Joe Cloninger

Partner, Sales/Marketing | License ID: 01954784

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$ 1,480,000

$ 1,575,000 6.0%

Est. payment | -/mo

10 Beds

12 Baths

6,434 SqFt

$ 1,480,000

$ 1,575,000 6.0%

Est. payment | -/mo

10 Beds

12 Baths

6,434 SqFt

Key Details

Sold Price $1,480,000

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 6,434 sqft

Price per Sqft $230

MLS Listing ID 26711685

Sold Date 07/17/26

Bedrooms 10

Year Built 1993

Lot Size 7,018 Sqft

Acres 0.1611

Property Sub-Type Multi-Family

Property Description

We are pleased to present 6501 Woodley Avenue, a rare 1993 construction value add 5-unit Investment Opportunity in Lake Balboa, CA. The property is comprised of 6,434 square feet of rentable area with an excellent unit mix of (4) 2 Bed, 2.5 Bath Townhouse units and (1) 2 Bed, 1 Bath Front House. Each unit is equipped with washers and dryers, hardwood floors, spacious layouts, and central heat and air. The townhouse units feature large private balconies and the house features a large private front yard. Built in 1993, the property is not subject to the Los Angeles Rent Stabilization Ordinance, allowing for an investor to increase rents by 5% + CPI annually (8% in 2026), per AB1482.The current rents are strong, averaging $2,189, but have excellent remaining upside of approximately 20%.Situated in the highly desirable Lake Balboa rental submarket, the property benefits from its walking distance to Sepulveda Basin Recreation Area, a 2,000 acre zone featuring several parks, golf courses, indoor & outdoor sports complexes, and community gardens. Located just west of the 405 freeway and just north of the 101 freeway, Lake Balboa is one of the most central neighborhoods in Los Angeles, surrounded by high profile and trendy neighborhoods such as Encino, Sherman Oaks, Tarzana, North Hollywood, Northridge and Studio City.

Location

State CA

County Los Angeles

Area Lake Balboa

Zoning LARD1.5

Rooms

Other Rooms None

Interior

Heating Central

Cooling Central

Flooring Laminate

Equipment Range/Oven, Washer, Dryer, Garbage Disposal, Intercom

Laundry In Unit

Exterior

Parking Features Gated, Garage, Covered Parking

Garage Spaces 10.0

Building

Story 2

Level or Stories Multi/Split

Others

Special Listing Condition Standard

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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Lyon Stahl Investment Real Estate, Inc.
Bought with Sotheby's International Realty