7320 Lennox Avenue L3, Van Nuys, California 91405, Van Nuys, 91405 - 2 bed, 2 bath
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Van Nuys, California 91405
This Value-Add Condominium Investment is listed at $309,000, offering a strategic entry point into the Van Nuys market. With a Fair Market Value of $260,940, the property’s Condition Rating of 5—marked by original 1971 finishes and a boarded-up window—presents a clear path for forced appreciation through rehabilitation. The unit features a functional two-story layout, a private front patio, and central HVAC near the highly-rated Hazeltine Avenue Elementary School. This is a high-potential project for Fix-and-Flip Investors or Contractors ready to modernize an asset in a major commuter corridor.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7320 Lennox Avenue L3 Subject | $309,000* List Price | 2 | 2 | 971 | $269 | - |
A 13903 Sherman Way 8 Sold | $335,000 | 2 | 2 | 1,012 | $331 | 0.6 mi |
B 15015 Sherman Way 314 Sold | $370,000 | 2 | 2 | 1,004 | $369 | 0.8 mi |
C 15015 Sherman Way 316 Sold | $349,000 | 2 | 2 | 938 | $372 | 0.8 mi |
D 7320 E10 Lennox Avenue Active | $400,000 List Price | 2 | 2 | 1,079 | $371 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1971, this property is in mostly original condition and shows significant signs of neglect. Interior images reveal heavily stained and soiled carpeting, dated kitchen cabinetry and appliances, and visible wall damage/peeling paint in the bathrooms. Most notably, a bedroom window is boarded up with plywood, indicating a lack of immediate habitability and a need for substantial rehabilitation.
The floor plan effectively separates the living and social spaces on the main level from the private bedrooms upstairs, offering a layout that feels more like a townhome than a traditional apartment-style condo.
The property boasts exceptional accessibility to the 405, 170, and 101 freeways, making it an ideal hub for professionals commuting to various parts of Los Angeles and the San Fernando Valley.
Equipped with central heating and air conditioning plus two assigned parking spaces, the unit provides the most sought-after essential amenities for comfort and convenience in the Van Nuys area.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =249928, other record lot size in square feet = 249850.
The listing indicates a significant need for updates and modernization, suggesting that the buyer will need to invest additional capital to renovate the 1971-era finishes.
The reliance on community laundry facilities rather than having in-unit hookups may be a drawback for buyers prioritizing modern convenience and privacy.
Welcome to Walnut Gardens, a well-maintained community in the heart of Van Nuys. This 2 bedroom, 2 bathroom condo offers 971 square feet of living space with a functional two-story layout and great potential to make it your own. The main level features the living room, kitchen, and a convenient bathroom, while both bedrooms are located upstairs, offering privacy and separation from the living areas. The unit also includes central heating and air conditioning for year-round comfort. A private front patio welcomes you into the home and provides a great space for outdoor seating or a personal garden. The unit also comes with two assigned parking spaces. Residents of Walnut Gardens enjoy access to a large community pool located near the unit, community laundry facilities, and landscaped common areas. HOA dues cover water, sewer, trash, recycling, and common area expenses. This home offers a great opportunity to update and make it your own. Conveniently located with easy access to the 405, 170, and 101 freeways, and close to shopping, dining, and everyday amenities.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.9 mi
Grades 6-12 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 971 | 1,062 | 35% |
| Lot Size | 249,928 | 48,220.922 | 88% |
| Price | $309.0K | $450.0K | 6% |
| Price per sq ft | $318 | $422 | 6% |
| Built year | 1971 | 1980 | 12% |
| HOA | $462.0 | $432 | 65% |
| Days on market | 29 | 195 | 6% |
Mar 24, 2026
$309,000
Initial Listing
Jul 28, 2000
$77,500
Public Record
Oct 17, 1994
$48,000
Public Record