11744 Runnymede Street

North Hollywood, CA 91605

$9,500,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $260 / sqft

1970

calendar_month Built

Property Description

Runnymede Holiday Apartments presents opportunity to acquire a desirable garden style 40 unit complex consisting of open grounds and attractive low-maintenance construction consisting of an ideal (12) 1 bedroom / 1 bath units, (20) 2 Bedroom / 1 bath units, and (8) 3 bedroom / 2 bath units. The property does not possesses any decks, tuck-under parking, or exterior catwalks, thereby removing large capital expenditure items for long-term operations. The grounds consist of mature vegetation, open walkways, a picnic and playground area, a large onsite laundry facility, and fully gated grounds and parking. The property possesses significant income and equity growth potential with an in-place 4.45% cap rate and a 8.5% proforma cap rate on a proven loss to lease rent roll. Select units are renovated with proven renovated proforma rents. Runnymede Holiday Apartments is well located in the vibrant neighborhood of North Hollywood. Known for its artistic flair, diverse community, and convenient access to urban amenities, North Hollywood offers an enticing blend of entertainment, culture, and lifestyle opportunities. The property is located with quick access to Highway 170, The Burbank Airport, Iconic Noho Arts District, and various retail shops/centers in the immediate surrounding area. On a granular basis, the asset parcel is well located between a beautiful nursery and low density multifamily complex within 0.1 Miles of two new construction institutional grade Multifamily complexes showcasing a bullish microeconomic drive in the immediate pocket.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Interior Information

Listing Information

Address 11744 Runnymede Street
City North Hollywood
State CA
Zip 91605
County Los Angeles
Listing Agent Maxwell Brown DRE#02127395
Courtesy Of Commercial Asset Advisors
MLS PTP2402516
List Price $9,500,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 59,677
Year Built 1970
DOM 6

Exterior Information

Maps

Listing information courtesy of: Maxwell Brown, Commercial Asset Advisors . *Based on information from the Association of REALTORS/Multiple Listing as of May 7th, 2024 at 2:25 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.