11966 RUNNYMEDE STREET, NORTH HOLLYWOOD CA 91605
- 7,234 sq.ft.
- 13,499 sq.ft. lot
Property Description
We are proud to present Las Casitas — a well-performing, workforce housing investment located at 11966 Runnymede St. in the high-demand rental market of North Hollywood, CA. Positioned as a core cash-flow asset with remaining value-add upside, Las Casitas offers both immediate income and future growth potential. Priced to move at a compelling ~6.42% Cap Rate, this is a rare opportunity to acquire a strong-performing asset in a quality rental market at an attainable loan-to-value. The property spans ±7,234 SF of improvements on an expansive ±13,400 SF LARD2-zoned lot, consisting of: + A front house built in 1947 + Two apartment buildings constructed in 1964 Construction is wood frame and stucco exterior, with exterior paint completed in recent months. The front house has had several major upgrades in recent years, including: + Newer roof + Updated A/C + Newer water heater Most apartment units feature tile flooring for ease of maintenance, and nearly all have newer hot water heaters. The apartment building roof is approximately 10 years old and has been regularly maintained. Parking & Layout The property is well parked, with: + A 2-car garage attached to the front home + 4 tandem spaces + 3 single spaces = 13 total parking spaces Unit Mix, Amenities & Upside Potential + 6 (2+1.5) townhome-style units + 1 (4+1.5) single-family home Each apartment unit features its own private, enclosed yard or patio, supporting higher tenant satisfaction and rental premiums. With rents still below market in several units, the property offers room for rental increases through gradual turnover and light interior upgrades. At the rear of the property are two 10'x12' storage sheds of high Home Depot quality. One is rented for $150/month; the other will be available, with market rent potential of $250/month or more. Efficiency & Cost Control + Separately metered for gas and electric (no house meter) + Trash service is included in LADWP and billed to tenants + Low-maintenance, drought-tolerant landscaping keeps operating costs minimal Las Casitas is a low-maintenance asset that balances current performance with future upside. Whether you’re seeking steady cash flow, value-add opportunity, or a long-term hold in a dynamic submarket, this investment checks all the boxes.
Listing Courtesy of Raymond Rodriguez, Equity Union
Interior Features
Exterior Features
Use of this site means you agree to the Terms of Use
Based on information from California Regional Multiple Listing Service, Inc. as of May 6, 2025. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
