11744 Runnymede Street, North Hollywood
North Hollywood Home For Sale
Runnymede Holiday Apartments presents opportunity to acquire a desirable garden style 40 unit complex consisting of open grounds and attractive low-maintenance construction consisting of an ideal (12) 1 bedroom / 1 bath units, (20) 2 Bedroom / 1 bath units, and (8) 3 bedroom / 2 bath units. The property does not possesses any decks, tuck-under parking, or exterior catwalks, thereby removing large capital expenditure items for long-term operations. The grounds consist of mature vegetation, open walkways, a picnic and playground area, a large onsite laundry facility, and fully gated grounds and parking. The property possesses significant income and equity growth potential with an in-place 4.45% cap rate and a 8.5% proforma cap rate on a proven loss to lease rent roll. Select units are renovated with proven renovated proforma rents. Runnymede Holiday Apartments is well located in the vibrant neighborhood of North Hollywood. Known for its artistic flair, diverse community, and convenient access to urban amenities, North Hollywood offers an enticing blend of entertainment, culture, and lifestyle opportunities. The property is located with quick access to Highway 170, The Burbank Airport, Iconic Noho Arts District, and various retail shops/centers in the immediate surrounding area. On a granular basis, the asset parcel is well located between a beautiful nursery and low density multifamily complex within 0.1 Miles of two new construction institutional grade Multifamily complexes showcasing a bullish microeconomic drive in the immediate pocket.
Property Details
Additional Information
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- City:
- North Hollywood
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- County:
- Los Angeles
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- Zip:
- 91605
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- MLS® #:
- PTP2402516
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- Bedrooms:
- 6
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- Bathrooms:
- 4
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- Lot Size:
- 1.37
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- HOA Dues:
- $
Price Change History for 11744 Runnymede Street, North Hollywood, (MLS® #PTP2402516)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Reduced (from $9,500,000) | $9,499,000 | $1,000 (0.01%) |
Based on information from California Regional Multiple Listing Service, Inc. as of July 5th, 2024 at 2:15am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.