$1,235,000
UNDER CONTRACT

Estimated payment $8,055/month

Total Views 2,796
3 Beds
2 Baths
4,730 Sq Ft
$261 Price per Sq Ft

About This Home

Located in a high-demand rental market, 7224 Hazeltine Ave presents an exceptional opportunity for investors seeking a well-maintained multifamily property with strong income potential. This six-unit building features a desirable unit mix of two 1-bedroom, 1-bath units and four 2-bedroom, 1-bath units, appealing to a broad tenant base. With on-site parking and storage, residents enjoy added convenience, enhancing the property’s long-term rental appeal.

The building has been upgraded for efficiency and durability, including a new roof installed in 2023 and copper plumbing, ensuring lower maintenance costs for years to come. Additionally, the property is individually metered for gas and electricity, allowing for reduced owner expenses. On-site laundry facilities provide further tenant convenience, adding to the property’s desirability.

Strategically located, the property offers easy access to major freeways, including the I-405 and CA-170, making it a prime spot for commuters. The Van Nuys Transit Station is just minutes away, and tenants will appreciate the convenience of nearby shopping, dining, and services, including Panorama Mall, Van Nuys DMV, and Los Angeles Valley College. With strong rental demand and tremendous upside potential, investors have the opportunity to increase returns over time.

With modern upgrades, excellent location, and future income growth potential, 7224 Hazeltine Ave is a standout investment opportunity in Van Nuys.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Listing Agent

James Antonucci

Keller Williams Realty-Studio City Brokerage Phone: 818-381-6601 License #01822661 Listed on: 04/29/2025

Keller Williams Realty-Studio City

Co-Listing Agent

Mike Pesci

Keller Williams Studio City Brokerage Phone: 818-381-6601 License #01274379

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1957

Lot Details

  • 6,396 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • Apartment

Interior Spaces

  • 4,730 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Parking

  • Carport
  • Parking Available

Location

  • Suburban Location

Listing and Financial Details

  • Tax Lot 223
  • Tax Tract Number 1000
  • Assessor Parcel Number 2216002056
  • $985 per year additional tax assessments

Community Details

Building Details

  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,960
  • Fuel Expense $2,960
  • Gardener Expense $1,500
  • Insurance Expense $4,730
  • Maintenance Expense $4,158
  • Other Expense $1,200
  • Pest Control $900
  • Trash Expense $2,160
  • Water Sewer Expense $2,960
  • New Taxes Expense $15,438
  • Operating Expense $38,965
  • Gross Income $103,945
  • Net Operating Income $64,980

Additional Features

  • 6 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1957

Lot Details

0

Listing Details

  • CapRate: 5.26
  • Price Per Unit: 205833
  • Property Attached: Yes
  • Water Sewer Expenses: 2960.00
  • Zoning: LAR3
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1500.00
  • Parcel Number: 2216002056
  • Year Built: 1957
  • Special Features: UnderContract

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 261.10

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Carport

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Pest Control Expense: 900.00
  • Sewer: Public Sewer
  • Trash Expense: 2160.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 6396.00
  • Lot Size Acres: 0.1468

Multi Family

  • Electric Expense: 2960.00
  • Fuel Expense: 2960.00
  • Gross Income: 103945.00
  • Gross Multiplier: 11.52
  • Gross Operating Income: 103945.00
  • Gross Scheduled Income: 107160.00
  • Insurance Expense: 4730.00
  • Laundry Income: 90.00
  • Lot Size Area: 6396.0000 Square Feet
  • Maintenance Expense: 4158.00
  • Maintenance Percent: 11.00
  • Net Operating Income: 64980.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 38965.00
  • Operating Expense Percent: 36.40
  • Other Expense: 1200.00
  • Other Expense Description: reserves
  • Rent Control: Yes
  • Total Expenses: 38965.00
  • Vacancy Allowance: 3215
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 15438.00
  • Tax Census Tract: 1271.04
  • Tax Lot: 223
  • Tax Tract Number: 1000
  • TaxOtherAnnualAssessmentAmount: 985.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/29/2025 04/29/25 For Sale $1,235,000 -- $261 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR25094535

California Regional Multiple Listing Service (CRMLS)