Description
We are pleased to exclusively present 5914 Coldwater Canyon Ave, a remarkable investment opportunity in the heart of Valley Village. Note: Seller may carry. This meticulously maintained 6-unit property spans approximately 5,978 square feet on an approximately 6,789 square feet, zoned R3-1. Nestled in the prestigious Valley Village area, known for its affluent residential character with an average single-family home price of $2,062,857 and a median sales price of $1,745,000, the property stands as a beacon of potential.5914 Coldwater Canyon Ave boasts a well-conceived unit mix, comprising four one-bedroom/one-bathroom units alongside two spacious two-bedroom/one-bathroom units. Its prime location, just a block away from Los Angeles Valley College, anchors the property in a vibrant community and ensures a robust tenant base that includes local college students, offering stability and consistent demand. The investment potential is further enhanced by a rear detached garage, currently offering six parking spaces. This space is primed for the development of two additional 2-bedroom, 1-bathroom Accessory Dwelling Units (ADUs), potentially expanding the total unit count to eight and diversifying the income stream for a discerning investor. In terms of property improvements, 5914 Coldwater Canyon Ave does not disappoint. Four of the units have undergone tasteful remodeling, ensuring modern comfort and appeal. The building's plumbing system has been comprehensively upgraded, laying the groundwork for reduced maintenance concerns. Parking arrangements are currently designated for only two units, presenting an immediate opportunity to boost revenue by optimizing the use of available space. Utility-wise, the property stands out for its efficiency and cost-effectiveness. Each unit is separately metered for gas and electric and benefits from individual water heaters, a strategic setup that significantly lowers operating expenses and enhances the appeal for prospective tenants. In summary, 5914 Coldwater Canyon Ave is not just an investment in real estate; it's an opportunity to own a piece of Valley Village's charm and potential. With a substantial rental upside of over 60% in a high-demand rental area, this property promises to be a lucrative asset and an excellent hedge against inflation.
Features
Location
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CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS),CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share).
