Income Property & Prime Development Opportunity in Woodland Hills! Welcome to 22522 & 22524 Clarendon Street-a highly desirable and fully gated income-producing compound featuring two detached single-family homes on a sprawling, flat 12,420 sq. ft. lot. Accessible via a wide rear alley and secured by a recently installed iron fence and gate, this property offers incredible immediate cash flow along with massive upside for ADU conversion and future expansion. The Front House (22522 Clarendon): Beautifully updated, this 1,125 sq. ft. home offers 2 bedrooms and 2.5 bathrooms. It boasts extensive recent upgrades, including a brand new roof, new HVAC system, new flooring, fresh paint, and modern recessed lighting. This turnkey unit is ready to lease at projected market rents of 3,500 to 3,500 to 3,900/month, or it serves as a perfect owner-user home. The Back House (22524 Clarendon): Offering 1,152 sq. ft. of comfortable living space, the back home features 2 bedrooms and 2 bathrooms, plus a newly built separate storage structure that serves as a dedicated laundry area. This unit is currently tenant-occupied at $2,800/month (with immediate room for a 5% increase), providing steady income from day one. Unmatched ADU & Development Upside: A major highlight of this property is the newly constructed, 600 sq. ft. 3-car garage (a $135,000 investment built just one year ago). The groundwork has already been laid for an incredibly low-cost ADU conversion-plumbing connections are already routed! Transform this structure into a lucrative 1-2 bedroom / 2-bath ADU to maximize your cap rate. Additionally, the massive 12,420 sq. ft. lot provides ample remaining space to build another unit or extend the existing homes. Whether you are an investor looking to capitalize on existing cash flow with a clear path to high-yield value-add, or a buyer looking to live in one home and rent the other, this property is a rare find. Properties with this level of structural upgrades, alley access, and pre-plumbed ADU potential do not last long. (Buyer to independently verify all square footage, lot size, zoning, rent control laws, and development/ADU potential with the city.)