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$ 2,095,000
Est. payment | /mo
0.31 Acres Lot
$ 2,095,000
Est. payment | /mo
0.31 Acres Lot
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR24056706
HOA Y/N No
Year Built 1953
Lot Size 0.312 Acres
Property Description
The Tujunga property currently consists of thirteen multifamily units with two, one bedroom one bath units and eleven singles
individually metered for electric. The property is professionally maintained and the square footage of the combined, individual parcels gives the property an excellent potential for redevelopment. The rent survey conducted for this property indicates significant upside upon the relaxation of Covid restrictions by both the City and County of Los Angeles. Rents have not been increased for some time and the rent increase freeze may be lifted early2024. With upgrades, Tujunga Apartments could achieve rent levels commensurate with those properties surveyed. It is also important to note that the comparables chosen are low to mid-range at the time of publication and, depending on the improvements contemplated by the investor, actual rent targets could be higher.
individually metered for electric. The property is professionally maintained and the square footage of the combined, individual parcels gives the property an excellent potential for redevelopment. The rent survey conducted for this property indicates significant upside upon the relaxation of Covid restrictions by both the City and County of Los Angeles. Rents have not been increased for some time and the rent increase freeze may be lifted early2024. With upgrades, Tujunga Apartments could achieve rent levels commensurate with those properties surveyed. It is also important to note that the comparables chosen are low to mid-range at the time of publication and, depending on the improvements contemplated by the investor, actual rent targets could be higher.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LARD1.5
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Assigned, Asphalt
Pool None
Community Features Valley
Total Parking Spaces 17
Private Pool No
Building
Lot Description Street Level
Story 1
Entry Level One
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 2320019016
Energy Description 2736.0
Acceptable Financing Cash to Existing Loan
Listing Terms Cash to Existing Loan
Special Listing Condition Standard
Listed by Braemon Hanes • Hanes Investment Rlty • braemon@hanesre.com
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Justin & Jessica Bouzane
Broker Associate | Lic# 01905244