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Listed by Shira Dunn • Keller Williams Luxury
$ 1,485,000
Est. payment | /mo
7,941 Sqft Lot
$ 1,485,000
Est. payment | /mo
7,941 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSR25040091
Originating Board California Regional MLS
Year Built 1951
Lot Size 7,941 Sqft
Property Description
Back on the market, canceled at no fault to seller! Rare opportunity! 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
Area Nho - North Hollywood
Interior
Laundry Washer, Dryer
Exterior
Garage Spaces 8.0
Pool None
Building
Water District - Public
Others
Tax ID 2321022022
Special Listing Condition Not Applicable
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Ben Dodge
REALTOR® | Lic# DRE 01959374