10761 Burbank Blvd - Storefront Retail/Residential FOR SALE


North Hollywood, CA 91601
$1,245,000 USD
818-212-2776
10761 Burbank Blvd, North Hollywood, CA for Sale
$1,245,000 USD
Storefront Retail/Residential - FOR SALE
1/10
null | 5.26% Cap Rate

10761 Burbank Blvd
North Hollywood, CA 91601


HIGHLIGHTS

  • Mixed Use Asset featuring retail, 6 executive offices, and four studio apartments at the corner of Burbank & Riverton Ave in North Hollywood
  • Value-add opportunity with potential to expand residential units or convert offices to apartments
  • Current CAP rate 5.26% | Pro Forma CAP of 8.13% which includes a $149,480 improvement budget
  • Six on-site parking spaces (1.57/1,000)
  • Under the Adaptive Reuse Ordinance it makes it significantly easier to convert underutilized commercial buildings like vacant offices into housing

OVERVIEW

The City of Los Angeles is expanding its Adaptive Reuse Ordinance (ARO) to make it significantly easier to convert underutilized commercial buildings—especially vacant offices—into new housing. The update modernizes the original 1999 ARO, which helped create more than 12,000 units in Downtown LA, and now applies citywide. This property falls within this option and more details can be found at: https://planning.lacity.gov/odocument/6725f347-7fdb-42fa-aa6e-44c37f8fa999/Fact_Sheet_-_Adaptive_Reuse_Ordinance.pdf

FOR SALE DETAILS

PRICE

$1,245,000 USD

PRICE/SF

$326 USD /SF

CAP RATE

5.26%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Storefront Retail/Office, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1955

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,037 SF

ZONING

C2

APN/PARCEL ID

2415-018-013

ASK ABOUT THIS PROPERTY

Brin HamblinAgnew | Serling GroupMore Info
818-212-2776

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Brin HamblinAgnew | Serling GroupMore Info
818-212-2776

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.