14206 Friar Street, Van Nuys, California 91401, Van Nuys, 91401 - 2 bed, 2 bath
ACTIVE$1,265,000
14206 Friar Street, Van Nuys, California 91401
2Beds
2Baths
1,824Sqft
6,263Lot
Year Built
1926
Close
-
List price
$1.26M
Original List price
$1.26M
Price/Sqft
$694
HOA
-
Days on market
-
Sold On
-
MLS number
SR25025623
Home ConditionPoor
Features
View-
About this home
Possibly Over-Priced:The estimated price is 11% below the list price. We found 2 Cons,3 Pros. Rank: price - $1.26M(46th), sqft - 1824(44th), beds - 2(15th), baths - 2(47th).
Tremendous opportunity to acquire a property ripe with potential with a multitude of options for investors. Current property consists of a 2 bed 2 bath home that is approx. 1,250 sqft along with 1 bed 1 bath 600 sqft ADU in the back.Great potential to possibly add a 3rd unit as a Jr. ADU. The property also has plans in process for 2 duplexes plus an ADU for a total of 5 units. Seller to deliver RTI at close of escrow. The potential is endless whether you completely start over or quickly turn this property into a cash flowing income producing property.
Condition Rating
Poor
The property was built in 1926 and the images show outdated kitchens and bathrooms. The property requires substantial repairs and rehabilitation. Given the age and visible condition, it needs significant updates to bring it to modern standards.
Pros & Cons
Pros
Development Potential: The property offers significant development potential with plans in process for 2 duplexes plus an ADU, totaling 5 units, offering a substantial return on investment.
Existing ADU: The property includes a 1 bed 1 bath ADU, providing immediate rental income potential.
Ready-to-Issue (RTI) Permits: Seller to deliver RTI permits at close of escrow, significantly reducing the time and cost associated with new construction.
Cons
Age of Property: Built in 1926, the existing structure may require significant renovation or complete redevelopment to meet modern standards.
Construction Required: Realizing the full potential requires construction, which involves inherent risks such as cost overruns and delays.