We are pleased to present for sale 6551 Woodley Ave, located in the Lake Balboa neighborhood of Van Nuys, CA. The offering consists of a 7-unit apartment building constructed in 1964. The gross building area on title is 7,675 square feet, with no common area this yields an average approximate unit size of 1,096 square feet. The unit mix is comprised of (1) 1-bedroom 1-bathroom and (6) large 2-bedroom 1.5-bathroom townhouse units; a premium and rare mix for the style, age, and location of this building. These townhouse style units command a premium in rents above the typical 2-bedroom units in Van Nuys. Unit 2 will also be delivered vacant, providing a new owner with the immediate opportunity to renovate the unit and achieve market rent. Current rents are almost 35% below market assuming unit 2 is achieving market rents at the time of purchase. Fully owned laundry machines offer additional income.
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