16136 Devonshire Street, Granada Hills, CA 91344

Property Description

Just a few steps from Woodley Ave., this single-family home is withing easy stroll of shops, services and restaurants. This includes the Smart and Final anchored center at the SWC or Woodley and Devonshire. Shop, walk, dine, and repeat. Perfect for owner user or, even better, investment/rental property. Beaming rental exposure. The thoroughfare east of Woodley is predominately tree lined single family residential and a super location in the southeast corner of Granada Hills.It is a bit worn. I'll give you that. But remember two adages. ''Don't buy the best property on the block'', (It isn't, but it IS the best value) and location, location, location. (It definitely has THAT going for it, which is nice). I won't say ''bring your contractor''. But a bucket of paint and a hip full of tools might be advisable. It is truly an excellent opportunity for the hands-on homeowner or investor. A blank canvas, if you will, on which to create your dream. It is a chance to make every surface a reflection of your personality because every surface needs some attention. AND it is priced accordingly.The home is currently occupied by tenants who may want to move upon the close of escrow, or not. The tenant is paying way, way, way below market rent at $1,000 monthly on a month-to-month rental agreement. Zillow, which I imagine assumes it is in rent ready condition, ''Zestimates'' the rent at $3,627 per month. That, dear investor, is 263% upside! With the privacy of the tenant in mind, there is no lock box, no sign, and no disturbing their quite enjoyment of this value-add Granada Hills home. We have included photos of the good and the potential for good. We have attached the current termite report, natural hazards report, preliminary title report, available permits, certificate of occupancy (LADBS), water conservation retrofit report, lead based paint report and remediation and, of utmost importance, a complete property inspection report from the highly respected and well know LaRocca Inspection Associates. The property is being sold in as-is, where-is condition and the buyer is to be responsible for termite clearance and retrofit items, if required and desired by purchaser or their lender.The roof is pitched composite, foundation is raised, garage is a separate structure, and there is alley access. The backyard, which is gated and fenced, features a concrete patio with an adjacent covered porch. This is an amazing opportunity for first time home buyers or seasoned investors. Did I mention that it is being sold ''as-is, where-is'' with the tenant in place? As noted, it is priced according to condition and needed rehab. The property is not going to be delivered vacant and will be subject to the tenant's rights per the month-to-month rental agreements. It is important to note that there are provisions that allow for an owner to gain possession of a property for their own occupancy or for a family member. Also, the property is NOT subject to Los Angeles Rent Stabilization Ordinance (rent control). There are variables (such as how many units the landlord owns) that impact the methodology for removing a tenant. Each buyer's situation may be unique, and they should do their own investigation. Also occupied and listed for sale, 8761 Corbin, Northridge $736,000 and 16256 Horace, Granada Hills $746,000.