Mayelian Group is proud to present 6830 Woodley Ave. in Van Nuys, a 19 unit building aggressively priced at 12.92 GRM based on actual income and $150,000 price per unit at 5.2% CAP. The subject consists of (5) 2 bedroom/ 1 bathroom, (12) 1 bedroom/ 1 bathroom, and (2) singles/ 1 bathroom. The Woodley Avenue apartments offer investors assumable financing with low interest rate. Terms of the assumable loan are current balance of approximately $1,240,000 with rate of 3.75% fixed until November 2022. The property offers investors upside in rents with rents being approximately 17-20% below current market. Subject is an all-electric building with electric cook tops and electric individual water heaters in each unit. The building features copper plumbing and gated security entrance. The property is 12,852 square foot, built in 1961 and set on a 16,058 sq. ft. (per assessor) lot.
Woodley Avenue Apartments is desirably located along Woodley between Haskell Avenue to the east and Hayvenhurst Avenue to the west, south of Sherman Way and north of Vanowen Street. The property is located approximately 1 mile from the Van Nuys Airport and the 405 freeway, less than a 10 minute walk to the Van Nuys Golf Course, less than 2 mile drive to the Sepulveda Basin Sport Complex. Offering Memorandum and Rent Roll is attached under supplements.
