6945 Hinds Avenue
North Hollywood, CA 91605
8382 sqft | 20 beds | 0.21 acres | #25525687
Description
Constructed in 1963, the property sits on a corner lot and contains mostly two-bedroom units. A new investor may be able to add significant value to the asset as current rents sit well below those of similar neighboring properties. With approximately 62% rent upside, the investment provides a long runway for future income growth. Fortunately for a new investor, the property's expensive seismic retrofit repairs have already been completed (Buyer to verify). The building also features upgraded electrical panels, vinyl windows, and an upgraded roof, helping the owner to save on maintenance, utility, and insurance costs. There is on-site parking for 12 vehicles, while the laundry facilities provide a supplemental income stream for the owner. Located near the intersection of Laurel Canyon Boulevard and Vanowen Street, the property allows tenants convenient access to the 5 and 170 Freeways. The recently constructed NOHO West shopping center sits just one mile from the property, offering a convenient shopping and dining destination for residents. In addition to the Trader Joe's, Nordstrom Rack, LA Fitness, and Regal Cinemas featured in that center, the local neighborhood also includes Costco, Home Depot, and Target.
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- CountyLos Angeles
- Original List Price$2,000,000
- MLS #25525687
- MLS #25525687
- Cost2000000
- Acres0.2067
- Square Feet8382
- Year Built1963
- Bedrooms20
- Stories2
Location
Legal
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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: Roderick 'Rick' Raymundo (#CLW-C126070)
Listing Office: Marcus & Millichap (#CLW-X75151)
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