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11264 Morrison Street

North Hollywood, CA 91601

$2,200,000

List Price

12

bed Beds

12

shower Baths

5,802 sqft

straighten / sqft

1987

calendar_month Built

Property Description

OM is available upon request. Equity Union as the exclusive listing agent is pleased to present the opportunity to acquire 11264 Morrison St., a six (6) unit apartment building built in 1987 and not subject to the Los Angeles Rent Stabilization Ordinance. The building is subject to State of California AB1482, which allows for five % plus CPI annual rent increases. The unit mix consists of all 2bed+2bath units. The property is a three-story (two stories of apartments on top of an above ground parking structure area) 5,802 square foot walk-up building with frame and stucco construction situated on a 6,500 square foot lot. All the units have large open floor plans that provide an investor with the opportunity to complete their own renovation plan and significantly increase rents. Unit features include large master and second bedrooms, large bathrooms, spacious living room areas, separate dining areas adjacent to the kitchens, and significant natural light. Four of the units have updated flooring, kitchens and bathrooms, including the one current vacancy, which is rent-ready condition. Due to the large size of the units, investors may want to explore the possibility of adding washer/dryers in each unit. All units feature individual hot water heaters, central air conditioners, are separately metered for electricity and gas, and the landlord pays for water and trash. Gated access parking is provided onsite with six (6) very large tandem spaces. Onsite laundry is also provided in a room near the parking area. The front yard area has just been updated with a drought-resistant plant and decomposed granite modern landscaping design and the rear of the property has been updated with a modern stone patio that is a perfect gathering area for tenants.

Listing Information

List Price $2,200,000
Status Active
MLS 24445245
Type Residential Income
Year Built 1987
Lot Size 6,500
Structure Size 5,802
DOM 1
Courtesy Of Equity Union
Listing Agent Josh Kaplan DRE#01934177
Co-Listing Agent Troy Lucero Jr. DRE#02015705

Interior Features

Total Bedroom
Bedrooms 12
Total Bathroom
Bathrooms 12
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

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Listing information courtesy of: Josh Kaplan, Troy Lucero Jr., Equity Union . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 27th, 2024 at 2:47 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.