Back on the market, canceled at no fault to seller! Rare opportunity! Whether you choose to build the ADU’s and sell for a profit or retain the property for long-term income, the potential is substantial. With 6 units occupied and 1 vacant, and 3 units completely and newly remodeled, a path to achieving a 5.6% gross rate, this investment offers immediate returns and significant upside.
Presenting a rare opportunity to acquire a well-maintained 7-unit, 2 story residential building in the heart of North Hollywood. This 4,081 sq. ft. property is situated on a 7,882 sq. ft. lot, with each unit featuring a 1-bedroom, 1-bathroom layout. The uniform floor plans offer operational efficiency and broad appeal to a diverse tenant base, ensuring ease of management.
Zoned LARD1.5, this property provides exciting development potential, making it an ideal blend of immediate cash flow and long-term growth prospects. Units are leased with dependable tenants, providing steady cash flow and peace of mind. Plans have been submitted to add two Additional Dwelling Units (ADUs) at the rear, presenting a compelling value-add opportunity.