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$1,599,000
Est. payment /mo
4,031 SqFt
UPDATED:
02/24/2025 01:22 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,031 sqft
Price per Sqft $396
MLS Listing ID CRSR25040091
HOA Y/N No
Year Built 1951
Lot Size 7,941 Sqft
Acres 0.18
Property Sub-Type Other
Property Description
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.
Location
State CA
County Los Angeles
Interior
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 2321022022
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Listed by Shira Dunn • Keller Williams Luxury
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