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10425 Mcvine Avenue

Sunland, CA 91040
  • $1,200,000
  • STATUS: Active Under Contract
  • ON SITE: 29 Days
  • ID#: P1-16383
Under Contract
UPDATED: 66 min ago
$1,200,000
  • 0
    BEDS
  • 0.41
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1954
County:

School Ratings & Info

Listing Agent(s): Patrick Cochran of Coldwell Banker Realty ((626) 584-0050) and Robert Ip of Coldwell Banker Realty Pasadena(626-584-0050)


Description

Welcome to an outstanding value-add, development, and investment opportunity in a prime location! This 5-unit single-story complex near Foothill Blvd. provides convenience and proximity to retail amenities and holds significant potential for Accessory Dwelling Units (ADUs). The expansive lot offers the prospect of adding extra units, promising enhanced rental income for savvy investors. With LAR3 zoning, the property presents a remarkable development opportunity, allowing for a 22-unit apartment complex by right and up to 35 units with density bonuses. This unique flexibility positions the property as an ideal investment for those looking to capitalize on the ever-growing demand for housing in Los Angeles.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-02T00:30:35.017. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rusnell Real Estate Group | Vista Sotheby's. Licensed in the State of California, USA.
www.rusnellproperties.com/homes/147161788
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10425 Mcvine Avenue Sunland, CA 91040

  • Price: $1,200,000
  • Status: Active Under Contract
  • On Site: 29 Days
  • Updated: 66 min ago
  • ID#: P1-16383
0
Beds
0
Baths
0
½ Baths
0.41
Acres
1954
Built
Neighborhood:
Not Applicable
County:
Los Angeles
Area:
659 - Sunland/Tujunga
Property Description
Welcome to an outstanding value-add, development, and investment opportunity in a prime location! This 5-unit single-story complex near Foothill Blvd. provides convenience and proximity to retail amenities and holds significant potential for Accessory Dwelling Units (ADUs). The expansive lot offers the prospect of adding extra units, promising enhanced rental income for savvy investors. With LAR3 zoning, the property presents a remarkable development opportunity, allowing for a 22-unit apartment complex by right and up to 35 units with density bonuses. This unique flexibility positions the property as an ideal investment for those looking to capitalize on the ever-growing demand for housing in Los Angeles.
Exterior Features

Carport Spaces 0 Fencing BlockChain LinkVinylWood Number Of Separate Electric Meters 5 Parking Features AsphaltOne SpaceOn Street Parking Total 5 Pool Features None Pool Private YN No Property Attached YN No Spa Features None Spa YN No View None View YN No

Interior Features

Common Walls No Common Walls Cooling YN Yes Fireplace Features Decorative Fireplace YN Yes Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Cap Rate 2.71 Community Features Sidewalks Disclosures Rent ControlSeller Disclosure Garage YN No Gross Income 75576 Gross Scheduled Income 75576 Insurance Expense 4736 Land Lease YN No Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Net Operating Income 32504 New Construction YN No Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Number Of Units Leased 5 Operating Expense 43072 Rent Control YN Yes Senior Community YN No Sewer Sewer Tap Paid Special Listing Conditions Trust Tenant Pays ElectricityGas Total Actual Rent 6298 Trash Expense 0 Water Source Public Zoning LAR3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-02T00:30:35.017. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rusnell Real Estate Group | Vista Sotheby's. Licensed in the State of California, USA.
 
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Rusnell Real Estate Group | Vista Sotheby's
16 Malaga Cove Plaza
Palos Verdes Estates CA, 90274
Listing Agent(s): Patrick Cochran of Coldwell Banker Realty ((626) 584-0050) and Robert Ip of Coldwell Banker Realty Pasadena(626-584-0050)