11966 Saticoy St Los Angeles, CA 91605

Property Details for 11966 Saticoy St

Year built

1947

Property size

6,716 SF

Property type

Apartment buildings

Description

This exceptional 7-unit apartment building presents a compelling investment opportunity in the desirable North Hollywood area of Los Angeles, CA. The property boasts a substantial 37,453 square foot lot, offering significant potential for future development, including Accessory Dwelling Units (ADUs). The existing structure comprises a mix of bungalow-style units, including a four-bedroom, two-bathroom house currently configured as two non-conforming two-bedroom, one-bathroom units, a three-bedroom, one-bathroom house, and five one-bedroom, one-bathroom units. Each unit features individual gas and electric meters, optimizing cash flow and rental income. On-site amenities include parking with storage and laundry facilities. The property benefits from a secured entry and is conveniently located near public transportation, shopping, and major freeways (CA-170 and I-5), with proximity to Burbank Airport. Built in 1947, this Class B property features 6,716 square feet of net rentable space, currently operating at 100% occupancy, generating a Net Operating Income (NOI) of $122,906 and a pro-forma NOI of $136,471. The asking price is $2,200,000, representing a current cap rate of 5.59% and a pro-forma cap rate of 6.20%. The property is zoned LAR1. This is a stabilized investment with strong potential for appreciation and increased cash flow. The land value alone is $58.74 per square foot. The property's location, unit mix, and substantial lot size make it an ideal investment for both seasoned and emerging investors seeking strong returns in a thriving Los Angeles market.