11461 Albers St North Hollywood, CA 91601-2608

Property Details for 11461 Albers St

Year built

1964

Construction

WOOD

Lot size

0.30 lot acres

Property size

9,747 SF

Zone code

LAR4

Property type

Apartment buildings

APN

2350-007-042

APU

2350007042

Description

This exceptional 12-unit apartment building presents a compelling value-add investment opportunity in the vibrant North Hollywood Arts District. Located at 11461 Albers Street, Los Angeles, CA 91601, this property boasts 9,747 square feet on a 13,016 square foot lot. Built in 1964, the building comprises a mix of seven two-bedroom and five one-bedroom apartments, currently enjoying 99% occupancy with primarily month-to-month tenants. One vacant two-bedroom, two-bathroom unit offers immediate upside potential. The unit mix includes three 2-bed/2-bath, four 2-bed/1-bath, and five 1-bed/1-bath units. The property is zoned R4-1VL and benefits from its prime location, just four blocks from the North Hollywood Metro station and the North Hollywood Reception Center, and within close proximity to the NOHO Central Arts District, offering a wealth of amenities, including cafes, restaurants, studios, bars, workspaces, and shopping. The property's strong occupancy and strategic location within a thriving arts district, coupled with the potential for rental increases, make this a highly attractive investment prospect. The asking price is $2,300,000, representing a price per unit of $191,670. The property is subject to Rent Stabilization Ordinance (RSO). This is a rare chance to acquire a well-located, value-add multifamily asset in a high-demand area. The APN is 2350-007-042.