Property Detail

Description

Situated on a 6,546 square foot lot, the building contains two one-bedroom units and one two-bedroom unit, spanning a total of 1,850 square feet. The property is not on the Los Angeles Department of Building and Safety's seismic retrofit list (Buyer to verify), saving a new investor from otherwise costly repairs. Being listed for sale along with the adjacent property at 6726 Beck Avenue could allow an investor to control two parcels that span block-to-block and cover approximately 13,297 square feet of land. Both parcels are situated within a Tier 1 TOC zone, and a new owner may be able to boost revenue substantially by adding ADUs to the lot. The property features full copper plumbing and the owner has maintained the property well, including the installation of a brand new roof in 2021. New window screens, exterior lighting, and security cameras were added recently as well. The on-site laundry facilities offer a supplemental income stream to a new investor. With its solid pipeline of recent and upcoming development projects, North Hollywood has benefited from a strong influx of capital. The new NoHo West mixed-use development features a Trader Joe's, Nordstrom Rack, Regal Cinema, LA Fitness, and several other shops and restaurants as its accompanying 644-unit multifamily development moves forward through construction. A proposed $1 billion mixed-use campus, dubbed District NoHo and featuring approximately 22 million square feet of retail, restaurant, office, and residential space could come online just south of the property.