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$ 6,388,888
Est. payment | /mo
41 Beds
41 Baths
24,256 SqFt
$ 6,388,888
Est. payment | /mo
41 Beds
41 Baths
24,256 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 24,256 sqft
Price per Sqft $263
MLS Listing ID 26833351
Bedrooms 41
HOA Y/N No
Year Built 1972
Lot Size 0.905 Acres
Property Description
The property has been under the same ownership for more than 30 years and current rents offer extensive room for growth. This creates a prime repositioning opportunity for a new owner to refresh apartment interiors and amenities to potentially recapture the 47% rent upside. The attractive asking price of only $155,827 per unit allows an investor to gain a sizeable foothold in the dense North Hollywood rental market at a relatively low price. In fact, only one property has sold at a lower price per unit in North Hollywood in the past year (Source: CoStar COMPS). The current owner has replaced all electrical subpanels throughout the building in 2026, which could help to reduce both insurance and utility costs substantially. A brand new water heater and storage tank were also installed in 2025, and all windows have been replaced and upgraded. The building does not appear on the Los Angeles Department of Building & Safety's Seismic Retrofit List, saving a new investor from an otherwise burdensome expense. The property offers a generous amount of on-site parking to tenants with 55 spaces, or 1.34 spaces per bedroom. The surplus of parking spaces helps provide additional income, as does the on-site laundry facility. Located near the intersection of Sherman Way and Coldwater Canyon Avenue, the property allows tenants convenient access to the Greater Los Angeles Metro Area via the nearby 170 Freeway. Residents also enjoy the building's proximity to several national retailers, including Trader Joe's, Home Depot, Ralphs, Vallarta Supermarkets, and Walgreens, all within three miles of the property.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 54
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2327014010
Special Listing Condition Standard
Listed by Roderick 'Rick' Raymundo Marcus & Millichap #01357019