$8750000 Price Analysis   ♡   North Hollywood, CA 91605 76 bed 48 bath 36408 SqFt ($240/SqFt) 1.37 acre lot. Built 1970 Listed 2024-05-02, Taxes $68580 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Runnymede Holiday Apartments presents opportunity to acquire a desirable garden style 40-unit complex consisting of open
Low-density grounds and attractive low-maintenance construction consisting of an ideal (12) 1 bedroom / 1 bath units at 650 sqft, (20) 2 Bedroom / 1 bath units at 950 sqft and (8) 3 bedroom / 2 bath units at 1200 sqft. The property does not possess 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. Vegetation within the complex consists of mature roses, eucalyptus trees, succulents and Hibiscus trees, providing a pleasant atmosphere for tenants to help boost the ultimate rent potential and reduce turnover.
Renovations: Roughly 18-20 units are partially renovated including: new flooring, refinished cbinets and hardware, new countertops, new appliances, new bathroom shower tub enclosures and paint throughout. 3-4 units at the property are fully renovated, which includes all items of the partially renovated units plus new shaker cabinets and new bathroom vanity(s). Ownership has been able to achieve rents north of $2, 000 for the 1 bedrooms and north of $2570+ for the 2 bedrooms. Current GSI: $791, 876. GSI with all 13 Section 8 tenants at full voucher allowances: $1, 025, 134. Full Market GSI: $1, 257, 990. On a granular location basis, the asset parcel is well located between a pleasing nursery and low-density multifamily 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: 4.89
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 | $1686714 + $3742092 $5428806 | $68580 |
| 2021 | $1653642 + $3668718 $5322360 | $67581 |
| 2020 | $1636686 + $3631100 $5267786 | $68219 |
| 2019 | $1604595 + $3559902 $5164497 | $65644 |
| 2018 | $1573133 + $3490100 $5063233 | $64693 |
| 2017 | $1542288 + $3421667 $4963955 | $63300 |
| 2016 | $1512048 + $3354576 $4866624 | $61535 |
| 2015 | $1489336 + $3304188 $4793524 | $60672 |
| 2014 | $1460162 + $3239464 $4699626 | $61111 |
| 2013 | $1453563 + $3224824 $4678387 | $61166 |
| 2012 | $1425062 + $3161593 $4586655 | $61987 |
| 2010 | $1397120 + $3099601 $4496721 | $60813 |
| 2009 | $1389974 + $3083745 $4473719 | $58628 |
| 2009 | $1386679 + $3076436 $4463115 | $58628 |
| 2008 | $1362720 + $3023280 $4386000 | $56214 |
| 2007 | $818260 + $386461 $1204721 | $17929 |
$8750000
CRMLS
Price Changed 2024-07-02
$9499000
CRMLS
Listed 2024-05-02
$9500000
CRMLS
Sold 2007-03-30
$4300000
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.