North Hollywood, CA 91601 11264 Morrison Street
$2,200,000
7 more
Presented By: Josh Kaplan with Equity Union;
Home Details
OM is available upon request. Equity Union as the exclusive listing agent is pleased to present the opportunity to acquire 11264 Morrison St., a six (6) unit apartment building built in 1987 and not subject to the Los Angeles Rent Stabilization Ordinance. The building is subject to State of California AB1482, which allows for five % plus CPI annual rent increases. The unit mix consists of all 2bed+2bath units. The property is a three-story (two stories of apartments on top of an above ground parking structure area) 5,802 square foot walk-up building with frame and stucco construction situated on a 6,500 square foot lot. All the units have large open floor plans that provide an investor with the opportunity to complete their own renovation plan and significantly increase rents. Unit features include large master and second bedrooms, large bathrooms, spacious living room areas, separate dining areas adjacent to the kitchens, and significant natural light. Four of the units have updated flooring, kitchens and bathrooms, including the one current vacancy, which is rent-ready condition. Due to the large size of the units, investors may want to explore the possibility of adding washer/dryers in each unit. All units feature individual hot water heaters, central air conditioners, are separately metered for electricity and gas, and the landlord pays for water and trash. Gated access parking is provided onsite with six (6) very large tandem spaces. Onsite laundry is also provided in a room near the parking area. The front yard area has just been updated with a drought-resistant plant and decomposed granite modern landscaping design and the rear of the property has been updated with a modern stone patio that is a perfect gathering area for tenants.
Presented By: Josh Kaplan with Equity Union;
Interior Features for 11264 Morrison Street
Bedrooms
Total Bedrooms12
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths12
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Total Stories3
General for 11264 Morrison Street
Additional Parcels Y/NNo
Attached Garage No
Cap Rate4.54
Carport Y/NNo
CityNorth Hollywood
CoolingCentralAir
CountyLos Angeles
Days on Market1
DirectionsLocated between Tujunga Ave. and Lankershim Blvd, in the heart of the best part of North Hollywood just north of the 101 Freeway.
Full Baths
Garage Y/NNo
Gross Income159859.0
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsMultiSplit
Lot Size Square Feet6500.0
Lot Size UnitsSquareFeet
MLS AreaNHO - North Hollywood
MobileHomeRemainsYNNo
Net Operating Income99985.0
New ConstructionNo
NumberOfUnitsTotal6
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
View Y/NNo
Waterfront Y/NNo
Year Built1987
ZoningLAR3
Exterior for 11264 Morrison Street
Building Area Total5802.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1492
Lot Size Area6500.0
Lot Size SourceAssessor
Number of Buildings1
Open Parking Y/NNo
SpaNo
Total Parking12.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480