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$ 2,000,000
Est. payment | /mo
20 Beds
11 Baths
8,382 SqFt
$ 2,000,000
Est. payment | /mo
20 Beds
11 Baths
8,382 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,382 sqft
Price per Sqft $238
MLS Listing ID 25525687
Bedrooms 20
HOA Y/N No
Year Built 1963
Lot Size 9,003 Sqft
Property Description
Constructed in 1963, the property sits on a corner lot and contains mostly two-bedroom units. A new investor may be able to add significant value to the asset as current rents sit well below those of similar neighboring properties. With approximately 62% rent upside, the investment provides a long runway for future income growth. Fortunately for a new investor, the property's expensive seismic retrofit repairs have already been completed (Buyer to verify). The building also features upgraded electrical panels, vinyl windows, and an upgraded roof, helping the owner to save on maintenance, utility, and insurance costs. There is on-site parking for 12 vehicles, while the laundry facilities provide a supplemental income stream for the owner. Located near the intersection of Laurel Canyon Boulevard and Vanowen Street, the property allows tenants convenient access to the 5 and 170 Freeways. The recently constructed NOHO West shopping center sits just one mile from the property, offering a convenient shopping and dining destination for residents. In addition to the Trader Joe's, Nordstrom Rack, LA Fitness, and Regal Cinemas featured in that center, the local neighborhood also includes Costco, Home Depot, and Target.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 12
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2321014005
Special Listing Condition Standard
Listed by Roderick 'Rick' Raymundo • Marcus & Millichap
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
101 N Indian Hill Blvd STE C1-208, Claremont, California, 91711, United States