11344 Oxnard Street

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Address: 11344 Oxnard St, North Hollywood, CA 91606, USA, Los Angeles, California, US
Created date: March 20, 2024
Date last updated: April 8, 2024
Built in 1927 | Recent Upgrades
Strong Value Add Potential
Nearly 50% Upside in Rents
Can Convert Garages to ADU
Front Duplex: 1 Bed & 2 Bed Unit
Back House: 2 bed / 2 Bath
Ample On-Site Parking
Low Expenses | Easy to Manage

Property Description

The LAAA Team at Marcus & Millichap is pleased to introduce 11344 Oxnard Street, a 3-unit value-add investment opportunity in North Hollywood, CA. Constructed in 1927, this rent-controlled property sits on a 7,744 square feet lot (0.18 acres), with a gross building area of 2,358 square feet. There's nearly 50% upside potential over current gross rents, and the buyer could add more value by converting the garages into an ADU. The property's three units are split into a duplex at the front of the lot, and a separate house at the rear. The front duplex includes a 2 bed / 1 bath unit of approximately 750 square feet, and a 1 bed / 1 bath unit of about 550 square feet. The separate house at the back is the most desirable unit at the property. That 2 bed / 2 bath house has approximately 850 square feet, and it also contains in-unit laundry facilities, adding to tenant convenience. The seller has recently made capital improvements such as replacing water heaters in all units and overhauling the water main in October 2022. The property offers ample parking with two spots in the middle of the lot, and two additional 1-car garages at the back of the lot where there's additional space in front of the garages for an extra tandem space. The property's proximity to NoHo West offers potential residents access to amenities like Trader Joe's, Regal Cinemas, LA Fitness, Starbucks, ULTA, and the upcoming Nordstrom Rack, among others.

Key Property Information

Listing Status: Available
Price: $995,000
No. of Units: 3
Cap Rate: 4.56%
GRM /GIM: 15.46
Year Built: 1927
Building Size: 2,358 Sq ft
Lot Size: 7,840.00 Sq ft
Opportunity Zone: No
Price per unit: $331,667
Address: 11344 Oxnard St, North Hollywood, CA 91606, USA

Additional contacts

Full name Phone number Email address
Logan Ward 818-212-2675 [email protected]
Glen Scher 818-212-2808 [email protected]
Filip Niculete 818-212-2748 [email protected]

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