OUTSTANDING OPPORTUNITY to own an 8 units multifamily property in the NoHo Arts area. The property has an excellent unit mix consisting of two 3 BD + 2 BA and six 2 BD + 1 BA units with a spacious average unit size of 981 SF. In 2014 the propertyreceived a new roof, copper repiping of the horizontal pipes, and a new water heater. Six units have new windows and seven unitshave had upgrades of varying degree including new bathrooms, new kitchens, and flooring. Buyer to verify extend of upgrades.There is huge potential for rent increase of 30% from the current existing rents to current market rents due to the increases in the market over the past few years. The property is located just one block south of the NoHo Arts District and is SE of the Camarillo & Lankershim Blvd. intersection.The NoHo area has had much redevelopment over the last 10 years which has rejuvenated the community with many newemployment centers, shopping, restaurants and theatre. It is close to the 101 and 134 Freeways.
MAJOR REDUCTION!!! LOT IS R3 BUILDER CAN CONSTRUCT 9 UNITS ON THE LOT. PER CITY OF LOS ANGELES BUILDING & SAFETY- BUYER TO DO THEIR OWN INVESTIGATION ON THIS MATTER. PROPERTY IS BEING SOLD AS IS CONDITION. SELLER WILL NOT PAY FOR RELOCATION OF TENANTS ON EITHER HOUSE. THERE ARE TWO SEPARATE HOUSES ON THE LOT- THE ONE IN FRONT IS A TWO BEDROOM , TWO BATH DWELLING AND REAR UNIT IS A ONE BEDROOM AND ONE ONE BATH. THERE ARE FOUR COVERED PARKING SPACES ON THE PROPERTY. THE PROPERTY IS LOCATED IN ONE OF THE BEST LOCATION IN TOLUCA LAKE FOR A FANTASTIC POTENTIAL FOR A BUILDER- INVESTOR