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    6819 Variel Avenue

    Canoga Park, CA 91303
    • $2,100,000
    • STATUS: Active
    • ON SITE: 70 days
    • ID#: 20616172
    UPDATED: 10 min ago
    $2,100,000
    • 0
      BEDS
    • 0.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1959
    County:

    School Ratings & Info

    Description

    WARNER CENTER DEVELOPMENT - located in an OPPORTUNITY ZONE. Due to the Opportunity Zone, you can build 40 units and in 10 years sell the property and pay ZERO CAPITAL GAINS TAX! Currently a 100% occupied 6-unit multi-family building on a 9,003 sf parcel allowing the 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. LA is undergoing a massive revitalization project along 51-miles of the LA river which starts in Canoga Park and ends in Long Beach. World-Renown Architects such as Frank Gehry are involved, making this particular development an exciting opportunity and your chance to be a part of the action. The building is currently occupied, so PLEASE DO NOT DISTURB THE TENANTS!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-20T18:31:39.437. 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 Keller Williams Realty. Licensed in the State of California, USA.

    www.therealestategirl.com/homes/108732285
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    6819 Variel Avenue Canoga Park, CA 91303

    • Price: $2,100,000
    • Status: Active
    • Updated: 10 min ago
    • ID#: 20616172
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.2
    Acres
    1959
    Built
    County:
    Los Angeles
    Property Description
    WARNER CENTER DEVELOPMENT - located in an OPPORTUNITY ZONE. Due to the Opportunity Zone, you can build 40 units and in 10 years sell the property and pay ZERO CAPITAL GAINS TAX! Currently a 100% occupied 6-unit multi-family building on a 9,003 sf parcel allowing the 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. LA is undergoing a massive revitalization project along 51-miles of the LA river which starts in Canoga Park and ends in Long Beach. World-Renown Architects such as Frank Gehry are involved, making this particular development an exciting opportunity and your chance to be a part of the action. The building is currently occupied, so PLEASE DO NOT DISTURB THE TENANTS!
    Exterior Features

    Lot Size Dimensions 75X120 Lot Size Units Square Feet Parking Features Assigned Parking YN Yes Pool Features None Pool Private YN No Spa Features None Spa YN No

    Property Features

    Country Us Gross Income 103452.00 Gross Multiplier 0.00 Gross Operating Income 103452.00 Net Operating Income 62071.00 Senior Community YN No Special Listing Conditions Standard Total Expenses 41381.00 Vacancy Allowance Rate 0.00 Zoning Lar3

    Listing provided courtesy of Chase Simonton of Keller Williams-Santa Monica and Jason Flashman of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-20T18:31:39.437. 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 Keller Williams Realty. Licensed in the State of California, USA.

     
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