This property in Van Nuys, California, presents a prime value-add investment opportunity featuring an existing eight-unit apartment complex situated on a +/-20, 650 square foot lot, with a total rental unit space of +/-6, 870 square feet. Currently, there are four vacant units that will be generating a monthly income of $16, 308. The four vacant units have been fully remodeled and are rent ready. In addition, a buyer may elect to build up to eight ADU's (Buyer to verify). The property includes two single-family homes alongside the six-unit apartment complex. For developers, the site offers unlimited density for affordable housing projects, allowing for flexible unit design and the potential to build up to 39 units under transit oriented community guidelines. Conveniently located adjacent to the 405 Freeway, with easy access to Highway 101 and Lake Balboa Park, this location provides excellent connectivity and development potential.
