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$1,449,000

Beds
4
Baths
3.0
sq ft
2,132

6648 Peach Ave, Van Nuys, CA 91406

6648 Peach Ave

Van Nuys, CA 91406

  • 100 days on market
    • Price drop $50,000↓
Exceptional Midvale Estates Home Remodeled with Extensive ADU Potential. Discover the epitome of modern living and investment potential in the prestigious Midvale Estates neighborhood of Van Nuys, CA. This beautifully remodeled single-family home sits on a sprawling 11,300 sq. ft. lot and offers an unparalleled opportunity for creating generational wealth. With 4 bedrooms, 3 bathrooms, and a host of additional features, this property is perfect for families and investors alike. As you step inside, you'll be greeted by a bright and airy open concept living area, seamlessly connecting the living room, dining area, and gourmet kitchen. The kitchen is a culinary masterpiece, featuring high-end new appliances, custom cabinetry, and an expansive eat-in bar area with quartz countertops ideal for casual meals and entertaining. The master suite is a private sanctuary, complete with a luxurious en-suite bathroom that boasts a new vanity, a lighted vanity mirror, and a separate shower. Three additional bedrooms offer ample space for family, guests, or a home office. What sets this property apart is its incredible investment potential. The property features an opportunity to build 3 separate detached ADU's. There's an existing detached 3-car garage (approx.. 660 sqft.), with nearly approved RTI plans for a 2-story ADU build (1st Unit). Additionally, a separate detached 2-car garage and covered carport/breezeway with plans submitted for a Junior ADU conversion (2nd Unit). At the Northeast corner of the property, architectural plans have already been submitted for a brand-new, detached 3-bedroom, 3-bathroom ADU (3rd Unit). This extensive ADU potential makes the property an ideal long-term rental hold, allowing you to maximize your rental income and instantly create generational wealth. With the flexibility to develop multiple living spaces, this property is rare in a prime location. Located in the heart of Midvale Estates, this home offers easy access to parks, top-rated schools, shopping, and dining. Midvale Estates is one of the most famous filming neighborhoods in Los Angeles because it looks like "Anywhere USA." Home to many commercial shoots, films, and TV Production. Residents in this area can benefit from renting out their homes and earn additional income. Don't miss this unique opportunity to own a property that combines luxurious living with unmatched investment potential. Schedule your private showing today!

Details

Property type

Single Family Residence

Est. home value

$989,194

Property condition

Updated/Remodeled

Lot size

0.2583 acres

Price per sq ft

$680

Year built

1948

HOA

No

Price History

10/15/2024
CLAW

CLAW #24427142

Price change
$1,449,000
-3.34%
08/13/2024
CLAW

CLAW #24427142

Listed
$1,499,000
+35.05%
01/26/2024
CRMLS

CRMLS #SR24003395

Sold
$1,110,000
-1.77%

Schools & Community

Neighborhood: 

Van Nuys

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$452,240
Asking price
$1,449,000
Closing costs (~8% of asking)
-$115,920
Est. remaining loan balance
-$880,840
Cash to seller
$452,240

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Cmg Mortgage Inc

Loan start date

January 2024

Original loan amount

$888,000

Est. remaining balance

$880,840

Interest rate

7.22%

Loan type

New Conventional, 30 year

Seller

Joseph Marashlian

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 11/22/2024 at 6:20 AM

Listing updated: 11/08/2024 at 6:35 PM

Listed by: Cesar Leyva, Avenue Homes Phone #: (323) 954-6420

MLS: CLAW #24427142

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