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Woodman Apartments 7505-7507 Woodman Ave 34 Unit Apartment Building $7,990,000 ($235,000/Unit) 6.23% Cap Rate Van Nuys, CA 91405
EXECUTIVE SUMMARY
6.23% in-place cap, 7.6% stabilized!
Woodman Apartments is a 34-unit, two-story apartment community of approximately 21,159 square feet situated on 0.73 acre of
land. Built in 1986, the property has been well maintained with minor upgrades and renovations implemented as necessary. The
community consists of studio, one- and two-bedroom units that average 625 square feet.
Construction is stucco over wood frame on a reinforced concrete slab. Parking is provided by tuck-under spaces in a gated-asphalt
covered lot between the two buildings. The property also features a fenced perimeter.
The property is situated just south of Saticoy Street midway between Sherman Way and Roscoe Boulevard on the west side of
Woodman Avenue.
The following highlights some of the conveniences and opportunities found within this area:
• Walking distance to Ralphs grocery store at Woodman and Sherman Way
• Short drive to “The Plant” shopping center featuring Regency Theaters, Home Depot, In-N-Out, Living Spaces, Five Below, and
Ross Dress for Less
• Near the Kaiser Permanente Panorama City Medical Center named one of the Best Hospitals by US News & World Report for 2024
• One mile from the Van Nuys Metrolink station as well as the Van Nuys Amtrak station.
Woodman Apartments is a 34-unit, two-story apartment community of approximately 21,159 square feet situated on 0.73 acre of
land. Built in 1986, the property has been well maintained with minor upgrades and renovations implemented as necessary. The
community consists of studio, one- and two-bedroom units that average 625 square feet.
Construction is stucco over wood frame on a reinforced concrete slab. Parking is provided by tuck-under spaces in a gated-asphalt
covered lot between the two buildings. The property also features a fenced perimeter.
The property is situated just south of Saticoy Street midway between Sherman Way and Roscoe Boulevard on the west side of
Woodman Avenue.
The following highlights some of the conveniences and opportunities found within this area:
• Walking distance to Ralphs grocery store at Woodman and Sherman Way
• Short drive to “The Plant” shopping center featuring Regency Theaters, Home Depot, In-N-Out, Living Spaces, Five Below, and
Ross Dress for Less
• Near the Kaiser Permanente Panorama City Medical Center named one of the Best Hospitals by US News & World Report for 2024
• One mile from the Van Nuys Metrolink station as well as the Van Nuys Amtrak station.
PROPERTY FACTS
| Price | $7,990,000 | Apartment Style | Low-Rise |
| Price Per Unit | $235,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.72 AC |
| Cap Rate | 6.23% | Building Size | 21,159 SF |
| Gross Rent Multiplier | 10.31 | Average Occupancy | 100% |
| No. Units | 34 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1986 |
| Property Subtype | Apartment | Parking Ratio | 3.63/1,000 SF |
| Zoning | LARD2 | ||
| Price | $7,990,000 |
| Price Per Unit | $235,000 |
| Sale Type | Investment |
| Cap Rate | 6.23% |
| Gross Rent Multiplier | 10.31 |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 21,159 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 3.63/1,000 SF |
| Zoning | LARD2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | 400 |
| 1+1 | 6 | - | 500 |
| 2+1 | 22 | - | 710 |
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PROPERTY TAXES
| Parcel Number | 2215-004-123 | Improvements Assessment | $1,199,299 |
| Land Assessment | $799,529 | Total Assessment | $1,998,828 |
PROPERTY TAXES
Parcel Number
2215-004-123
Land Assessment
$799,529
Improvements Assessment
$1,199,299
Total Assessment
$1,998,828
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Woodman Apartments | 7505-7507 Woodman Ave
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