We are proud to present Las Casitas — a well-performing, workforce housing investment located at 11966 Runnymede St. in the high-demand rental market of North Hollywood, CA.
Positioned as a core cash-flow asset with remaining value-add upside, Las Casitas offers both immediate income and future growth potential. Priced to move at a compelling ~6.42% Cap Rate, this is a rare opportunity to acquire a strong-performing asset in a quality rental market at an attainable loan-to-value.
The property spans ±7,234 SF of improvements on an expansive ±13,400 SF LARD2-zoned lot, consisting of:
+ A front house built in 1947
+ Two apartment buildings constructed in 1964
Construction is wood frame and stucco exterior, with exterior paint completed in recent months. The front house has had several major upgrades in recent years, including:
+ Newer roof
+ Updated A/C
+ Newer water heater
Most apartment units feature tile flooring for ease of maintenance, and nearly all have newer hot water heaters. The apartment building roof is approximately 10 years old and has been regularly maintained.
Parking &' Layout
The property is well parked, with:
+ A 2-car garage attached to the front home
+ 4 tandem spaces + 3 single spaces = 13 total parking spaces
Unit Mix, Amenities &' Upside Potential
+ 6 (2+1.5) townhome-style units
+ 1 (4+1.5) single-family home
Each apartment unit features its own private, enclosed yard or patio, supporting higher tenant satisfaction and rental premiums. With rents still below market in several units, the property offers room for rental increases through gradual turnover and light interior upgrades.
At the rear of the property are two 10''x12'' storage sheds of high Home Depot quality. One is rented for $150/month' the other will be available, with market rent potential of $250/month or more.
Efficiency &' Cost Control
+ Separately metered for gas and electric (no house meter)
+ Trash service is included in LADWP and billed to tenants
+ Low-maintenance, drought-tolerant landscaping keeps operating costs minimal
Las Casitas is a low-maintenance asset that balances current performance with future upside. Whether you’re seeking steady cash flow, value-add opportunity, or a long-term hold in a dynamic submarket, this investment checks all the boxes.
Positioned as a core cash-flow asset with remaining value-add upside, Las Casitas offers both immediate income and future growth potential. Priced to move at a compelling ~6.42% Cap Rate, this is a rare opportunity to acquire a strong-performing asset in a quality rental market at an attainable loan-to-value.
The property spans ±7,234 SF of improvements on an expansive ±13,400 SF LARD2-zoned lot, consisting of:
+ A front house built in 1947
+ Two apartment buildings constructed in 1964
Construction is wood frame and stucco exterior, with exterior paint completed in recent months. The front house has had several major upgrades in recent years, including:
+ Newer roof
+ Updated A/C
+ Newer water heater
Most apartment units feature tile flooring for ease of maintenance, and nearly all have newer hot water heaters. The apartment building roof is approximately 10 years old and has been regularly maintained.
Parking &' Layout
The property is well parked, with:
+ A 2-car garage attached to the front home
+ 4 tandem spaces + 3 single spaces = 13 total parking spaces
Unit Mix, Amenities &' Upside Potential
+ 6 (2+1.5) townhome-style units
+ 1 (4+1.5) single-family home
Each apartment unit features its own private, enclosed yard or patio, supporting higher tenant satisfaction and rental premiums. With rents still below market in several units, the property offers room for rental increases through gradual turnover and light interior upgrades.
At the rear of the property are two 10''x12'' storage sheds of high Home Depot quality. One is rented for $150/month' the other will be available, with market rent potential of $250/month or more.
Efficiency &' Cost Control
+ Separately metered for gas and electric (no house meter)
+ Trash service is included in LADWP and billed to tenants
+ Low-maintenance, drought-tolerant landscaping keeps operating costs minimal
Las Casitas is a low-maintenance asset that balances current performance with future upside. Whether you’re seeking steady cash flow, value-add opportunity, or a long-term hold in a dynamic submarket, this investment checks all the boxes.
Property Details
Price:
$1,945,000
MLS #:
SR25098155
Status:
Active
Baths:
0
Address:
11966 Runnymede Street
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
nhonorthhollywood
City:
North Hollywood
Listed Date:
May 2, 2025
State:
CA
ZIP:
91605
Lot Size:
13,499 sqft / 0.31 acres (approx)
Year Built:
1947
See this Listing
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Schools
Interior
Heating
Central
Exterior
Community Features
Urban
Garage Spaces
2.00
Lot Features
Lot 6500-9999
Parking Features
Tandem Uncovered
Parking Spots
13.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Map
Community
- Address11966 Runnymede Street North Hollywood CA
- AreaNHO – North Hollywood
- CityNorth Hollywood
- CountyLos Angeles
- Zip Code91605
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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 2025. California Regional Multiple Listing Service. All rights reserved.11966 Runnymede Street
North Hollywood, CA
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