6443 Columbus Avenue, Van Nuys, California 91411, Van Nuys, 91411 - 3 bed, 2 bath

6443 Columbus Avenue, Van Nuys, California 91411 home-pic-0
ACTIVE$2,400,000
6443 Columbus Avenue, Van Nuys, California 91411
3Beds
2Baths
1,572Sqft
19,736Lot
Year Built
1939
Close
-
List price
$2.4M
Original List price
$2.4M
Price/Sqft
$1,527
HOA
-
Days on market
-
Sold On
-
MLS number
25509909
Home ConditionExcellent
Features
Good View:
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About this home

We found 3 Cons,6 Pros. Rank: price - $2.40M(94th), sqft - 1572(54th), beds - 3(50th), baths - 2(50th).

The Developer's Dream project is here!! Located in a highly desirable, rapidly revitalizing area, this offering features three (3) undeveloped lots in an R1, an exceptional development opportunity. The lots measure 7,525 sq. ft, 5,612 sq. ft, and 5,612 sq. ft respectively. Currently, Lot 1 includes a remodeled 1,572 sq. ft, 3 Bed / 2 Bath single-family home which is vacant. Lot 2 -Vacant, and Lot 3 -Vacant. Subdivision plans and maps are finalized, with legal/APN numbers expected within the next several months. With SB9 regulations, these 3 parcels can create up to 12 homes. Whether you opt to rent or sell, the flexible use and strong market fundamentals promise solid inflation recovery for single-family homes. Just steps from major freeways, public transportation, grocery stores, and restaurants, this property is perfectly positioned for successful development. Bring your contractor and architect, this is your chance to build in a thriving market!

Condition Rating
Excellent

Despite being built in 1939, the property has undergone a recent and extensive remodel, as evidenced by the images. The kitchen features new dark shaker cabinets, white quartz countertops, subway tile backsplash, and new stainless steel appliances (refrigerator, range, hood). The bathrooms are also fully updated with new vanities, modern light fixtures, white subway tile surrounds, new tubs, and frameless glass shower panels. The flooring throughout the visible areas is new wood-look laminate/LVP, and lighting consists of modern recessed cans. All visible components appear new or virtually new, meeting current quality standards with no deferred maintenance.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 19736, living area = 1572.
Significant Development Potential: Comprises three R1 zoned lots with the capacity to develop up to 12 homes under SB9 regulations, offering substantial upside for a developer.
Strategic Location: Located in a highly desirable and rapidly revitalizing area, with excellent proximity to major freeways, public transportation, grocery stores, and restaurants.
Advanced Subdivision Status: Subdivision plans and maps are finalized, significantly de-risking and streamlining the development process once legal/APN numbers are issued.
Income-Generating Asset: Includes a remodeled, vacant 3 Bed/2 Bath single-family home on Lot 1, providing immediate rental income potential or a base for future development.
Multiple Vacant Parcels: Two of the three lots are completely vacant, offering clear canvases for new construction without immediate demolition costs or tenant relocation challenges.

Cons

Pending APN Numbers: Legal/APN numbers for the subdivided parcels are still expected within several months, which could introduce administrative delays before full development can commence.
Requires Substantial Investment & Expertise: Marketed as a 'Developer's Dream,' this project necessitates significant capital investment, construction expertise, and architectural planning to realize its full potential.
Existing Structure Age: While remodeled, the existing home was built in 1939, which may imply older underlying infrastructure or potential demolition costs if the entire site is redeveloped.

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