10657 Moorpark Street, North Hollywood, CA 91602

$1,895,000
List Price
$1,895,000
Days on Market
22
Status
ACTIVE
MLS#
SR20264747
Lot Size (Acres)
0.2089

Property Description

PRICE REDUCED! A great opportunity to build and hold. The projected proforma cash on cash will be 8.2% and projected sales price will be 7.4m in the 5th year. We are pleased to present the opportunity to acquire a ready-to-issue ("RTI") development for a modern 15 unit building in prime Toluca Lake. The building is designed with on-grade parking and 3 floors of five units each (mirrored floorplans) for quick and easy construction. The project’s building plans have received all LADBS approvals and clearances, so it is benefitted by a ready-to-issue building permit to allow for construction to commence on the day after close of escrow. The building consists of (13) one bedroom/one bathroom market rate units (no rent control!) and (2) two bedroom/one bathroom income restricted units. The units range from 579 SF - 867 SF, with an average of 709 SF. The building will be built on an already pancake flat 9,100 SF infill lot. The building is designed with luxury amenities: ±1,600 SF of private rooftop deck, views, balconies, bicycle storage, controlled access, elevator, security system, washer/dryer, and 15 parking spaces. The property is located near new retail & residential development projects and within proximity to major transportation hubs. Centrally located to major L.A entertainment centers, employment and transportation hubs. Buyer to independently verify the accuracy of all information through personal inspection & with appropriate professionals.

Additional Information

Area
Nho - North Hollywood
Taxes
$1,431
Community Features
Sidewalks
Lot Description
Rectangular Lot
View
Neighborhood

Mortgage Calculator

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Courtesy of Keller Williams Encino-Sherman Oaks, Anie Mayelian - Agent DRE# 00778825

Based on information from CRISNet MLS as of . All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.