14201 Friar Street, Van Nuys

$1,269,000

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6 Beds
3 Baths
2,101 Sqft
.17 Acre
1 Garage

Introducing an unparalleled investment opportunity: a strategically positioned triplex in a high-demand area, zoned LARD 1.5, ripe for immediate income and extensive future development. This property represents a rare find for investors looking to capitalize on both current rental income and expansive growth potential.Property Features:Diverse Unit Composition: The heart of this investment is the middle unit, a beautifully remodeled one-bedroom, one-bathroom sanctuary, complete with an in-unit washer and dryer for utmost convenience. This unit's modern finishes and thoughtful upgrades set the standard for comfort and style within the property.Ample Parking: A standout feature is the extensive parking availability, a coveted amenity in urban living, ensuring ease and accessibility for tenants and visitors alike.Expansion Potential: With LARD 1.5 zoning, this property doesn't just offer a solid income stream; it presents vast opportunities for development. The unique potential to expand up to 8 units, especially by adding a second story to the existing two-bedroom unit, catapults this investment into a realm of significant growth prospects.Situated in a neighborhood renowned for its strong rental market, this triplex not only generates stable income but also stands as a beacon for development possibilities. The existing structure serves as a foundation for a visionary investor to reshape, expand, and maximize the site's full potential, aligning with the area's growing demand for residential units.Whether you're drawn to the immediate income possibilities or the enticing prospect of developing additional units, this triplex offers a compelling blend of profitability and potential. It's an investment poised for growth, ready to meet the needs of the market today and tomorrow.Don't miss this rare opportunity to own a piece of strategic real estate with both current appeal and future promise. Schedule a showing to explore the possibilities firsthand and envision the future you can build with this exceptional investment property. Seller is motivated so bring your best offer before its too late.

Essential Information

MLS® #
24378377
Price
$1,269,000
Bedrooms
6
Bathrooms
3.00
Square Footage
2,101
Acres
0.17
Year Built
1940
Type
Residential Income
Style
Traditional
Status
Active

Community Information

Address
14201 Friar Street
City
Van Nuys
County
Los Angeles
Zip Code
91401
Senior Community
N

Amenities

Parking Spaces
2
Parking
Driveway
# of Garages
1
Garages
Driveway
View
None
Pool
None

Interior

Heating
Wall Furnace
Stories
One

Appliances

Gas Cooktop, Oven, Refrigerator, Dryer, Washer

Additional Information

Date Listed
April 9th, 2024
Days on Market
33
Zoning
LARD1.5

Listing Details

Agent
Mihal Schapiro
Office
Coldwell Banker Realty
Property History
Price Reduced from $1,291,000 to $1,269,000
Status Changed from Active Under Contract to Active
Status Changed from Active to Active Under Contract

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Based on information from California Regional Multiple Listing Service, Inc. as of May 12th, 2024 at 12:15am PDT. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.