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6711 Tujunga Avenue

North Hollywood, CA 91606
  • $2,095,000
  • STATUS: ACTIVE
  • ON SITE: 52 Days
  • ID#: SR23187122
UPDATED: 50 min ago
$2,095,000
  • 1
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

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. 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.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
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6711 Tujunga Avenue North Hollywood, CA 91606

  • Price: $2,095,000
  • Status: ACTIVE
  • On Site: 52 Days
  • Updated: 50 min ago
  • ID#: SR23187122
1
Beds
0
Baths
0
½ Baths
0.16
Acres
Neighborhood:
North Hollywood (91606)
County:
Los Angeles
Area:
North Hollywood (91606)
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. 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.
Exterior Features

Parking Garage Desc Unit1 Assigned Pool N/K Topography Level

Interior Features

Stories 1 Story Total Baths Unit1 2 Total Baths Unit2 2

Property Features

Annual Expense Actual 73194 Buildings 2 Cfd Mello Roos Fee 988.0 Cfd Mello Roos Fee Reflects Year Gross Scheduled Income Actual 169483 Home Owners Fees 0.0 Monthly Total Fees 82 Unit Number For Unit1 1 Unit Number For Unit2 2 Unit1 Rent Actual 11354.0 Unit2 Rent Actual 2365.0 Zoning Assessor

San Diego MLS logo Listing provided courtesy of Braemon Hanes of Hanes Investment Rlty: 818-865-8305. Listing information © 2023 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
 
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