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    10800 Hesby St

    North Hollywood, CA 91601
    • $3,350,000
    • STATUS: Active Under Contract
    • ON SITE: 38 days
    • ID#: 21-732712
    Under Contract
    UPDATED: 100 min ago
    $3,350,000
    • 19
      BEDS
    • 0.25
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,552
      SQFT
    • $351
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    We are proud to present a great multifamily asset in the very strong rental market, The Noho Arts district. The property is situated on the corner of Hesby and Riverton.Built in 1963, this 10-Unit, 9,552 square foot property sits on a large 10,799 square foot lot (0.25 acres), and it has a great unit mix of (2) 1-Bed / 1-Bath units, (7) 2-Bed / 1.5-Bath and (1) 3-Bed / 1.5-Bath units, most of them being town home style. The property has been well maintained by the previous owner as well as the current owner. It also has secured entry, covered parking, central air and heat, and the Seller has already completed the mandatory seismic retrofitting in March 2021. The savvy investor who purchases this opportunity will have huge upside potential since only 3 of the 10 units have been turned since the current owner purchased the property in 2016, leaving the next buyer over 60% upside in rents that can be realized by bringing the 7 low paying tenants up to market rate.*note: The information in the marketing package is for September 2021 because the seller has a prepayment penalty that will end at that time, and the Seller would prefer to wait until September for the close of escrow. Furthermore, the financial information includes 4% rent increases to all tenants since we assume by that time the 4% annual rent increases will be allowed once again.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-23T23:42:43.657. 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.
    www.sellbuyla.com/homes/117282316
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    10800 Hesby St North Hollywood, CA 91601

    • Price: $3,350,000
    • Status: Active Under Contract
    • Updated: 100 min ago
    • ID#: 21-732712
    19
    Beds
    0
    Baths
    0
    ½ Baths
    0.25
    Acres
    9,552
    SQFT
    $351
    $/SQFT
    1963
    Built
    Neighborhood:
    North Hollywood
    County:
    Los Angeles
    Area:
    North Hollywood
    Property Description
    We are proud to present a great multifamily asset in the very strong rental market, The Noho Arts district. The property is situated on the corner of Hesby and Riverton.Built in 1963, this 10-Unit, 9,552 square foot property sits on a large 10,799 square foot lot (0.25 acres), and it has a great unit mix of (2) 1-Bed / 1-Bath units, (7) 2-Bed / 1.5-Bath and (1) 3-Bed / 1.5-Bath units, most of them being town home style. The property has been well maintained by the previous owner as well as the current owner. It also has secured entry, covered parking, central air and heat, and the Seller has already completed the mandatory seismic retrofitting in March 2021. The savvy investor who purchases this opportunity will have huge upside potential since only 3 of the 10 units have been turned since the current owner purchased the property in 2016, leaving the next buyer over 60% upside in rents that can be realized by bringing the 7 low paying tenants up to market rate.*note: The information in the marketing package is for September 2021 because the seller has a prepayment penalty that will end at that time, and the Seller would prefer to wait until September for the close of escrow. Furthermore, the financial information includes 4% rent increases to all tenants since we assume by that time the 4% annual rent increases will be allowed once again.
    Exterior Features

    Lot Size Area 10799 Other Structures Other Parking Garage CarportCarport Attached Total Parking 0

    Interior Features

    Baths Total 14.00 Cooling Other Equipment Other Heating Other

    Property Features

    Assessed Total Value 2546899 Gross Income 192468 Gross Operating Income 186694 Like Units1 2 Like Units2 7 Like Units3 1 Net Operating Income 106252.00 Number Of Buildings 1 Number Of Units 10 Rent Control YN Yes Sale Type Standard Security Features Other Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 81270 Type Of Units Other Year Built Source Vendor Enhanced Zoning Lard1.5

    Listing provided courtesy of Filip Niculete DRE#01905352 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-23T23:42:43.657. 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.
     
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    Keller Williams Realty
    12130 Millennium Dr
    Playa Vista CA, 90094