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Listed by Tony Diaz, DRE #01742080 • Smart Equity Realty Inc
$ 1,299,999
Est. payment /mo
Active
6944 Radford North Hollywood, CA 91605
9,003 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSR26162076
Year Built 1949
Lot Size 9,003 Sqft
Property Sub-Type Fourplex
Source California Regional MLS
Property Description
Attention investors, builders, and developers! Four-plex rare opportunity on a corner lot 9,000 Sqft. Zoning LARD3-1, with an incredible opportunity to build up to 18 units, or you can choose to build 4 ADUs. Currently, there are a total of 4 units, each offering 1 bed and 1 bath. Each unit has an electrical and gas meter. Tenants are on a month-to-month lease. Per seller, there are two two-car garages, one rented at $500 a month, plus an extra monthly income for parking, tenants are not entitled to parking. With in-place rents below projected market levels, the asset offers immediate and long-term upside through rent growth, improved operations, and strategic repositioning. The property's most compelling value-add is in the zoning and the large corner lot, providing you a huge opportunity to construct an additional four ADUs or start building a new 14,400 Sqft. complex with 18 units and 36 bedrooms! Just minutes from the Bob Burbank Airport, Hollywood, Universal Studios, and the newly built NOHO West Shopping Plaza; is one of the area's latest developments where you can find the Regal movie theatre, Trader Joe's, Starbucks, restaurants, boutiques, etc. Per Zimas.lacity.org, the property is an "Eligible Site ED 1" and may be applied to a shelter or 100% Affordable Housing Project
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Interior
Heating Central Forced Air
Cooling Central AC
Flooring Laminate
Laundry In Laundry Room
Exterior
Parking Features Garage, Other
Garage Spaces 10.0
Pool 31, None
Roof Type Metal,Shingle
Building
Story One Story
Water District - Public
Others
Tax ID 2321014001
Special Listing Condition Not Applicable
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