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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$2,550,000

Est. payment - /mo

0.26 Acres Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID BB24132576

HOA Y/N No

Year Built 1942

Lot Size 0.259 Acres

Property Sub-Type Mixed Use

Property Description

We are pleased to present a unique chance to acquire a versatile mixed-use commercial property ideally located on renowned Lankershim Blvd, offering both a cash flow generating property, as well as a lucrative Development Opportunity. This property currently features a total of six units, comprising three commercial units and three residential units. The building spans 4,217 square feet and is situated on a generous 11,284 square feet lot. The current 5% CAP Rate is based on existing rental income, with the possibility to enhance returns through additional ADU constructions or explore redevelopment opportunities for a mixed-use project featuring up to 40 units alongside ground-floor retail. Its location is optimal with LAC2 zoning, dual access from the front and back of the lot, and proximity to public transit, ensuring significant pedestrian and vehicular traffic (over 260,000 employees within a 5-mile radius and 27,000 cars daily). This makes it a highly desirable location for development.

Location

State CA

County Los Angeles

Area Nho - North Hollywood

Zoning LAC2

Interior

Fireplace No

Laundry Inside

Exterior

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Curbs

Total Parking Spaces 6

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 2316014019

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

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Listed by David Nalbandyan • LA Premier Realty • info@lapremierrealty.com

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7436 Lankershim BLVD North Hollywood, CA 91605