$ 2,095,000
6711 Tujunga Avenue North Hollywood, CA 91606
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$ 2,095,000
Est. payment /mo
Active
6711 Tujunga Avenue North Hollywood, CA 91606
1 Bed
4 Baths
0.31 Acres Lot
UPDATED:
09/18/2024 05:45 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR24056706
Bedrooms 1
HOA Y/N No
Lot Size 0.312 Acres
Property Description
The Tujunga property currently consists of thirteen multifamily units with two, one bedroom one bath units and eleven singles individually metered for electric. The property is professionally maintained and the square footage of the combined, individual parcels gives the property an excellent potential for redevelopment. The rent survey conducted for this property indicates significant upside upon the relaxation of Covid restrictions by both the City and County of Los Angeles. Rents have not been increased for some time and the rent increase freeze may be lifted early2024. With upgrades, Tujunga Apartments could achieve rent levels commensurate with those properties surveyed. It is also important to note that the comparables chosen are low to mid-range at the time of publication and, depending on the improvements contemplated by the investor, actual rent targets could be higher.
The Tujunga property currently consists of thirteen multifamily units with two, one bedroom one bath units and eleven singles individually metered for electric. The property is professionally maintained and the square footage of the combined, individual parcels gives the property an excellent potential for redevelopment. The rent survey conducted for this property indicates significant upside upon the relaxation of Covid restrictions by both the City and County of Los Angeles. Rents have not been increased for some time and the rent increase freeze may be lifted early2024. With upgrades, Tujunga Apartments could achieve rent levels commensurate with those properties surveyed. It is also important to note that the comparables chosen are low to mid-range at the time of publication and, depending on the improvements contemplated by the investor, actual rent targets could be higher.
The Tujunga property currently consists of thirteen multifamily units with two, one bedroom one bath units and eleven singles individually metered for electric. The property is professionally maintained and the square footage of the combined, individual parcels gives the property an excellent potential for redevelopment. The rent survey conducted for this property indicates significant upside upon the relaxation of Covid restrictions by both the City and County of Los Angeles. Rents have not been increased for some time and the rent increase freeze may be lifted early2024. With upgrades, Tujunga Apartments could achieve rent levels commensurate with those properties surveyed. It is also important to note that the comparables chosen are low to mid-range at the time of publication and, depending on the improvements contemplated by the investor, actual rent targets could be higher.
Location
State CA
County Los Angeles
Area North Hollywood (91606)
Zoning Assessor
Exterior
Garage Unit1:Assigned
Building
Story 1
Level or Stories 1 Story
Others
Monthly Total Fees $82
Space Rent $11,735
Listed by Braemon Hanes • Hanes Investment Rlty