21
See all 21 photos
$8,749,999
Est. payment /mo
1 Sqft Lot
Contingent
11744 Runnymede ST North Hollywood, CA 91065
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UPDATED:
11/13/2024 12:41 AM
Key Details
Property Type Commercial
Listing Status Contingent
Purchase Type For Sale
MLS Listing ID CRPTP2405347
Originating Board California Regional MLS
Year Built 1970
Lot Size 1 Sqft
Property Description
Runnymede Holiday Apartments presents opportunity to acquire a desirable garden style 40-unit complex consisting of open, low-density grounds and attractive low-maintenance construction consisting of an ideal (12) 1 bedroom / 1 bath units at 650 sqft, (20) 2 Bedroom / 1 bath units at 950 sqft, and (8) 3 bedroom / 2 bath units at 1200 sqft. The property does not possess any decks, tuck-under parking, or exterior catwalks, thereby removing large capital expenditure items for long-term operations. Current GSI: $791,876 Full Market GSI: $1,257,990 In-place NOI: $482,331 Proforma NOI: $870,257 The grounds consist of mature vegetation, open walkways, a picnic and playground area, a large onsite laundry facility, and fully gated grounds and parking. Vegetation within the complex consists of mature roses, eucalyptus trees, succulents, and Hibiscus trees, providing a pleasant atmosphere for tenants to help boost the ultimate rent potential and reduce turnover. Renovations: Roughly 18-20 units are partially renovated including: new flooring, refinished cabinets & hardware, new countertops, new appliances, new bathroom shower tub enclosures and paint throughout. 3-4 units at the property are fully renovated, which includes all items of the partially renovated units plus new shaker cabi
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Interior
Laundry Laundry Area
Exterior
Pool None
Others
Tax ID 2317017020
Special Listing Condition Not Applicable , Accepting Backups
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Listed by Maxwell Brown • Commercial Asset Advisors