11613-27 Moorpark St, L.A./Studio City, CA 91602

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Address: 11613-11627 Moorpark St, North Hollywood, CA 91602, USA
Created date: May 2, 2024
Date last updated: July 11, 2024

Reduced price
Buildings can be sold separately or as a portfolio;
Seller carry available – contact agent for more information;
3 adjacent properties totaling 14 units (separate parcels):
11613 Moorpark Street (right building): 5-unit built in 1953
11617 Moorpark Street (middle building): 4-unit built in 1948
11621½-11627 Moorpark Street (left building): 5-unit built in 1945
First time on market in almost 30 years;
Great Los Angeles/Studio City location, south of the 101 Freeway;
Great upside potential (30%+);
Potential to add ADUs or redevelop;
Good unit mix of a studio, one, and two bedrooms;
Onsite laundry facilities;
Very little landlord expenses;
All new electrical panels across all the buildings;
All copper plumbing across all the buildings;
All units have tankless water heaters;
All new sewer lines;
Soft story retrofit completed in 2019 (11613 Moorpark Street);
Recent $20,000+ landlord expense on landscaping/tree trimming;
Easy access to the 101/170/134 Freeways;
Very close to The Shops at Sportsmen’s Lodge in Studio City;
Near Weddington Golf Course & Lakeside Golf Club;
Next door to Walter Reed Middle School and down the street from Oakwood Elementary School;
Short drive to the Westside and Griffith Park/Observatory;
Close to Universal Studios & City Walk;
Plenty of restaurants, bars and shops in the Studio City area;

Property Description

Colliers International’s Ghobadi Multifamily Team is proud to present this unique opportunity to acquire three charming walk-up adjacent buildings, separate parcels, with the potential to add ADUs or redevelop. All three buildings have undergone recent renovations/expenditures that include all new electrical panels, all copper plumbing, tankless water heaters in all units, all new sewer lines, and $20,000+ of extensive cosmetic expenses like tree trimming/landscaping and pressure washing. There are very little expenses as the landlord only has one trash dumpster for all the buildings and the tenants pay their own gas bills. 11613 Moorpark Street is a 5-unit building offering a unit mix of three 1bedroom/ 1bathroom and two 2bedroom/1bathroom units totaling approximately 4,391 rentable square feet on approximately 6,000 square feet of land. This building does offer on-site laundry facilities. 11617 Moorpark Street is a 4-unit building offering a unit mix of three 1bedroom/ 1bathroom and one 2bedroom/1bathroom unit totaling approximately 2,906 rentable square feet on approximately 6,000 square feet of land. This building does offer on-site laundry facilities. 11621½-11627 Moorpark Street is a 5-unit building offering a unit mix of one studio, three 1bedroom/1bathroom, and one 2bedroom/1bathroom unit totaling approximately 3,107 rentable square feet on approximately 6,728 square feet of land. These buildings are located in a great pocket of Los Angeles/Studio City on Moorpark Street, just south of the 101 Freeway between Colfax Avenue and Tujunga Avenue, and next to Walter Reed Middle School. This site has great access to the 101, 170 and 134 Freeeways and is just a short drive to Universal Studios/City Walk, Lakeside Golf Club, Weddington Golf Club and The Shops at Sportsman’s Lodge in Studio City!

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Price: $4,395,000
No. of Units: 14
Cap Rate: 4.28%
GRM /GIM: 14.81
Building Size: 10,396 Sq ft
Lot Size: 18,728.00 Sq ft
Zoning Code: LAR3
Opportunity Zone: No
Price per unit: $313,929
Address: 11613-11627 Moorpark St, North Hollywood, CA 91602, USA

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