12211 12221 VANOWEN STREET, NORTH HOLLYWOOD CA 91605
- 17,394 sq.ft.
- 9,228 sq.ft. lot
The investment offering is a 28 unit multifamily property comprised of two 14 unit apartment complexes on two separate, but adjacent parcels. Each building has 12 one bedroom one bath units, and 2 two bedroom one bath units. The property has been very well maintained by the same family who has owned and operated the building for two generations. Over the years, approximately 50% of the plumbing has been upgraded to copper piping. Recent capital improvements consist of new roofs, new decking/stairs, new exterior paint, new automated parking gate. Several units have been upgraded with hardwood floors and stainless steel appliances as they have turned over, yielding up to a 40% increase in rent rates. The property has a common driveway entering the secured parking with 14 tuck under parking spaces per building for a total of 28 vehicles. The property is subject to the Soft-Story Retrofit Ordinance #183893 which the buyer shall be responsible for compliance after the closing. The property is located in North Hollywood, just minutes from the NOHO Arts District, Universal Studios, Burbank, Toluca Lake and Sherman Oaks, and is within a few blocks of the Whitsett Sports Fields, Bellingham Elementary, eateries, and Ralphs Grocery on Laurel Canyon. This location provides convenient access to the major employment centers of Downtown Los Angeles and Hollywood via the 170/134/101 freeway system.
Listing Courtesy of Stephen Lampe, Re/Max Commercial & Investment
raj qsarCEO | Owner |
- cell 714.412.5019
- office 949.612.2535
Based on information from California Regional Multiple Listing Service, Inc. as of August 10, 2018. 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.