Seller's Agent in 2025
Kaela Whelan
Compass
(310) 577-5300
1 in this area
16 Total Sales
6311 Hazeltine Ave van Nuys, CA 91401
Valley Glen Neighborhood
0.24
Acre
$3,759,244
Price per Acre
10,604
Sq Ft Lot
About This Lot
As of February 2025We are proud to present 6311 Hazeltine Ave, Van Nuys, CAa unique investment opportunity with a range of possibilities for astute investors and developers.This expansive 10,621-square-foot corner lot currently hosts a duplex on the northern half, with two 900+ square foot, two-bedroom, one-bathroom units that generate $3,450 in monthly rental income. Each unit enjoys its own private garage, with a shared driveway between them.The southern half of the lot, comprising over 5,000 square feet of raw, undeveloped land, is primed for new development.The property's zoning, (Q)RD1.5, allows for various development strategies. One option is to demolish the existing duplex and capitalize on the zoning to construct up to 5 units by right. Alternatively, leveraging the TOC Tier 1 density bonus, a developer could create up to 8 units, with just one unit designated for low-income housing. This plan could be further enhanced with the addition of ADUs, resulting in a total of up to 10 units.For those considering affordable housing, the property is also an excellent candidate for ED1 100% affordable development, potentially accommodating over 40 units.Alternatively, a buyer might choose to retain the existing duplex and develop the vacant portion of the lot. Options include constructing two large detached ADUs, resulting in a 4-unit property, or developing three additional units by right plus the two ADUs, culminating in a 7-unit property.This property offers a rare combination of current income and significant development potential, making it an ideal opportunity for a wide range of investment strategies.With the existing duplex in place, a developer has the opportunity to secure an attractive residential loan, likely requiring only a 25% down payment. This financing option can provide significant savings during the planning phase with LA City, as the buyer explores the various development paths available.
Last Agent to Sell the Property
Marcus & Millichap License #01905352 Listed on: 08/26/2024
Property Details
Property Type
- Land
Est. Annual Taxes
- $2,349
Lot Details
- 10,604 Sq Ft Lot
- Property is zoned LARD1.5
Utilities
- Phone Available
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 2240-015-014
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Nov 8, 2024
Closed on
Feb 25, 2025
Sold by
Ilona Chirkinyan
Bought by
Dallakyan Arshak
Seller's Agent
Kaela Whelan
Compass
Buyer's Agent
Kristina Akopyan
Beverly Global Realty
List Price
$1,049,000
Sold Price
$1,150,000
Premium/Discount to List
$101,000
9.63%
Views
59
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$20,006
Avg. Annual Appreciation
-3.43%
Original Mortgage
$816,000
Outstanding Balance
$812,643
Interest Rate
7.04%
Mortgage Type
New Conventional
Estimated Equity
$320,646
Purchase Details
Listed on
Nov 8, 2024
Closed on
Feb 3, 2025
Sold by
7125 La Cienega Llc
Bought by
Dallakyan Arshak
Seller's Agent
Kaela Whelan
Compass
Buyer's Agent
Kristina Akopyan
Beverly Global Realty
List Price
$1,049,000
Sold Price
$1,150,000
Premium/Discount to List
$101,000
9.63%
Views
59
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$816,000
Outstanding Balance
$812,643
Interest Rate
7.04%
Mortgage Type
New Conventional
Estimated Equity
$320,646
Purchase Details
Listed on
Aug 26, 2024
Closed on
Sep 29, 2024
Sold by
Biers Family Trust and Biers-Ariel Matthew
Bought by
7125 La Cienega Llc
Seller's Agent
Filip Niculete
Marcus & Millichap
Buyer's Agent
Filip Niculete
Marcus & Millichap
List Price
$995,000
Sold Price
$915,000
Premium/Discount to List
-$80,000
-8.04%
Views
6
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
85.49%
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | -- | Ticor Title Company | |
| Grant Deed | $1,150,000 | Ticor Title Company | |
| Grant Deed | $915,000 | Ticor Title Company |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $816,000 | New Conventional |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/28/2025 02/28/25 | Sold | $1,150,000 | +9.6% | $629 / Sq Ft |
| 01/10/2025 01/10/25 | Pending | -- | -- | -- |
| 11/08/2024 11/08/24 | For Sale | $1,049,000 | +14.6% | $574 / Sq Ft |
| 10/17/2024 10/17/24 | Sold | $915,000 | -8.0% | $501 / Sq Ft |
| 09/04/2024 09/04/24 | Pending | -- | -- | -- |
| 08/26/2024 08/26/24 | For Sale | $995,000 | -- | $544 / Sq Ft |
Source: The MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,349 | $915,000 | $525,000 | $390,000 |
| 2024 | $2,349 | $167,060 | $117,847 | $49,213 |
| 2023 | $2,309 | $163,786 | $115,537 | $48,249 |
| 2022 | $2,210 | $160,575 | $113,272 | $47,303 |
| 2021 | $2,175 | $157,427 | $111,051 | $46,376 |
| 2020 | $2,191 | $155,814 | $109,913 | $45,901 |
| 2019 | $2,115 | $152,759 | $107,758 | $45,001 |
| 2018 | $2,029 | $149,765 | $105,646 | $44,119 |
| 2016 | $1,922 | $143,951 | $101,545 | $42,406 |
| 2015 | $1,897 | $141,790 | $100,020 | $41,770 |
| 2014 | $1,919 | $139,013 | $98,061 | $40,952 |
Source: Public Records
Agents Affiliated with this Home
-
-
K
Buyer's Agent in 2025
Kristina Akopyan
Beverly Global Realty
-
Seller's Agent in 2024
Filip Niculete
Marcus & Millichap
(818) 357-9525
4 in this area
106 Total Sales
-
Seller Co-Listing Agent in 2024
Glen Scher
Marcus & Millichap
(818) 212-2700
4 in this area
43 Total Sales
Map
Source: The MLS
MLS Number: 24-432117
APN: 2240-015-014
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© 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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