11649 Burbank Blvd Los Angeles, CA 91601

This single-family home, located at 11649 Burbank Blvd, Los Angeles, CA 91601, presents a compelling investment opportunity. The property, built in 1938, sits on a sizable 6,548 square foot lot zoned LAR3, offering significant potential for future development. The existing structure is a one-story, 1,094 square foot building with a 2+1 unit configuration. Currently generating a net operating income (NOI) of $13,020, resulting in a 1.32% cap rate, the property's pro-forma NOI is projected at $33,390, yielding a 3.39% pro-forma cap rate. The asking price is $985,000. This North Hollywood property benefits from its location in a desirable rental area adjacent to Valley Village, with easy access to public transportation (Metro Rail and bus lines) and major freeways (101, 170, and 134). The thriving NoHo Arts District, with its expanding urban village atmosphere, offers a dynamic and diverse neighborhood with numerous amenities. The property's large lot size and zoning present significant upside potential, particularly considering the ongoing $1 billion mixed-use development project in the area. Note that this property may be sold with 11655 Burbank Blvd. The APN is 2339-015-023.