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$ 4,500,000
Est. payment | /mo
17,466 SqFt
$ 4,500,000
Est. payment | /mo
17,466 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 17,466 sqft
Price per Sqft $257
MLS Listing ID CL25506299
HOA Y/N No
Year Built 1982
Lot Size 0.334 Acres
Acres 0.33
Property Sub-Type Other
Property Description
Located in the heart of North Hollywood, 6819 Laurel Canyon Blvd. presents a rare 20-unit investment opportunity with significant rental upside and no local rent control restrictions. Built in 1982, this courtyard-style complex allows for annual rental increases of 5% + CPI (currently 8.9%). Offered at $225,000 per unit and $258 per square foot, the property is priced as a high-potential value-add investment. With 60% rental upside, investors can achieve a stabilized 9.45% CAP rate and a 7.78 GRM, based on market-rate renovated units in the area. The unit mix consists of (16) two-bedroom, two-bath units, (3) one-bedroom units, and (1) studio. Beyond the strong in-place income and rental upside, 6819 Laurel Canyon sits on a large 14,555 SF lot, offering the opportunity to add ADUs for even greater cash flow potential (buyer to verify). The property also features subterranean parking for approx. 37 vehicles, a new roof, and a new water heater, minimizing future capital expenditures. Situated just north of Vanowen St. and 2.5 miles from the NoHo Arts District, the property is positioned in one of the most dynamic and evolving submarkets in LA. North Hollywood has seen an influx of investment, including the transformative 15-acre NoHo Metro Station redevelopment, adding 1,500 new res
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Laundry Community Facility, In Garage
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 2321026043
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Listed by Kenny Stevens • Compass