11264 Morrison ST Pending

North Hollywood,CA 91601

$ 2200000

12 Beds

12 Baths

5802 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

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