Thank you
Zachary Rosen
Marcus & Millichap
310-909-5500
Marcus and Millichap is proud to present the opportunity to acquire 4710 Colfax Avenue, a timeless 8-unit apartment community set in a highly accessible pocket of North Hollywood. Located amongst a diverse set of single family homes, high-end condominiums, and low-density multifamily buildings, the property offers renters a special mix of a suburban and urban landscape. The property lies less than a ten-minute drive to Toluca Lake, Sherman Oaks, Valley Village, and Studio City. The property sits just minutes from the 101 and 170 intersection providing renters with swift access to Downtown Los Angels, Hollywood, Burbank, and other major employment hubs of L.A. County. Renters enjoy the close proximity to the world class amenities of the North Hollywood Arts District, Studio City's Silver Triangle and the endless array of shops and restaurants along Ventura Blvd in Sherman Oaks just a few miles away. The property boasts a great walk score of 78 allowing most errands to be accomplished without the need for a car. The property improvements are comprised of an approximately 7,532 +/- square foot wood frame and stucco structure on a roughly 9,800 square foot lot. The property features an outstanding unit mix of one (1 bed +1 bath ), six (2 bed +1.5 bath ), and one (3 bed + 2 bath) units. The current ownership has taken pride in the property's upkeep and made significant upgrades to select units including recessed lighting, updated flooring, A/C wall units, fans, bathroom and kitchen tiles. The property features one parking spot per unit. The soft story retrofitting work has been completed (Buyer to verify). The demographics of the surrounding area are highly compelling with a population over 36,000 and an average household income over $120,000. A new Buyer has the opportunity to achieve massive rental upside as market rate rents are achieved through unit turn over and rental increases. North Hollywood continues to see massive levels of investment including the planned District NoHo project which is expected to include 1,500 new apartments, office, and retail. * Unit #7 is currently occupied and rented at $1,634 and the Seller is pursuing an eviction and the unit may be coming vacant. Estimated rental rate for unit #7 is $2,400. Buyer to investigate and verify all claims including vacancy and rent projections.
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Total Bedrooms : 16
Total Baths: 15
Full Baths: 0
Half Baths: 0
Interior Features: Ceiling Fan(s)
Property Appliances: Dryer,Washer
Wall Furnace
Has Heating
Year Built: 1963
Building Area Total: 7,532
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.225
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 9803
Original List Price: 2,200,000
Listing Contract Date: 2024-04-22
Listing Agreement: Seller Reserved
Parcel Number: 2354017003
Garage Description: Covered
Lease Term: Negotiable
Source Listing Status: Active Under Contract
Source Neighborhood: NHO - North Hollywood
Postal Code Plus 4: 1044
Directions: East side of Colfax Ave just south of Riverside Dr.
Zoning: LARD1.5
Source Property Type: Residential Income
Area: NHO - North Hollywood
Property Age: 61
Year Built Source: Vendor Enhanced
Total Square Feet Living: 7532
Levels or Stories: One
Building Total Stories: 1
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
11100 Hortense Street, North Hollywood, CA,91602 | $1,998,000 | 4 | 3 | 3,487 | 8251 Sqft |
10815 Acama Street, North Hollywood, CA,91602 | $1,428,000 | 3 | 2 | 1,569 | 6254 Sqft |
11120 Moorpark Street #2, North Hollywood, CA,91602 | $618,000 | 2 | 1 | 1,056 | 7759 Sqft |
11650 Blix Street, North Hollywood, CA,91602 | $1,689,000 | 8 | 5 | 3,828 | 9233 Sqft |
4404 Ensign Avenue, North Hollywood, CA,91602 | $1,670,000 | -- | -- | 4,728 | 6252 Sqft |
4177 Bakman Avenue, North Hollywood, CA,91602 | $3,599,000 | 5 | 6 | 3,600 | 6542 Sqft |
10707 S Camarillo Stree.., North Hollywood, CA,91602 | $700,000 | 2 | 2 | 1,154 | 33602 Sqft |
11246 Kling Street, North Hollywood, CA,91602 | $3,199,000 | 4 | 4 | 3,591 | 8253 Sqft |
4170 Fair Avenue #103, North Hollywood, CA,91602 | $849,000 | 2 | 2 | 1,240 | 33463 Sqft |
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ByOwner last updated this listing 05/18/2024 @ 20:17
MLS: 24386419
LISTED BY: Zachary Rosen, Marcus & Millichap
SOURCE: CRMLS
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.