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$2,550,000
Est. payment /mo
0.26 Acres Lot
UPDATED:
12/05/2024 05:06 AM
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID BB24132576
HOA Y/N No
Year Built 1942
Lot Size 0.259 Acres
Property Description
We are pleased to present a unique chance to acquire a versatile mixed-use commercial property ideally located on renowned Lankershim Blvd, offering both a cash flow generating property, as well as a lucrative Development Opportunity. This property currently features a total of six units, comprising three commercial units and three residential units. The building spans 4,217 square feet and is situated on a generous 11,284 square feet lot. The current 5% CAP Rate is based on existing rental income, with the possibility to enhance returns through additional ADU constructions or explore redevelopment opportunities for a mixed-use project featuring up to 40 units alongside ground-floor retail. Its location is optimal with LAC2 zoning, dual access from the front and back of the lot, and proximity to public transit, ensuring significant pedestrian and vehicular traffic (over 260,000 employees within a 5-mile radius and 27,000 cars daily). This makes it a highly desirable location for development.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LAC2
Interior
Fireplace No
Laundry Inside
Exterior
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Curbs
Total Parking Spaces 6
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 2316014019
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
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Listed by David Nalbandyan • LA Premier Realty • info@lapremierrealty.com
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