6504 Woodley Avenue, Van Nuys, CA 91406

Property Description

An exceptional opportunity to acquire 6504 Woodley Avenue, a well-maintained 4-unit apartment community located in the heart of Lake Balboa one of the San Fernando Valley's most sought-after and supply-constrained rental markets. Built in 1953 and coming to market for the first time in 63 years, the property has served as the seller's primary residence and reflects true pride of ownership, with consistent upkeep resulting in a building that is in exceptional overall condition. With two vacant, move-in-ready units, the offering presents an excellent opportunity for immediate lease-up or an owner-user seeking flexible occupancy.Situated on a 7,257 square foot lot, the property totals 3,720 square feet of gross building area. The asset features a favorable unit mix of two (2) two bedroom, one bath units, one (1) two bedroom, two bath unit, and one (1) two bedroom, two bath large unit averaging 1,200 square feet. Parking includes three (3) covered garage spaces and two (2) gated spaces. Current rents average $1,984 for the two bedroom, one bath units, $1,730 for the two bedroom, two bath unit, and $2,850 for the large two bedroom, two bath unit, generating a scheduled monthly rent of $8,547 and scheduled yearly rent of $102,564.As a 1953 construction, the property is subject to the Los Angeles City Rent Stabilization Ordinance (RSO), which governs allowable annual rent increases and tenant protections. The two vacant units represent a near-term opportunity to reset rents to current market levels, providing a meaningful avenue for income growth within the RSO framework.Lake Balboa's enduring residential appeal further strengthens the investment profile of 6504 Woodley Avenue. The neighborhood is widely recognized for its tree-lined streets, well-kept single-family and multifamily stock, and strong community identity offering a suburban sense of calm with convenient access to the broader Valley. The property is surrounded by respected local schools including Bassett Street Elementary, William Mulholland Middle School, and High Tech Los Angeles, and sits just moments from the open green spaces of Woodley Avenue Park and Woodley Park, adding to its long-term desirability for families and renters alike. Proximity to major employment corridors along Sepulveda Boulevard and the 405 and 101 freeway interchanges ensures consistent rental demand from commuters across the region.With its prime Lake Balboa location, favorable unit mix, two vacant lease-up units, and strong in-place income, 6504 Woodley Avenue presents a compelling opportunity for investors and owner-users alike seeking a stable, pride-of-ownership asset in one of the San Fernando Valley's most competitive and enduring residential submarkets.