11655 Burbank Blvd - Apartments FOR SALE


North Hollywood, CA 91601
$2,345,000 USD
818-640-4360
11655 Burbank Blvd, North Hollywood, CA for Sale
$2,345,000 USD
Apartments - FOR SALE
1/24
null | 3.94% Cap Rate

11655 Burbank Blvd
North Hollywood, CA 91601


HIGHLIGHTS

  • The property is on a 14,321 sf, R3 lot. A developer can add ADU units to the existing lot or hold as a future land bank and build units or condominium
  • Subject property consists of an existing fourplex and a single family residence
  • Existing unit mix consists or a 2 bedroom one bath single family residence and a four plex consisting of (2)2+1 units and (2) 1+1 units
  • The property is in a very nice rental pocket of North Hollywood
  • Upside in existing rents
  • The lots can be sold together or can be sold individually; the SFR is vacant

OVERVIEW

Equity Union Commercial is proud to represent these two side-by-side buildings for land value. Its unit mix consists of (2) 1+1 units, (2) 2+2 units, and (1) 2+1 unit single family residence . With a lot size of 14,321 square feet, the property has a total of 4,196 rentable square feet. North Hollywood offers many things to see and do, especially in its NoHo Arts District, which has been greatly expanding into a hip, pedestrian-friendly urban village. North Hollywood has historic shopping and interesting local restaurants and bars that make it a diverse, thriving neighborhood. It is home to many theatres, art galleries, cafes, music recording venues, and shops. Its residents have easy access of public transportation with the Metro rail stations and the North Hollywood Red Line and Orange line bus ways. They also have easy access to the 101, 170, and 134 freeways. North Hollywood is currently working on a $1 billion mixed-use development at Lankershim and Chandler; the project will re-develop 15.6 acres of commercial and residential space, including 562 residential units and three high-rise office towers. This, combined with an already thriving Arts District, makes North Hollywood a smart place to invest. The property is separately metered for gas and electricity.

FOR SALE DETAILS

PRICE

$2,345,000 USD

PRICE/SF

$559 USD /SF

# OF UNITS

5

PRICE/UNIT

$469,000

CAP RATE

3.94%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

11649 - 11655 Burbank Blvd.

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,773 SF

ZONING

R3

APN/PARCEL ID

2339-015-022,2339-015-023

ASK ABOUT THIS PROPERTY

Cindy HillEquity Union CommercialMore Info
818-640-4360

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Cindy HillEquity Union CommercialMore Info
818-640-4360

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