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Whether you choose to build the ADUs and sell for a profit or retain the property for long-term income, the potential is substantial. With 6 units occupied and 1 vacant, a path to achieving a 5.6% gross rate, this investment offers immediate returns and significant upside.Presenting a rare opportunity to acquire a well-maintained 7-unit, 2 story residential building in the heart of North Hollywood. This 4,081 sq. ft. property is situated on a 7,882 sq. ft. lot, with each unit featuring a 1-bedroom, 1-bathroom layout. The uniform floor plans offer operational efficiency and broad appeal to a diverse tenant base, ensuring ease of management.Zoned LARD1.5, this property provides exciting development potential, making it an ideal blend of immediate cash flow and long-term growth prospects. Units are leased with dependable tenants, providing steady cash flow and peace of mind. Plans have been submitted to add two Additional Dwelling Units (ADUs) at the rear, presenting a compelling value-add opportunity.
Property Type(s):
Residential Income
| Last Updated | 11/19/2024 | Year Built | 1951 |
|---|---|---|---|
| Community | North Hollywood | Garage Spaces | 4.0 |
| County | Los Angeles |
Price History
| Prior to Nov 19, '24 | $1,599,000 |
|---|---|
| Nov 19, '24 - Today | $1,550,000 |
Additional Details
| APPLIANCES | Dryer, Washer |
|---|---|
| AREA | North Hollywood |
| GARAGE | Yes |
| LOT | 7941 sq ft |
| LOT DESCRIPTION | 6-10 Units/Acre |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| WATER | Public |
Location
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Listed with Keller Williams Coastal Properties
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.
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