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$1,950,000
Est. payment /mo
7,975 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26990863
HOA Y/N No
Year Built 1961
Tax Year 2025
Lot Size 7,975 Sqft
Property Description
Excellent investment opportunity in North Hollywood featuring a well-maintained 7-unit multifamily property with a desirable unit mix of five 2-bedroom/1-bath units and two spacious 3-bedroom/2-bath units. One of the 2-bedroom units has been completely remodeled and is currently achieving a market rent of $2,500 per month, providing a strong indication of the property's rental potential.The property benefits from very low maintenance and operating costs, making it an attractive opportunity for investors seeking stable income with additional upside potential. Ownership has also completed several significant improvements, including a brand-new second-story walkway, repaired and improved second-floor railings, refreshed exterior paint, replacement of the sewer line beneath the property, and an upgraded water heater with a recirculation pump designed to improve efficiency and hot-water delivery throughout the building. The property has also undergone required retrofit compliance work. Units 2, 3, 6, and 7 have been upgraded with hardwood flooring.Adding to the property's operating efficiency, tenants are individually responsible for their trash service, which is incorporated into their respective utility billing rather than being carried as a building expense.With its strong unit mix, low maintenance costs, recent capital improvements, and demonstrated ability to achieve attractive market rents, this property presents a compelling opportunity for both long-term investors and 1031 exchange buyers.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LARD1.5
Interior
Fireplace No
Laundry Common Area
Exterior
Roof Type Asphalt
Total Parking Spaces 9
Building
Story 2
Water Public
Others
Tax ID 2320026013
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
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Listed by Artin Hovsepian The Agency #01878602
NEARBY SCHOOL & BUSINESS
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