Skip to main content

Multifamily

6935 Woodman

6935 Woodman Ave, Los Angeles, CA 91405

Listing Price: $2,600,000

Cap Rate
3.50%
Number of Units
9
Price/Unit
$288,889
Price/Gross SF
$214.20
Gross SF
12,138

Investment Overview

THG Multifamily, as the exclusive listing agent, is pleased to present for-sale 6935 Woodman (the “Property”), a 9-unit value-add multifamily opportunity located on the Van Nuys and Valley Glen border. The Property is ideally located along Woodman Ave with direct access to Ventura Boulevard (the main artery of San Fernando Valley) giving residents of 6935 Woodman unparalleled accessibility to an array of retail amenities, dining options, and nearby recreation & entertainment venues. Additionally, the Property offers investors the opportunity to significantly increase rents by continuing the renovation program on the non-renovated units and common area spaces along with capturing embedded loss-to-lease on renovated units.

Investment Highlights

  • Opportunity to capture 56% ($758) upside in rental income by renovating the remaining 7 non-renovated units and can also effectuate 8% ($163) in loss-to-lease on the renovated units
  • Market rents appeal to a large group of renters ($2,139 average rent).
  • The Property features three unique floor plans across a favorable unit mix of two one-bedroom units the average 800 square feet and 7 two-bedroom units ranging from 925 to 1,000 square feet.
  • Van Nuys' median price for a single-family residence has grown to $817.5K. This represents an 31.8% increase in Van Nuys home prices over the past two years. As home ownership remains out of reach for most residents, demand for luxury rental housing will remain strong allowing the Property to outperform the market and drive both occupancy and rental rate growth.
  • Van Nuys is projected to see average annualized rent growth of 4.27% over the next 5 years while maintaining average annual occupancy of above 97.8%

Exclusively Listed By

Multifamily

6935 Woodman

Listing Price: $2,600,000

Cap Rate
3.50%
Number of Units
9
Price/Unit
$288,889
Price/Gross SF
$214.20
Gross SF
12,138

Investment Highlights

  • Opportunity to capture 56% ($758) upside in rental income by renovating the remaining 7 non-renovated units and can also effectuate 8% ($163) in loss-to-lease on the renovated units
  • Market rents appeal to a large group of renters ($2,139 average rent).
  • The Property features three unique floor plans across a favorable unit mix of two one-bedroom units the average 800 square feet and 7 two-bedroom units ranging from 925 to 1,000 square feet.
  • Van Nuys' median price for a single-family residence has grown to $817.5K. This represents an 31.8% increase in Van Nuys home prices over the past two years. As home ownership remains out of reach for most residents, demand for luxury rental housing will remain strong allowing the Property to outperform the market and drive both occupancy and rental rate growth.
  • Van Nuys is projected to see average annualized rent growth of 4.27% over the next 5 years while maintaining average annual occupancy of above 97.8%

Investment Overview

THG Multifamily, as the exclusive listing agent, is pleased to present for-sale 6935 Woodman (the “Property”), a 9-unit value-add multifamily opportunity located on the Van Nuys and Valley Glen border. The Property is ideally located along Woodman Ave with direct access to Ventura Boulevard (the main artery of San Fernando Valley) giving residents of 6935 Woodman unparalleled accessibility to an array of retail amenities, dining options, and nearby recreation & entertainment venues. Additionally, the Property offers investors the opportunity to significantly increase rents by continuing the renovation program on the non-renovated units and common area spaces along with capturing embedded loss-to-lease on renovated units.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower