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6819 Variel AVE Canoga Park, CA 91303
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Key Details
Sold Price $1,890,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,380 sqft
Price per Sqft $431
MLS Listing ID 21675552
Sold Date 10/01/21
Bedrooms 9
HOA Y/N No
Year Built 1959
Lot Size 9,003 Sqft
Acres 0.2067
Property Description
OPPORTUNITY ZONE - 20% DOWN, 80% SELLER FINANCING at 4.0% INTEREST ONLY for 2 years. 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 potentially allows for up to 36-units with NO HEIGHT RESTRICTIONS. Tier 3 TOC zoning only requires 1/2 parking spaces per unit, or if you utilize Warner Center zoning of 1 parking space per unit there is NO REQUIREMENT FOR AFFORDABLE HOUSING. This property is also located in an OPPORTUNITY ZONE, giving the developer an opportunity to build 36 units and in 10 years sell the property and pay ZERO CAPITAL GAINS TAX! Please do NOT disturb the Tenants!
Location
State CA
County Los Angeles
Area Cp - Canoga Park
Zoning LAR3
Interior
Heating WallFurnace
Cooling WallWindowUnits
Fireplace No
Exterior
Garage Assigned
Parking Type Assigned
Total Parking Spaces 8
Building
Story 2
New Construction No
Others
Senior Community No
Tax ID 2138022016
Special Listing Condition Standard
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Bought with Altaf Ali • Coldwell Banker Realty
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