$ 8,400,000
-
$8,400,000
Price -
1
Bed -
2
Bath -
24,098
SqFt
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About the Listing CLW-X71068 - CLW-C121229
*Intrinsic Value* - A rare opportunity to add 18 ADUs (10 attached, 8 detached) without sacrificing any existing parking, bringing the total unit count to 58--significantly enhancing income potential. *9.24% Intrinsic Value Cap Rate* - Reflects the property's full cash flow potential after optimizing all income streams, including the build-out of ADUs and associated construction costs. *ADU Upside Potential* - Upon execution of the ADU development plan, projected metrics include a 7.84% cap rate, 8.62 GRM, and a 20.23% average annual return over five years post-construction. *Current Financial Metrics* - Priced at just $210K per unit, the property currently delivers a 5.39% cap rate and 11.13 GRM, with 41% upside potential, excluding the value-add from proposed ADUs. *Recent Upgrades* - Copper plumbing (2004), new roof (2015), new electrical subpanels (2024), upgraded water heater system (2023). *Location Benefits* - Situated in the prime NoHo Arts District submarket, less than one mile from the North Hollywood Metro Station (Red Line and G Line). Minutes from Universal Studios, the Burbank Media District, and major employers. The area is experiencing sustained growth driven by transit-oriented development, studio expansions, and new mixed-use projects. *Tenant Appeal* - Residents enjoy a walkable lifestyle near the NoHo Arts District's restaurants, coffee shops, studios, and nightlife. With the Metro less than a mile away, the property is highly attractive to young professionals, creatives, and studio employees seeking convenience without the premium pricing of Hollywood. *Walk Score* - Very walkable with a Walk Score of 79. Tenants can live, work, and socialize with minimal reliance on a car.NOTE: This Information is conceptual only. Buyers are advised to conduct a thorough investigation and consult with professionals as to the feasibility of adding ADUs.
Listing Highlights
Status
Active
Days on Site
9
Property Type
Multi-Family
MLS ®
26668899
Year Built
1965
Total Square Footage
24,098
Lot/Acreage
0.53
County
Los Angeles
Interior Details
- Bedrooms: 1
- Bathrooms: 2 Full
- Appliances: Dryer, Washer
- Air Cond: Wall/Window Unit(s)
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: LAR3
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Detached Carport
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 2353017011
- Tax Year: N/A
Payment Calculator
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Questions About..
11175 Huston St North Hollywood, CA 91601
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