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$1,945,000
Est. payment /mo
6 Beds
4 Baths
0.31 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25098155
Bedrooms 6
HOA Y/N No
Lot Size 0.310 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
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 and stucco, 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
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 and stucco, 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 turnkey, low-maintenance asset that balances current performance with future upside. Whether youre seeking steady cash flow, value-add opportunity, or a long-term hold in a dynamic submarket, this investment checks all the boxes.
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 and stucco, 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 turnkey, low-maintenance asset that balances current performance with future upside. Whether youre seeking steady cash flow, value-add opportunity, or a long-term hold in a dynamic submarket, this investment checks all the boxes.
Location
State CA
County Los Angeles
Area North Hollywood (91605)
Zoning Public Rec
Building
Story 2
Level or Stories 2 Story
Others
Acceptable Financing Cash, Conventional, Land Contract
Space Rent $2,038
Listing Terms Cash, Conventional, Land Contract
Virtual Tour https://www.youtube.com/watch?v=uHjL5gLxiI8
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Listed by Raymond Rodriguez • Equity Union
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