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11731 Runnymede Street

North Hollywood, CA 91605
  • $2,395,000
  • STATUS: Active Under Contract
  • ON SITE: 109 Days
  • ID#: PW24039517
Under Contract
UPDATED: 135 min ago
$2,395,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
2019
County:

School Ratings & Info

Listing Agent(s): Greg Foster of Skymark Real Estate Group (213-910-5060)


Description

Discover a prime investment opportunity in the heart of North Hollywood, just moments from the vibrant NOHO Arts District. This newer construction apartment complex is excluded from LA rent control and features 4 spacious apartments plus a BONUS 5th non-conforming unit ideal for short-term Airbnb rentals. Built in 2019, contemporary features include open floorplans, LVP flooring, quartz counters and stainless steel appliances. Large 2 and 3 bedroom unit mixes! Tenants enjoy the convenience of central AC, in-unit laundry, and two covered parking spaces each. Located in an opportunity zone with easy access to freeways and amenities, this property presents a savvy investor with excellent rental upside and low operating costs. Huge upside on rents - plus, property qualifies for 1-4 unit financing - even though it has a 5th bonus non-conforming unit! Tenants pay for all utilities including electricity, gas and water. Inquire today for full details!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T19:31:48.303. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
www.mainstreetgroup.com/homes/147998746
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11731 Runnymede Street North Hollywood, CA 91605

  • Price: $2,395,000
  • Status: Active Under Contract
  • On Site: 109 Days
  • Updated: 135 min ago
  • ID#: PW24039517
0
Beds
0
Baths
0
½ Baths
0.16
Acres
2019
Built
Neighborhood:
NHO - North Hollywood
County:
Los Angeles
Area:
NHO - North Hollywood
Property Description
Discover a prime investment opportunity in the heart of North Hollywood, just moments from the vibrant NOHO Arts District. This newer construction apartment complex is excluded from LA rent control and features 4 spacious apartments plus a BONUS 5th non-conforming unit ideal for short-term Airbnb rentals. Built in 2019, contemporary features include open floorplans, LVP flooring, quartz counters and stainless steel appliances. Large 2 and 3 bedroom unit mixes! Tenants enjoy the convenience of central AC, in-unit laundry, and two covered parking spaces each. Located in an opportunity zone with easy access to freeways and amenities, this property presents a savvy investor with excellent rental upside and low operating costs. Huge upside on rents - plus, property qualifies for 1-4 unit financing - even though it has a 5th bonus non-conforming unit! Tenants pay for all utilities including electricity, gas and water. Inquire today for full details!
Exterior Features

Entry Level 1 Entry Location Ground Lot Features Near Public Transit Number Of Separate Electric Meters 4 Parking Features Covered Parking Total 8 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Cap Rate 5.04 Common Interest None Community Features Sidewalks Contingency Only Inspection Contingent Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 0 Gross Scheduled Income 172968 Insurance Expense 0 Land Lease YN No Laundry Features Inside Levels Three Or More Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash to New Loan Net Operating Income 120800 New Construction YN Yes Number Of Separate Gas Meters 4 Number Of Separate Water Meters 4 Operating Expense 46978 Property Sub Type Quadruplex Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TVElectricityGas Trash Expense 0 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public Zoning LARD1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T19:31:48.303. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
 
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Mainstreet Realtors®
8577 Haven Ave, Suite 100
Rancho Cucamonga CA, 91730
Listing Agent(s): Greg Foster of Skymark Real Estate Group (213-910-5060)