Closed – Beautifully Renovated Triplex in Valley Glenn
Cameron Samimi of Lyon | Stahl is pleased to have closed 5901 Woodman Ave, a triplex in Valley Glenn!
This property sold for $935,000
Beautifully renovated and very rare one-story triplex located in the highly coveted neighborhood of Valley Glen. This is a great rental property located just a few blocks from the local college and currently performs at a 4.3% cap rate (the best in the neighborhood). The property is located on a well sought after corner-lot with a large footprint of almost 6,000 Sq.Ft of space. Property is comprised of (2) 1bed/1-bath and (1) 2-bed/1-bath units. Upgrades include clean interior granite counter finishes, hardwood flooring, copper plumbing, and the property is separately metered for gas and electric so each tenant pays their own utility bills other than water.
Each unit has its own remote controlled garage doors and a second tandem parking space. The courtyard in back and the front yard have lush greenery enclosing the property with extra privacy. Not only does this property offer a 4.3% cap rate on current income but a new owner can easily raise the rents to market and obtain a 5.12% cap rate.