USACANorth HollywoodNot Applicable11448 Cumpston St
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$3,495,000

11448 Cumpston St, North Hollywood, CA

Real Estate

For Sale

$--,---,---
000
  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Land
Size -
Garage No
Taxes 
Days Active 2
Lot Size 
Approx. Age 
MLS® Number P1-23480

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

Located in the heart of the NoHo Arts District, 11448 Cumpston Street presents a rare opportunity to acquire a multifaceted asset on a +/-13, 355 SF lot with immediate value-add potential and long-term development upside. Currently operating as a 15-unit apartment complex, the property features a unit mix of (12) 1-bed / 1-bath units, (2) studio / 1- bath units, and (1) 2-bed / 2-bath unit, totaling +/-8, 991 SF of rentable space. Originally built in 1963, the building offers copper plumbing and a newer roof (buyer to verify).With one current vacancy, an investor who leases up the unit can achieve a projected monthly gross rental income of approximately $19, 733.08. Additionally, the lot's zoning andlocation offer the potential for up to 60 new units through ground-up development--positioning this as a compelling play for either repositioning or redevelopment.The property qualifies for Tier 6 Section 8 rents and is situated within a Highest Resource Area, which maximizes incentives and density for affordable and mixed-income housing. Whether you're seeking a value-add multifamily investment with upside, exploring ADU additions, or planning a larger multifamily build, this property is strategically positioned in one of Los Angeles' most dynamic rental submarkets.Show Description
MLS® NumberP1-23480
Laundry Level
Central VacNo
FireplaceNo
Acreage0.3066
Exterior
GarageNo
Approx. Age
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

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