Listings / THE DEMILLE APARTMENTS

THE DEMILLE APARTMENTS 7716 Laurel Canyon Blvd, North Hollywood, CA 91605

Price $3,099,000

Cap Rate 2.63%

GRM 16.97

Price Per SF $207

Units 16

Price Per Unit $193,688

Gross Sq. Footage 14,979 SF

Year Built 1970

Status available

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OPPORTUNITY

7716 Laurel Canyon Boulevard presents a unique opportunity to capitalize on a well maintained multifamily property in one of Los Angeles’s most popular rental markets, North Hollywood. Built in 1970, the building has been maintained very well and has a quiet and secluded feel. With central AC, heating, and on-site laundry, tenants are provided with the essentials and amenities of living in a prime neighborhood. This building will provide an investor a great value-add opportunity with tremendous upside in rents upwards of 89 percent.

The building consists of 16 units which include six one-bedroom units, nine two-bedroom units, and one three-bedroom unit. This is perfect for the neighborhood which is filled with a with range of professionals. The property is located on Laurel Canyon Boulevard between Keswick Street and Stagg Street and has access to 170 freeway. In addition, this property allows residents to be in proximity to shopping, dining, and entertainment offered in North Hollywood Arts District. 7716 Laurel Canyon Boulevard is truly a unique property in one of the most exciting rental markets in Los Angeles.

PROPERTY DESCRIPTION