Skip To Content
    Return to Previous Page

    6819 Variel Avenue

    Canoga Park, CA 91303
    • $2,050,000
    • STATUS: Active Under Contract
    • ON SITE: 58 days
    • ID#: 21675552
    Under Contract
    UPDATED: 16 min ago
    $2,050,000
    • 0
      BEDS
    • 0.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,380
      SQFT
    • $468
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1959
    County:

    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!

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-03-04T16:33:27.19. 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 Realty ONE Group Southwest. Licensed in the State of California, USA.

    www.necolrealty.com/homes/113003868
    Print Image

    6819 Variel Avenue Canoga Park, CA 91303

    • Price: $2,050,000
    • Status: Active Under Contract
    • Updated: 16 min ago
    • ID#: 21675552
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.2
    Acres
    4,380
    SQFT
    $468
    $/SQFT
    1959
    Built
    Neighborhood:
    CP - Canoga Park
    County:
    Los Angeles
    Area:
    CP - 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 Dimensions 75X120 Lot Size Units Square Feet Parking Features Assigned Parking YN Yes

    Interior Features

    Cooling Wall/Window Unit(S) Cooling YN Yes Heating Wall Furnace Heating YN Yes

    Property Features

    Country Us Gross Income 103452.00 Gross Multiplier 19.81 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 Re/Max One


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-03-04T16:33:27.19. 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 Realty ONE Group Southwest. Licensed in the State of California, USA.

     
    https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365079630-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365079630-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365079630-1.jpg
    Logo
    Realty ONE Group Southwest
    41463 Margarita Rd. Suite 100
    Temecula CA, 92591