RTI DEVELOPMENT OPPORTUNITY! Your next investment awaits--This lot, located in the heart of North Hollywood, is a prime location for a multifamily asset. Approved plans for the future development feature a total of 6 units comprising four 4-bedroom units, one 2-bedroom ADU, and one recreational room that is to be converted to a second 2-bedroom unit after C of O totaling 20 bedrooms, 16 bathrooms, and over 9,000 SF of building area. The 4-bedroom floor plans boast over 1,700 SF and will come with either 3 or 4 bathrooms; each will come with a private 2-car garage and a private rooftop deck. Currently on the lot stands a VACANT 1,561 SF 3-bedroom, 1-bathroom single family house and a 622 SF detached garage. Located amidst the North Hollywood Arts District, LA Metro Bus and Train connection hubs, schools, parks, dining, and nightlife this community has all that city savvy renters are vying for.
Introducing a promising duplex situated on a 6,415 SqFt corner lot with LARD2 zoning in the heart of North Hollywood. This property offers a lucrative combination of development potential and income-generating opportunity in a neighborhood that is undergoing rapid growth and transformation. With its strategic location just minutes from Studio City, Toluca Lake and Burbank, and its proximity to the dynamic NoHo Arts District, bustling NoHo West, major freeways and the North Hollywood Subway station, this duplex presents an ideal investment prospect for those seeking to participate in the neighborhood's exciting trajectory. The gated property features a 1,024 SqFt, 2-bedroom, 1-bathroom unit and a 437 SqFt, 1-bedroom, 1-bathroom unit, complemented by a detached 2-car garage. Whether you're seeking an investment opportunity or a home with additional income, this duplex offers a promising future filled with potential. The property is tenant occupied and priced accordingly. Don't miss out on this exclusive opportunity unlike anything else currently available on the market!
Luxuriously renovated in 2019, this property comprises a 3-bedroom, 3-bathroom single-family residence PLUS a detached 3-bedroom, 3-bathroom ADU that was built in 2019. The appealing homes offer a comfortable living space, creating a sense of attachment for the residents. Situated just 5 minutes away from the vibrant NoHo Arts District and NoHo West, the front house is currently rented out for $3,800 a month, while the back house fetches $3,500 a month with excellent tenants. The property boasts low maintenance costs, promising good returns and future potential. The 7,140 square foot lot features charming landscaping, organized front yard, high ceilings, well-planned layouts, high-quality finishes, stainless steel appliances, washers and dryers in each unit, and more. Buyers are advised to verify the square footage of the house and property details. Please do not disturb the tenant. Consider Buydown loan program. NAF Cash program is good option for buyer.
We are proud to present 5020 Tujunga Avenue - a value add real estate opportunity located in North Hollywood, CA. The 40 unit building is comprised of 15- Bachelors 24- Studios complimented by 1- 1 bedroom unit. Constructed in 1965, the property spans 17,690 gross square feet, and is set on a 0.51-acre lot. The property has ample parking spots for tenants with easy access through an alley that leads behind the property. To enhance the quality of living for residents, the property features a smoke-free environment, security systems, intercom, storage spaces, laundry facilities, pool, maintenance & manager on-site, walk-in closets and balconies.One of this property's significant attractions is the great value-add potential. Current rents at the property are approximately 33% below the market rate, presenting a significant opportunity for the buyer. Assuming the buyer can turn over all units and achieve market rents throughout, we estimate that the units could bring in about $77,000 in gross rental income each month, or about $929,000 per year, increasing the buyer's CAP rate to 8.57%!With all rents being below 80% of AMI (Area Median Income), this property qualifies for lower than market-rate financing from Freddie Mac due to this affordability aspect. Additionally, a new owner can convert the project into affordable housing which could significantly lower property taxes and add a lot to the property's net income and value. Please reach out to learn more. The location of 5020 Tujunga Ave in North Hollywood is particularly noteworthy. Nestled in a vibrant and evolving area, this property benefits from its proximity to key commercial and entertainment hubs, including the NoHo Arts District, renowned for its lively arts scene, theaters, cafes, and eclectic dining options. Tenants have ease of access to North Hollywood & Valley Village Park as well as the North Hollywood Recreation Center directly across the street. Additionally, the property is well connected through public transportation networks and major roadways, enhancing accessibility and convenience for residents. The proximity to various film studios and creative industries in North Hollywood also makes this location desirable for professionals working within these sectors, potentially increasing demand for rental units.
Located on Willowcrest Avenue in North Hollywood, California, this multifamily investment is a great opportunity for those looking for a clean building with updated electrical and complete seismic retrofit. Offering a unit mix of (7) - 1 bed / 1 bath and (1) - studio / 1 bath a buyer will have the opportunity to capture huge rental upside through renovations.
This charming triplex property is located between Toluca Lake and the NoHo Arts District. This property offers 1-bed, 1-bath units, making it a great opportunity for living in one unit while renting out the others. Currently all units are tenant occupied. Two out of the three units have recently undergone complete updates, including laminate flooring, recessed lighting, and new doors. Additionally, all units are equipped with their own washer/dryer combo. Furthermore, the property features a 3-car garage that has the potential for an additional 3-bed, 2-bath unit to be built on top. One of the highlights of the property is the outdoor seating area providing a perfect setting for entertainment. There is also a BBQ area to enjoy during the summer. Overall, this property offers a wonderful living experience in North Hollywood's highly desirable neighborhood.
The Tujunga property currently consists of thirteen multifamily units with two, one bedroom one bath units and eleven singles individually metered for electric. The property is professionally maintained and the square footage of the combined, individual parcels gives the property an excellent potential for redevelopment. The rent survey conducted for this property indicates significant upside upon the relaxation of Covid restrictions by both the City and County of Los Angeles. Rents have not been increased for some time and the rent increase freeze may be lifted early2024. With upgrades, Tujunga Apartments could achieve rent levels commensurate with those properties surveyed. It is also important to note that the comparables chosen are low to mid-range at the time of publication and, depending on the improvements contemplated by the investor, actual rent targets could be higher.
If it says "ACTIVE" it is "ACTIVE." Attention investors, builders, and developers! Four-plex rare opportunity on a corner lot 9,000 Sqft. Zoning LARD3-1, with an incredible opportunity to build up to 18 units, or you can choose to build 2 ADUs, one in each two-car garage. Currently, there are a total of 4 units, each offering 1 bed and 1 bath. Each unit has a reserved parking space, and electric and gas meter. Buy it and start building a new 14,400 Sqft 3-story complex with 18 units and 36 bedrooms! Just minutes from the Bob Burbank Airport, Hollywood, and Universal Studios, the newly built NOHO West Shopping Plaza; is one of the area's latest developments where you can find the Regal movie theatre, Trader Joe’s, Starbucks, restaurants, boutiques, etc. Per Zimas.lacity.org, the property is an "Eligible Site ED 1" and may be applied to a shelter or 100% Affordable Housing Project on the site. Eligible projects receive expedited processing, clearances, and approvals through the ED 1 Ministerial Approval Process.
Two story commercial building in the heart of the NoHo arts district, a perfect location that is very desirable. This property features two stories with the first floor having a large open area that would be perfect for, office, show room, bullpen area, studio, restaurant or any creative use. In addition there is a large warehouse or additional open space and a conference room. Upstairs there is a 1 bedroom complete apartment that may be converted into additional offices or a working studio. The building has ally access and pass through access on the complete property through Magnolia. This area boasts industries as film, production; editing, industry agencies and photography just to name a few. This property features street access and rear accessibility for vehicles.
N Hollywood is located in California.
