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Woodman Apartments 6121 Woodman Ave 45 Unit Apartment Building $9,950,000 ($221,111/Unit) 4.84% Cap Rate Van Nuys, CA 91401
INVESTMENT HIGHLIGHTS
- A balanced composition of Studio, One-Bedroom, and Two-Bedroom units
- Residents benefit from on-site parking, laundry facilities, and a swimming pool
- In-place rents provide approximately 37% potential upside
- Located in Van Nuys, the property is east of the 405 Freeway, north of the 101 Freeway, and west of the 170 Freeway
EXECUTIVE SUMMARY
6121 Woodman Ave presents a unique opportunity to acquire a 45-unit apartment building in the heart of Van Nuys, Los Angeles—one of the most active rental markets in the San Fernando Valley. Built in 1970 and situated on a 35,910 SF lot, the property spans 38,766 SF and features a balanced mix of studios, one-bedroom, and two-bedroom apartments that appeal to both professionals and families.
In-place rents offer approximately 37% rental upside, providing strong value-add potential through renovations and improved management.
Residents enjoy on-site parking, a swimming pool, and laundry facilities that contribute to high tenant satisfaction and long-term retention. The property operates efficiently with fee simple ownership and separately metered gas and electricity utilities.
Ideally located near Sherman Oaks, Valley Glen, and Lake Balboa, tenants benefit from close access to the 405, 101, and 170 freeways, as well as major employment centers and shopping corridors. With proven rent growth, stable occupancy, and strong market fundamentals, 6121 Woodman Ave represents a rare multifamily investment opportunity in Van Nuys that combines stability, upside potential, and a prime central location.
In-place rents offer approximately 37% rental upside, providing strong value-add potential through renovations and improved management.
Residents enjoy on-site parking, a swimming pool, and laundry facilities that contribute to high tenant satisfaction and long-term retention. The property operates efficiently with fee simple ownership and separately metered gas and electricity utilities.
Ideally located near Sherman Oaks, Valley Glen, and Lake Balboa, tenants benefit from close access to the 405, 101, and 170 freeways, as well as major employment centers and shopping corridors. With proven rent growth, stable occupancy, and strong market fundamentals, 6121 Woodman Ave represents a rare multifamily investment opportunity in Van Nuys that combines stability, upside potential, and a prime central location.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $9,950,000 | Apartment Style | Low-Rise |
| Price Per Unit | $221,111 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.85 AC |
| Cap Rate | 4.84% | Building Size | 51,714 SF |
| Gross Rent Multiplier | 11.12 | Average Occupancy | 98% |
| No. Units | 45 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 1.16/1,000 SF |
| Zoning | LAR3 | ||
| Price | $9,950,000 |
| Price Per Unit | $221,111 |
| Sale Type | Investment |
| Cap Rate | 4.84% |
| Gross Rent Multiplier | 11.12 |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.85 AC |
| Building Size | 51,714 SF |
| Average Occupancy | 98% |
| No. Stories | 3 |
| Year Built | 1970 |
| Parking Ratio | 1.16/1,000 SF |
| Zoning | LAR3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 13 | - | 550 |
| 1+1 | 16 | - | 750 |
| 2+1 | 1 | - | 1,100 |
| 2+1.5 | 15 | - | 1,100 |
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Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 2239-020-016 | Improvements Assessment | $2,728,151 (2025) |
| Land Assessment | $1,075,880 (2025) | Total Assessment | $3,804,031 (2025) |
PROPERTY TAXES
Parcel Number
2239-020-016
Land Assessment
$1,075,880 (2025)
Improvements Assessment
$2,728,151 (2025)
Total Assessment
$3,804,031 (2025)
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Woodman Apartments | 6121 Woodman Ave
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