8 Units, Built in 1955 and 8 Units Built 1959. Recently Achieved Rent Level of $1,498 per Month for a 1 Bedroom Unit (CurrentAverage is $1,073) Tremendous Rent Upside Potential of Over 30%.
Copper Plumbing Throughout. New Exterior Paint in 2015. Interior Upgrades Include New Laminate Flooring and Granite Countertops (*SelectUnits). Open Parking in Front and Rear Totaling 24 Spaces. No Soft Story / Tuck-Under Parking Spaces. Two-Story, Walkup Style Building, Gated with Controlled Access. Laundry Room On-Site Producing Additional Income. Well-Maintained Building and Grounds with Mature Landscaping/ Building is 10,158 Gross Square Feet per LA County Tax Assessor.
The property enjoys proximity to several prime locations including the NOHO ArtsDistrict, Toluca Lake and the City of Burbank. The NOHO Arts district is a communitywithin North Hollywood that is home to contemporary theaters, art galleries, cafes, andvarious shops. This area has also been home to tremendous growth and newdevelopment that has occurred in recent years and continues today. Toluca Lake is justsouth of the NOHO Arts District and is an affluent neighborhood spanning just north andsouth of the 134 freeway along the Cahuenga Boulevard corridor. The City of Burbank is just to the east of the subject property, which is home to several media andentertainment companies that provides employment opportunities to many in the area.