We are in a very constrained market for multifamily properties. Highly constrained, some might say.
This is really due to the current state of the apartment space. Here in Los Angeles, we've experienced an unprecedented rise in rental prices.
The current cycle for apartment buildings has matured, which will draw a lot of owners into the realm of wanting to sell their properties as part of a viable strategy in their own investment portfolios.
Areas in and around the valley have seen strong demand over the past couple of years as more and more renters move into the neighborhoods. The infrastructure for public transportation in and around Los Angeles has allowed for growth in areas and the demand for housing that follows it.
So it is with great pleasure that I bring to you a fantastic non rent controlled apartment building for sale in North Hollywood. This 2-story building is well maintained and has 12 parking spaces. Each unit consists of 1 bedroom and 1 bathroom. The front landscaping is well manicured and each unit has heating and air conditioning, along with on-site laundry.
Neighboring this property is a 12-unit small lot development project set to break ground in the following months. Just a couple of lots to the south on the corner, another 14-unit development project will begin construction.
Multifamily inventory is getting harder to come by in today's market, and this deal presents a great opportunity to enter the multifamily space, or add to your current portfolio. Just minutes away from the bustling NoHo Arts District, numerous development projects and much more. Great metrics for someone who wants a value-add deal and not deal with the headache of rent control.
Listed at $1,275,000 with a full marketing package that can be provided to any interested parties.