OM is available upon request. Equity Union as the exclusive listing agent is pleased to present the opportunity to acquire 11264 Morrison St., a six (6) unit apartment building built in 1987 and not subject to the Los Angeles Rent Stabilization Ordinance. The building is subject to State of California AB1482, which allows for five % plus CPI annual rent increases. The unit mix consists of all 2bed+2bath units. The property is a three-story (two stories of apartments on top of an above ground parking structure area) 5,802 square foot walk-up building with frame and stucco construction situated on a 6,500 square foot lot. All the units have large open floor plans that provide an investor with the opportunity to complete their own renovation plan and significantly increase rents. Unit features include large master and second bedrooms, large bathrooms, spacious living room areas, separate dining areas adjacent to the kitchens, and significant natural light. Four of the units have updated flooring, kitchens and bathrooms, including the one current vacancy, which is rent-ready condition. Due to the large size of the units, investors may want to explore the possibility of adding washer/dryers in each unit. All units feature individual hot water heaters, central air conditioners, are separately metered for electricity and gas, and the landlord pays for water and trash. Gated access parking is provided onsite with six (6) very large tandem spaces. Onsite laundry is also provided in a room near the parking area. The front yard area has just been updated with a drought-resistant plant and decomposed granite modern landscaping design and the rear of the property has been updated with a modern stone patio that is a perfect gathering area for tenants.
Property Details
Price:
$2,200,000
MLS #:
24445245
Status:
Active
Baths:
0
Address:
11264 Morrison Street
Type:
Residential Income
Neighborhood:
nhonorthhollywood
City:
North Hollywood
Listed Date:
Sep 25, 2024
State:
CA
ZIP:
91601
Lot Size:
6,500 sqft / 0.15 acres (approx)
Year Built:
1987
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Schools
Interior
Cooling
Central Air
Exterior
Parking Spots
12.00
Stories Total
3
Financial
Map
Community
- Address11264 Morrison Street North Hollywood CA
- AreaNHO – North Hollywood
- CityNorth Hollywood
- CountyLos Angeles
- Zip Code91601
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Courtesy of Equity Union. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
11264 Morrison Street
North Hollywood, CA
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