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    6819 Variel Ave

    Canoga Park, CA 91303
    • $2,050,000
    • STATUS: Active Under Contract
    • ON SITE: 51 days
    • ID#: 21-675552
    Under Contract
    UPDATED: 14 min ago
    $2,050,000
    • 9
      BEDS
    • 0.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,380
      SQFT
    • $468
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1959
    County:
    Area:

    School Ratings & Info

    Description

    WARNER CENTER DEVELOPMENT - LA City Council recently approved Promenade 235, which is clearing the way for a sprawling development less than a mile away from subject property. This newly approved development will include a new sports arena, two hotels, a 28-story office tower and more than 1,400 new apartments. Currently 100% occupied, this 6-unit multi-family building sits on a 9,003 sf parcel allowing a developer to earn income while plans and entitlements are underway. Eased building restrictions in the Warner Center allow for up to 40-units with NO HEIGHT RESTRICTIONS. Special zoning only requires 1/2 parking spaces per unit and there are NO REQUIREMENTS FOR AFFORDABLE HOUSING. This property is also located in an OPPORTUNITY ZONE, giving the developer an opportunity to build 40 units and in 10 years sell the property and pay ZERO CAPITAL GAINS TAX! Please do NOT disturb the Tenants!

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-02-25T07:42:19.07. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.randyplaice.com/homes/112999206
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    6819 Variel Ave Canoga Park, CA 91303

    • Price: $2,050,000
    • Status: Active Under Contract
    • Updated: 14 min ago
    • ID#: 21-675552
    9
    Beds
    0
    Baths
    0
    ½ Baths
    0.21
    Acres
    4,380
    SQFT
    $468
    $/SQFT
    1959
    Built
    Neighborhood:
    Canoga Park
    County:
    Los Angeles
    Area:
    Canoga Park
    Property Description
    WARNER CENTER DEVELOPMENT - LA City Council recently approved Promenade 235, which is clearing the way for a sprawling development less than a mile away from subject property. This newly approved development will include a new sports arena, two hotels, a 28-story office tower and more than 1,400 new apartments. Currently 100% occupied, this 6-unit multi-family building sits on a 9,003 sf parcel allowing a developer to earn income while plans and entitlements are underway. Eased building restrictions in the Warner Center allow for up to 40-units with NO HEIGHT RESTRICTIONS. Special zoning only requires 1/2 parking spaces per unit and there are NO REQUIREMENTS FOR AFFORDABLE HOUSING. This property is also located in an OPPORTUNITY ZONE, giving the developer an opportunity to build 40 units and in 10 years sell the property and pay ZERO CAPITAL GAINS TAX! Please do NOT disturb the Tenants!
    Exterior Features

    Lot Size Area 9003 Other Structures None Parking Garage Assigned Total Parking 8

    Interior Features

    Baths Total 7.00 Cooling Wall/Window Equipment None Heating Wall

    Property Features

    Assessed Total Value 345791 Gross Income 103452 Gross Operating Income 103452 Like Units1 1 Like Units2 1 Like Units3 2 Like Units4 1 Like Units5 1 Net Operating Income 62071.00 Number Of Buildings 1 Number Of Units 6 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 41381 Type Of Units 3+22+11+ Year Built Source Vendor Enhanced Zoning Lar3

    Listing provided courtesy of Chase Simonton DRE#01766871 of Re/Max One.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-02-25T07:42:19.07. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    27720 Dickason Drive
    Valencia CA, 91355