for 14 spaces with lots of street parking.
Property offers laundry on site, courtyard and open grassy areas for great curb appeal. This location sits near Warner Center employment hub, future Los Angeles Rams headquarters and training facility and major employers such as Kaiser, Blue Shield, Anthem, Farmers Insurance and Universal Music. Every convenience including banking, grocery shopping, to Crate and Barrel, Target and AMC theaters, Westfield Mall, Nordstrom, Neiman Marcus and Cheesecake Factory, making the subject property an affordable option for employees in this market sector.
Presented by Anngel Benoun at
Engel & Volkers Encino.
Property MLS #SR24134532 from CRMLS
Garage Spaces: 2
Parking Features: Parking YN: Yes, Parking Features: Carport
Parking Total: 14
Lot Size Acres: 0.3753
Lot Size Source: Assessor
Lot Size Square Feet: 16346
Bedrooms in Unit-1: 7
Bedrooms in Unit-2: 14
Total Bathrooms in Unit-1: 7
Total Bathrooms in Unit-2: 7
Unit-1 Garage Spaces: 1
Unit-2 Garage Spaces: 1
Tenant Pays: Electricity, Gas
Rent Control: Yes
County: Los Angeles
Cap Rate: 4.16
Source Property Type: Residential Income
Insurance Expense: 7996.00
Area: WIN - Winnetka
Source Neighborhood: WIN - Winnetka
Number of Separate Electric Meters: 14
Number of Separate Gas Meters: 14
Number of Separate Water Meters: 14
Parcel Number: 2137030039
Postal Code Plus 4: 3804
Professional Management Expense: 7160.00
Trash Expense: 6653.00
Zoning: LAR3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $421,022 + $295,451 $716,473 | $10,391 |
| 2021 | $412,767 + $289,658 $702,425 | $10,213 |
| 2020 | $408,535 + $286,688 $695,223 | $10,292 |
| 2019 | $400,525 + $281,067 $681,592 | $9,951 |
| 2018 | $392,672 + $275,556 $668,228 | $9,652 |
| 2017 | $384,973 + $270,153 $655,126 | $9,426 |
| 2016 | $377,425 + $264,856 $642,281 | $9,100 |
| 2015 | $371,756 + $260,878 $632,634 | $8,986 |
| 2014 | $364,474 + $255,768 $620,242 | $9,111 |
| 2013 | $362,827 + $254,613 $617,440 | $9,112 |
| 2012 | $355,713 + $249,621 $605,334 | $9,468 |
| 2010 | $348,739 + $244,727 $593,466 | $9,284 |
| 2009 | $346,956 + $243,476 $590,432 | $8,976 |
| 2009 | $346,133 + $242,898 $589,031 | $8,976 |
| 2008 | $340,153 + $238,702 $578,855 | $8,657 |
| 2007 | $333,484 + $234,022 $567,506 | $8,313 |
$2,350,000
CRMLS
Sold 1998-07-31
$485,000
Public Record
Year Built: 1958
Building Features: 1
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: 1
Property Age: 66
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Commercial/Residential
House Style: Mid Century Modern
Year Built Source: Assessor
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.