CA > North Hollywood
North Hollywood, CA 91601,11448 Cumpston
North Hollywood, CA 91601,11448 Cumpston
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$3,495,000
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11448 Cumpston North Hollywood, CA 91601

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Kurt Wannebo

Kurt Wannebo

+1(858) 405-5878

UPDATED:

Key Details

Property Type Vacant Land

Sub Type Lots/Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID P1-23480

Property Sub-Type Lots/Land

Property Description

Located in the heart of the NoHo Arts District, 11448 Cumpston Street presents a rare opportunity to acquire a multifaceted asset on a +/-13,355 SF lot with immediate value-add potential and long-term development upside. Currently operating as a 15-unit apartment complex, the property features a unit mix of (12) 1-bed / 1-bath units, (2) studio / 1- bath units, and (1) 2-bed / 2-bath unit, totaling +/-8,991 SF of rentable space. Originally built in 1963, the building offers copper plumbing and a newer roof (buyer to verify).With one current vacancy, an investor who leases up the unit can achieve a projected monthly gross rental income of approximately $19,733.08. Additionally, the lot's zoning andlocation offer the potential for up to 60 new units through ground-up development--positioning this as a compelling play for either repositioning or redevelopment.The property qualifies for Tier 6 Section 8 rents and is situated within a Highest Resource Area, which maximizes incentives and density for affordable and mixed-income housing. Whether you're seeking a value-add multifamily investment with upside, exploring ADU additions, or planning a larger multifamily build, this property is strategically positioned in one of Los Angeles' most dynamic rental submarkets.

Location

State CA

County Los Angeles

Direction Located on Cumpston Street, north of Chandler Boulevard, and West of Tujunga Avenue

Interior

Fireplace No

Exterior

View Y/N No

Others

Tax ID 2350010035

MLS Router / San Diego MLS
Listed by Casey Picard Keller Williams Realty

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Kurt Wannebo

Kurt Wannebo

Broker Associate | CA Dre# 01468255

+1(858) 405-5878

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11448 Cumpston

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