Listing by: Michael R. Fukushima, Keller Williams Downtown LA
0 Beds
n/a Full bath
n/a SqFt
Active
The development will be delivered 76 units RTI fully entitled, 66 1's, 6 studios, 1 Bed ADU and 3 single ADUs, with 4 story stack construction and is located in an opportunity zone. Most recently LADWP has approved service. The permit fees will be paid by the Buyer. The property is entitled with no parking. There are no off site requirements, no school fees (save $200,000), no linkages, and no relocation fees. Due diligence includes, Blueprints and plans, HACLA guidance, GC bids, Soils reports, Developers Proforma analysis, Brokers Development analysis, Methane report, Letter of Determination, Preliminary Zoning Assessment from City with approval for 76 units, and the Prelim. Understanding the orientation of the land is critical as the overhead power lines run away from the development site and there are fully occupied apartments nearby which are much closer to these overhead lines. The total yearly forecasted rent is $2.05 mil per yr. on an estimated projected cost basis of $15 mil including the land and entitlement and hard and soft construction costs.
Property Details | ||
---|---|---|
Price | $3,950,000 | |
Lot Size Area | 15048 | |
Lot Size Area Units | Square Feet | |
Acres | 0.3455 | |
Property Type | Land | |
View | None | |
Geographic Data | ||
Directions | Property is near the intersection of Laurel Canyon Blvd and Runnymede St. Property is easily accessible by the 170 highway. Use Google Maps for specific directions. | |
County | Los Angeles | |
Latitude | 34.206136 | |
Longitude | -118.395704 | |
Market Area | NHO - North Hollywood | |
Address Information | ||
Address | 12035 Runnymede Street, North Hollywood, CA 91605 | |
Postal Code | 91605 | |
City | North Hollywood | |
State | CA | |
Country | United States | |
Listing Information | ||
Listing Office | Keller Williams Downtown LA | |
Listing Agent | Michael R. Fukushima | |
Buyer Agency Compensation | 1.500 | |
Buyer Agency Compensation Type | % | |
Compensation Disclaimer | The offer of compensation is made only to participants of the MLS where the listing is filed. | |
Special listing conditions | Standard | |
MLS Information | ||
Days on market | 2 | |
MLS Status | Active | |
Listing Date | Apr 2, 2024 | |
Listing Last Modified | Apr 24, 2024 | |
Tax ID | 2317013004 | |
MLS Area | NHO - North Hollywood | |
MLS # | 24375373 |
This information is believed to be accurate, but without any warranty.