12035 Runnymede StLos Angeles, CA 91605

This exceptional 72-unit apartment building in North Hollywood, CA presents a compelling investment opportunity. Priced at $3,200,000, this four-story, 37,800 square foot building sits on a 15,048 square foot lot. The property is designed for 100% affordable housing, featuring 66 one-bedroom units (averaging 437 square feet) and 6 studio units (averaging 318 square feet). Approved plans are in place, with the seller covering the plan permit costs. The building boasts attractive amenities including a 2,800 square foot roof deck, a recreation room, laundry facilities, an office, and a bicycle room. Projected annual rental income is a minimum of $1,854,120 based on Schedule 6-HCD & Schedule 1-HUD. Located near Laurel Canyon Boulevard, between Sherman Way and Saticoy Street, the property benefits from a Walk Score of 73, providing easy access to public transportation, including five bus lines within blocks, with convenient connections to the Orange and Red Lines. Its central location offers proximity to three freeways (170, 5, and 101), facilitating easy access to all parts of Los Angeles. Furthermore, the area boasts numerous amenities, including seven grocery stores within half a mile and nine schools within one mile. The property is situated in an Opportunity Zone. The building's design is cost-effective, utilizing Type V-A construction with no parking requirement. There is potential to add up to four additional dwelling units (ADUs). This represents a unique opportunity to acquire a high-yield, affordable housing complex in a desirable Los Angeles location.