11627 Moorpark Street, Los Angeles/Studio City, CA

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Address: 11627 Moorpark St, North Hollywood, CA 91602, USA
Created date: June 10, 2024
Date last updated: July 11, 2024

• 5-units built in 1945
• First time on market in almost 30 years
• Great Los Angeles/Studio City location, south of the 101 Freeway
• Good upside potential (30%+)
• Good unit mix of studio, one and two bedrooms
• Very little landlord expenses
• New electrical panels
• Copper plumbing
• All units have tankless water heaters
• New sewer lines
• 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 charming 5-unit apartment building located at 11621 1/2 Moorpark Street, Los Angeles/Studio City, CA 91602. Built in 1945, this building has a unit mix comprised of one studio, three 1bedroom/1bathroom and one 2bedroom/1bathroom unit totaling approximately 3,100 rentable square feet on approximately 6,728 square feet of land zoned LAR3. The current ownership recently completed many renovations to the property such as new electrical panels, copper plumbing, tankless water heaters in all units, and new sewer lines. All the costly deferred maintenance which has already been completed coupled with a great location and very little landlord expenses make this a fantastic opportunity for investors looking at prime locations in the San Fernando Valley. The building is 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
Property Types: Apartment Buildings
Price: $1,500,000
No. of Units: 5
Cap Rate: 4.11%
GRM /GIM: 15.30
Year Built: 1945
Building Size: 3,100 Sq ft
Lot Size: 6,728.00 Sq ft
APN: 2365-002-010
Zoning Code: LAR3
Opportunity Zone: No
Price per unit: $300,000
Address: 11627 Moorpark St, North Hollywood, CA 91602, USA

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