Under the same ownership since 1993, the subject property is comprised of (2) two-story buildings totaling 9,809 bldg. SF that sit on a spacious 15,075 SF double lot, and is comprised of (1) two-bedroom and one bath unit and (15) one bedroom and one bath units. Additionally, the subject property offers 16 surface parking spaces and each unit has been separately metered for gas and electricity. 6916-6924 Laurel Canyon presents a significant value-add opportunity to investors, as current rents are approx. 53% below market value for nicely remodeled units in the area.With significant upside in rents based on conservative market rates and an up-and-coming location, this value-add project presents investors with the opportunity to acquire an asset with incredible promise
16 Units in North Hollywood with 53% Upside in Rents
6916-6924 Laurel Canyon Boulevard, North Hollywood
Property Details.
Price $3,200,000
Year Built 1964
# of Units 16
Price P/ Unit $200,000
Sq. ft. 9,809 SF
Price p/ Sq. ft. $326
Current Cap Rate 3.61%
Proforma Cap Rate 6.82%
Lot Size 15,075
Zoning LAR3-1
6916-6924 Laurel Canyon Boulevard
North Hollywood, CA 91605
North Hollywood, CA 91605
