$9,499,000 Price Analysis   ♡   North Hollywood, CA 91605 76 bed 48 bath 36,408 SqFt ($260/SqFt) 1.37 acre lot. Built 1970 Listed 2024-05-02, Taxes $68,580 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Property Details
Runnymede Holiday Apartments presents opportunity to acquire a desirable garden style 40 unit complex consisting of open grounds and attractive low-maintenance construction consisting of an ideal (12) 1 bedroom / 1 bath units, (20) 2 Bedroom / 1 bath units and (8) 3 bedroom / 2 bath units. The property does not possesses any decks, tuck-under parking or exterior catwalks, thereby removing large capital expenditure items for long-term operations. The grounds consist of mature vegetation, open walkways, a picnic and playground area, a large onsite laundry facility and fully gated grounds and parking. The property possesses significant income and quity growth potential with an in-place 4.45% cap rate and a 8.5% proforma cap rate on a proven loss to lease rent roll.
Select units are renovated with proven renovated proforma rents. Runnymede Holiday Apartments is well located in the vibrant neighborhood of North Hollywood. Known for its artistic flair, diverse community and convenient access to urban amenities, North Hollywood offers an enticing blend of entertainment, culture and lifestyle opportunities. The property is located with quick access to Highway 170, The Burbank Airport, Iconic Noho Arts District and various retail shops/centers in the immediate surrounding area. On a granular basis, the asset parcel is well located between a attractive nursery and low density multi family complex within 0.1 Miles of two new construction institutional grade Multifamily complexes showcasing a bullish microeconomic drive in the immediate pocket.
Presented by Maxwell R Brown at
Commerical Asset Advisors.
Property MLS #PTP2402516 from CRMLS
Lot Size Acres: 1.37
Lot Size Source: Public Records
Lot Size Square Feet: 59677
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 2
Bedrooms in Unit-3: 3
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 2
County: Los Angeles
Cap Rate: 4.45
Source Property Type: Residential Income
Area: NHO - North Hollywood
Source Neighborhood: NHO - North Hollywood
Number of Separate Electric Meters: 41
Number of Separate Gas Meters: 41
Number of Separate Water Meters: 1
Parcel Number: 2317017020
Zoning: Multifamily
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1,686,714 + $3,742,092 $5,428,806 | $68,580 |
| 2021 | $1,653,642 + $3,668,718 $5,322,360 | $67,581 |
| 2020 | $1,636,686 + $3,631,100 $5,267,786 | $68,219 |
| 2019 | $1,604,595 + $3,559,902 $5,164,497 | $65,644 |
| 2018 | $1,573,133 + $3,490,100 $5,063,233 | $64,693 |
| 2017 | $1,542,288 + $3,421,667 $4,963,955 | $63,300 |
| 2016 | $1,512,048 + $3,354,576 $4,866,624 | $61,535 |
| 2015 | $1,489,336 + $3,304,188 $4,793,524 | $60,672 |
| 2014 | $1,460,162 + $3,239,464 $4,699,626 | $61,111 |
| 2013 | $1,453,563 + $3,224,824 $4,678,387 | $61,166 |
| 2012 | $1,425,062 + $3,161,593 $4,586,655 | $61,987 |
| 2010 | $1,397,120 + $3,099,601 $4,496,721 | $60,813 |
| 2009 | $1,389,974 + $3,083,745 $4,473,719 | $58,628 |
| 2009 | $1,386,679 + $3,076,436 $4,463,115 | $58,628 |
| 2008 | $1,362,720 + $3,023,280 $4,386,000 | $56,214 |
| 2007 | $818,260 + $386,461 $1,204,721 | $17,929 |
$9,499,000
CRMLS
Listed 2024-05-02
$9,500,000
CRMLS
Sold 2007-03-30
$4,300,000
Public Record
Year Built: 1970
Building Features: 4
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: street
Property Age: 54
Property Attached: Yes
Building Total Stories: 2
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.