6819 LAUREL CANYON BOULEVARD, NORTH HOLLYWOOD CA 91605
- 17,466 sq.ft.
- 14,555 sq.ft. lot
Property Description
Located in the heart of North Hollywood, 6819 Laurel Canyon Blvd. presents a rare 20-unit investment opportunity with significant rental upside and no local rent control restrictions. Built in 1982, this courtyard-style complex allows for annual rental increases of 5% + CPI (currently 8.9%). Offered at $225,000 per unit and $258 per square foot, the property is priced as a high-potential value-add investment. With 60% rental upside, investors can achieve a stabilized 9.45% CAP rate and a 7.78 GRM, based on market-rate renovated units in the area. The unit mix consists of (16) two-bedroom, two-bath units, (3) one-bedroom units, and (1) studio. Beyond the strong in-place income and rental upside, 6819 Laurel Canyon sits on a large 14,555 SF lot, offering the opportunity to add ADUs for even greater cash flow potential (buyer to verify). The property also features subterranean parking for approx. 37 vehicles, a new roof, and a new water heater, minimizing future capital expenditures. Situated just north of Vanowen St. and 2.5 miles from the NoHo Arts District, the property is positioned in one of the most dynamic and evolving submarkets in LA. North Hollywood has seen an influx of investment, including the transformative 15-acre NoHo Metro Station redevelopment, adding 1,500 new residential units, office space, retail, and hospitality, further elevating the area's desirability and rental demand.
Listing Courtesy of Kenny Stevens, Compass
Interior Features
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