REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,550,000
Est. payment /mo
Active
7436 Lankershim BLD North Hollywood, CA 91605
0.26 Acres Lot
UPDATED:
10/29/2024 11:08 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRBB24132576
Originating Board California Regional MLS
Year Built 1942
Lot Size 0.259 Acres
Property Description
We are pleased to present a unique chance to acquire a versatile mixed-use commercial property ideally located on renowned Lankershim Blvd, offering both a cash flow generating property, as well as a lucrative Development Opportunity. This property currently features a total of six units, comprising three commercial units and three residential units. The building spans 4,217 square feet and is situated on a generous 11,284 square feet lot. The current 5% CAP Rate is based on existing rental income, with the possibility to enhance returns through additional ADU constructions or explore redevelopment opportunities for a mixed-use project featuring up to 40 units alongside ground-floor retail. Its location is optimal with LAC2 zoning, dual access from the front and back of the lot, and proximity to public transit, ensuring significant pedestrian and vehicular traffic (over 260,000 employees within a 5-mile radius and 27,000 cars daily). This makes it a highly desirable location for development.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Interior
Laundry Other
Exterior
Garage Spaces 6.0
Pool None
Building
Story One Story
Water District - Public
Others
Tax ID 2316014019
Special Listing Condition Not Applicable
© 2024 MLSListings Inc. All rights reserved.
Listed by David Nalbandyan • LA Premier Realty