6819 Laurel Canyon Boulevard
North Hollywood, CA 91605
17466 sqft | 35 beds | 0.33 acres | #25506299
Description
Located in the heart of North Hollywood, 6819 Laurel Canyon Blvd. presents a rare 20-unit investment opportunity with significant rental upside and no local rent control restrictions. Built in 1982, this courtyard-style complex allows for annual rental increases of 5% + CPI (currently 8.9%). Offered at $225,000 per unit and $258 per square foot, the property is priced as a high-potential value-add investment. With 60% rental upside, investors can achieve a stabilized 9.45% CAP rate and a 7.78 GRM, based on market-rate renovated units in the area. The unit mix consists of (16) two-bedroom, two-bath units, (3) one-bedroom units, and (1) studio. Beyond the strong in-place income and rental upside, 6819 Laurel Canyon sits on a large 14,555 SF lot, offering the opportunity to add ADUs for even greater cash flow potential (buyer to verify). The property also features subterranean parking for approx. 37 vehicles, a new roof, and a new water heater, minimizing future capital expenditures. Situated just north of Vanowen St. and 2.5 miles from the NoHo Arts District, the property is positioned in one of the most dynamic and evolving submarkets in LA. North Hollywood has seen an influx of investment, including the transformative 15-acre NoHo Metro Station redevelopment, adding 1,500 new residential units, office space, retail, and hospitality, further elevating the area's desirability and rental demand.
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- CountyLos Angeles
- Original List Price$4,500,000
- MLS #25506299
- MLS #25506299
- Cost4500000
- Acres0.3341
- Square Feet17466
- Year Built1982
- Bedrooms35
- Stories2
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. 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
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Kenny Stevens (#CLW-X90606)
Listing Office: Compass (#CLW-X81461)
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