• 17,394 sq.ft.
  • 9,228 sq.ft. lot
offered at $4,750,000
Status: Active Under Contract // Property Type:
County: Los Angeles // Year Built: 1958

Property Description

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

Exterior Features

Exterior Features: Curbs
  • raj qsar
    CEO | Owner |
    CalBRE# 01744847
    • cell 714.412.5019
    • office 949.612.2535
    email Raj

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