$ 2,200,000
11264 Morrison ST North Hollywood, CA 91601
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$ 2,200,000
Est. payment | /mo
12 Beds
12 Baths
5,802 SqFt
$ 2,200,000
Est. payment | /mo
12 Beds
12 Baths
5,802 SqFt
Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 5,802 sqft
Price per Sqft $379
MLS Listing ID 24445245
Bedrooms 12
HOA Y/N No
Year Built 1987
Lot Size 6,499 Sqft
Acres 0.1492
Property Description
OM is available upon request. Equity Union as the exclusive listing agent is pleased to present the opportunity to acquire 11264 Morrison St., a six (6) unit apartment building built in 1987 and not subject to the Los Angeles Rent Stabilization Ordinance. The building is subject to State of California AB1482, which allows for five % plus CPI annual rent increases. The unit mix consists of all 2bed+2bath units. The property is a three-story (two stories of apartments on top of an above ground parking structure area) 5,802 square foot walk-up building with frame and stucco construction situated on a 6,500 square foot lot. All the units have large open floor plans that provide an investor with the opportunity to complete their own renovation plan and significantly increase rents. Unit features include large master and second bedrooms, large bathrooms, spacious living room areas, separate dining areas adjacent to the kitchens, and significant natural light. Four of the units have updated flooring, kitchens and bathrooms, including the one current vacancy, which is rent-ready condition. Due to the large size of the units, investors may want to explore the possibility of adding washer/dryers in each unit. All units feature individual hot water heaters, central air conditioners, are separately metered for electricity and gas, and the landlord pays for water and trash. Gated access parking is provided onsite with six (6) very large tandem spaces. Onsite laundry is also provided in a room near the parking area. The front yard area has just been updated with a drought-resistant plant and decomposed granite modern landscaping design and the rear of the property has been updated with a modern stone patio that is a perfect gathering area for tenants.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LAR3
Interior
Cooling Central Air
Fireplace No
Exterior
Total Parking Spaces 12
Building
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 2353016045
Special Listing Condition Standard
Listed by Josh Kaplan • Equity Union
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Valerie Condon
Partner | Lic# 680245