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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7240 Woodman Ave Van Nuys, CA 91405-2660

    • Apartment buildings
    • 16,060 SF
    • 0.51 lot acres
    OFF-MARKET
    Last Sale
    Apr 19, 2022
    $4,750,047
    Value Estimations
    $4,445,000
    Show details
    Cap Rate Potential
    6.2%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-6178856
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Boost Services / Hvac Contractor

    Property Details for 7240 Woodman Ave

    Year built
    1952
    Construction
    WOOD
    Lot size
    0.51 lot acres
    Property size
    16,060 SF
    Zone code
    LAR3
    Property type
    Apartment buildings
    APN
    2328-006-025
    APU
    2328006025

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,165,000
      ML approach
      $4,175,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,305,000
      6.5%
      $3,975,000
      7%
      $3,690,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,859,000
      Market price range: $2.46M - $4.86M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,475,000
      Current use
      MEDICAL BUILDING
      $7,300,000
      Change: +110% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $6,915,000
      Change: +99% Conversion: Moderate
      OFFICE BUILDING
      $5,860,000
      Change: +69% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Van Nuys
    County
    Los Angeles
    State
    California
    Longitude
    -118.431
    Latitude
    34.2025
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $61,737
    $2,965,140
    $1,976,760
    $4,941,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,860,000
      16,402 SF

      7119 Hazeltine Ave

      APARTMENT HOUSE (5+ UNITS) • 16,402 SF
      7119 Hazeltine Ave, Van Nuys, CA 91405-5310
      View Details
    • Value Estimation
      $1,400,000
      8,418 SF

      7455 Hazeltine Ave

      APARTMENT HOUSE (5+ UNITS) • 8,418 SF
      7455 Hazeltine Ave, Van Nuys, CA 91405-1476
      View Details
    • Value Estimation
      $2,025,000
      16,789 SF

      7244 Kester Ave

      APARTMENT HOUSE (5+ UNITS) • 16,789 SF
      7244 Kester Ave, Van Nuys, CA 91405-2174
      View Details
    • Value Estimation
      $2,710,000
      23,828 SF

      6929 Kester Ave

      APARTMENT HOUSE (5+ UNITS) • 23,828 SF
      6929 Kester Ave, Van Nuys, CA 91405-3523
      View Details
    • Value Estimation
      $2,330,000
      14,579 SF

      7304 Kester Ave

      APARTMENT HOUSE (5+ UNITS) • 14,579 SF
      7304 Kester Ave, Van Nuys, CA 91405
      View Details
    • Value Estimation
      $3,045,000
      27,034 SF

      15025 Saticoy St

      APARTMENT HOUSE (5+ UNITS) • 27,034 SF
      15025 Saticoy St, Van Nuys, CA 91405-1110
      View Details

    Similar Nearby for Sale

    • $4,600,000
      18,333 SF

      Van Nuys 20-Unit Apartment Building

      Prime Van Nuys location, 20 units, strong NOI.
      6840 Kester Ave, Los Angeles, CA 91405
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    • $399,000
      971 SF

      Updated Townhome with Prime Location

      Move-in ready townhome featuring updated interiors and convenient amenities.
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    • $2,295,000
      4,080 SF

      Renovated Triplex in Van Nuys

      Modern, renovated triplex with spacious units near shopping and dining.
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    • $495,000
      1,090 SF

      Van Nuys Townhouse Corner Unit

      Well-maintained 2 bedroom, 2.5 bath townhouse in a gated community.
      14715 Saticoy St, Van Nuys, CA 91405
      View Details
    • $635,000

      Updated Townhouse in Van Nuys

      Updated 3-bedroom, 3-bath townhouse with modern amenities in Van Nuys.
      7020 Lennox Ave, Van Nuys, CA 91405
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    • $1,595,000
      4,500 SF

      Van Nuys Freestanding Building

      Freestanding building in Van Nuys with ground level doors.
      15117 Keswick St, Van Nuys, CA 91405
      View Details

    Similar Nearby for Lease

    • $2,595 /Mo

      Spacious Condo with Modern Amenities

      Top-floor condo with new appliances, community pools, and convenient location.
      14839 Sherman Way, Van Nuys, CA 91405
      View Details
    • $19 SF/Yr
      1,000 SF

      Van Nuys Blvd Retail Space

      Prime Los Angeles Retail/Office Opportunity
      7621 Van Nuys Blvd, Los Angeles, CA 91405
      View Details
    • $33 SF/Yr
      3,000 SF

      Van Nuys Blvd Retail Space

      Prime Los Angeles Retail Opportunity: 3,000 sq ft.
      6600 Van Nuys Blvd, Los Angeles, CA 91405
      View Details
    • Contact for pricing
      2,034 SF

      Van Nuys Office Space Available

      Second floor office space available for rent in Van Nuys.
      14600 Sherman Way, Van Nuys, CA 91405
      View Details
    • Contact for pricing
      3,199 SF

      Van Nuys Office Space

      Office space available for rent in Van Nuys, CA.
      14624 Sherman Way, Van Nuys, CA 91405
      View Details
    • $1.95 SF/Yr
      24,638 SF

      Refurbished Office Suite with Parking

      Move-in ready office suite with excellent views and free parking.
      6851 Lennox Ave, Van Nuys, CA 91405
      View Details
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    7240 Woodman Ave
    Van Nuys, CA 91405-2660
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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