CA > North Hollywood
North Hollywood, CA 91065,11744 Runnymede ST
North Hollywood, CA 91065,11744 Runnymede ST
North Hollywood, CA 91065,11744 Runnymede ST
Additional details
Paul Ward

Paul Ward

+1(805) 479-5004
$8,749,999
Est. payment /mo
1.37 Acres Lot
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UPDATED:

12/05/2024 02:17 AM

Key Details

Property Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID PTP2405347

HOA Y/N No

Year Built 1970

Lot Size 1.370 Acres

Property Description

Runnymede Holiday Apartments presents opportunity to acquire a desirable garden style 40-unit complex consisting of open, low-density grounds and attractive low-maintenance construction consisting of an ideal (12) 1 bedroom / 1 bath units at 650 sqft, (20) 2 Bedroom / 1 bath units at 950 sqft, and (8) 3 bedroom / 2 bath units at 1200 sqft. The property does not possess any decks, tuck-under parking, or exterior catwalks, thereby removing large capital expenditure items for long-term operations. Current GSI: $791,876 Full Market GSI: $1,257,990 In-place NOI: $482,331 Proforma NOI: $870,257 The grounds consist of mature vegetation, open walkways, a picnic and playground area, a large onsite laundry facility, and fully gated grounds and parking. Vegetation within the complex consists of mature roses, eucalyptus trees, succulents, and Hibiscus trees, providing a pleasant atmosphere for tenants to help boost the ultimate rent potential and reduce turnover. Renovations: Roughly 18-20 units are partially renovated including: new flooring, refinished cabinets & hardware, new countertops, new appliances, new bathroom shower tub enclosures and paint throughout. 3-4 units at the property are fully renovated, which includes all items of the partially renovated units plus new shaker cabinets and new bathroom vanity(s). Ownership has been able to achieve rents north of $2,000 for the 1 bedrooms and north of $2570+ for the 2 bedrooms. On a granular location 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

Location

State CA

County Los Angeles

Area Nho - North Hollywood

Zoning Multifamily

Interior

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Curbs

View Y/N No

Private Pool No

Building

Lot Description 36-40 Units/Acre

Story 2

Sewer Public Sewer

Others

Senior Community No

Tax ID 2317017020

Energy Description 16265.0

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Maxwell Brown • Commercial Asset Advisors • mbrown@caacre.com

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Paul Ward

+1(805) 479-5004

Broker Associate | License ID: 01354001

Broker Associate License ID: 01354001

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