Active
7436 Lankershim Boulevard
North Hollywood CA, 91605
$2,550,000
$604.70 per sqft
Active
4,217 sqft
Multi-family
Built in 1942
Listed by David Nalbandyan with LA Premier Realty [email protected]
We are pleased to present a unique chance to acquire a versatile mixed-use commercial property ideally located on renowned Lankershim Blvd, offering both a cash flow generating property, as well as a lucrative Development Opportunity. This property currently features a total of six units, comprising three commercial units and three residential units. The building spans 4,217 square feet and is situated on a generous 11,284 square feet lot. The current 5% CAP Rate is based on existing rental income, with the possibility to enhance returns through additional ADU constructions or explore redevelopment opportunities for a mixed-use project featuring up to 40 units alongside ground-floor retail. Its location is optimal with LAC2 zoning, dual access from the front and back of the lot, and proximity to public transit, ensuring significant pedestrian and vehicular traffic (over 260,000 employees within a 5-mile radius and 27,000 cars daily). This makes it a highly desirable location for development.
BB24132576
MLSⓇ ID
July 10, 2024
Listed
November 22, 2024
Updated
Map
7436 Lankershim Boulevard
North Hollywood CA, 91605
Interior Features
Total Stories
1
Laundry Description
Inside
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.26 Acres
Lot Features
0-1 Unit/Acre
Sewer
Public Sewer
Other Property Details
Area Name
NHO - North Hollywood
Days on Market
111
Garage
Yes
Garage Spaces
2
Parking Total
6
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LAC2
Listing History
Date | Event | Price |
|---|---|---|
10/29/2024 | Price change | $2,550,000 15% |
10/21/2024 | Price change | $2,199,000 -9% |
Listing Contact: 855-525-7653
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 11/22/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 11/22/2024 at 6:54 PM UTC