13536 Vanowen Street, Valley Glen, CA 91405
Property · 3 recorded sales since 2013
Sold April 2019
Listing Agent: Poupee Komenkul (DRE #01060862) · Listing Office: Rodeo Realty · Contact: 818-349-9997 · Bought with: Poupee Komenkul · Rodeo Realty · MLS #SR19053511 · Source: CRMLS
About this property
ATTN BUILDERS! DEVELOPERS! RD 1.5 zoning, Massive lot over 13,000 sqft & HUGE frontage of 100 FEET! Build 8 units! Situated in the desirable Valley Glen neighborhood with close proximity to public schools, shopping, Sherman Oaks, Valley College, and the 170, 405 & 101 Freeways - allowing residents easy access to the Valley & Los Angeles. Partnership is dissolving thus property is being sold. One partner has plans to build 8 unit premier development consisting of 8 BRAND NEW luxury Townhomes with 3 bedrooms, 3.5 baths, double attached garage at 1560 sqft each, survey is complete too, partner will turn those over to new buyer. Front photo is a rendering of the new project. Upon completion of development, you have two options, keep property for cash flow - Market Projected rents for each complete unit are $3000-$3200 per unit, thats a 5.5 CAP at $4 Million for a brand new development! Option 2: SMALL LOT DEVELOPMENT subdivision, once the property is built, sell each unit separately for approximately $600K-$625 each, sell out would be $4.8M! Current use is SFR, approximately 3350 sqft with 3 units, bringing in an income of approximately $4000 per month. This is the deal you have been looking for so don't delay! DRIVE BY ONLY, NO SIGN, DO NOT DISTURB TENANTS.
Listing description from the April 2019 sale, as reported to CRMLS.
Sale history
