7342 Haskell Ave Active Save Request In-Person Tour Request Virtual Tour
Van Nuys,CA 91406
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 24,349 sqft
Price per Sqft $291
MLS Listing ID 25548685
Bedrooms 36
Year Built 1986
Lot Size 0.387 Acres
Acres 0.3865
Property Sub-Type Multi-Family
Property Description
7342 Haskell Ave, a 21-unit multifamily asset not subject to LA City Rent Control. SELLER WILL CARRY at 4.5% interest-only in year 1, 5.5% interest-only in year 2. Built in 1986, the property is exempt from Los Angeles City rent control, allowing for annual rental increases of 5% plus CPI, currently 8.8% annually. Significant capital improvements totaling approximately $500,000 have been invested into the property, including a new roof, elevator, exterior paint, upgraded hallway flooring, modern lobby tile, security camera installation, and updated interior lighting. Additionally, there is an opportunity to add Five 1-bedroom/1-bath ADUs without losing adequate parking and potentially increasing annual income by $100,000.Proximity to Major Developments: *East San Fernando Valley Light Rail Transit Project: Approximately 1.5 miles east, this 6.7-mile light rail line along Van Nuys Boulevard is under construction, with completion anticipated in 2031. It will enhance connectivity and transit options in the area.*G Line Busway Improvements: Around 2 miles southeast, the Metro G Line is undergoing a $668 million upgrade, including the construction of elevated stations at key intersections like Van Nuys Boulevard and Sepulveda Boulevard, aiming to improve travel times and reliability. *The Brightly at 6569 Van Nuys Blvd: Located approximately 2.5 miles southeast, this six-story development features 174 residential units and 18,400 square feet of ground-floor commercial space, contributing to the area's revitalization. *Affordable Housing at 6100 Hazeltine Ave: About 3 miles southeast, a seven-story building with 72 affordable units is under development, addressing housing needs and promoting community growth. This offering is ideal for investors seeking a well-maintained asset with value-add potential in a neighborhood poised for continued growth and development. ***Contact us today to request the OM or schedule a private tour.***
Location
State CA
County Los Angeles
Area Lake Balboa
Zoning LAR3
Rooms
Other Rooms None
Interior
Heating Central
Cooling Air Conditioning
Equipment Elevator
Exterior
Parking Features Controlled Entrance
Garage Spaces 44.0
Building
Story 3
Level or Stories Multi/Split
Others
Special Listing Condition Standard