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Listed by Casey Picard • Keller Williams Realty
$1,325,000
Est. payment /mo
4,858 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,858 sqft
Price per Sqft $272
MLS Listing ID P1-28330
Year Built 1956
Lot Size 8,583 Sqft
Source California Regional Multiple Listing Service (CRMLS)
Property Description
6264 Willowcrest Avenue is a well-maintained six-unit apartment complex located on a peaceful, tree-lined street in North Hollywood, adjacent to the city of Burbank. Built in1956, the property offers ±4,858 square feet of rentable space on a ±8,583 square foot lot.With a desirable unit mix of (4) two-bedroom / one-bath units and (2) one-bedroom / one-bath units, the property presents an immediate ±33% rental upside.
In addition to the laundry income, the owner is currently recouping their capital expenditure cost for the seismic retrofit. The annual payment to the current ownership(which will pass to the new ownership) equates to $1,824 annually. The site offers strong long-term development potential, with opportunities to add accessory dwelling units(ADUs) via tuck-under parking conversion or detached construction (buyer to verify).
In addition to the laundry income, the owner is currently recouping their capital expenditure cost for the seismic retrofit. The annual payment to the current ownership(which will pass to the new ownership) equates to $1,824 annually. The site offers strong long-term development potential, with opportunities to add accessory dwelling units(ADUs) via tuck-under parking conversion or detached construction (buyer to verify).
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LARD1.5
Interior
Heating Wall Furnace
Fireplaces Type None
Laundry Community
Exterior
Parking Features Carport
Pool None
Community Features Curbs
View Y/N No
View None
Building
Lot Description Sprinklers None
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900