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Listing Details

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School Ratings & Info

Description

We are please to present the Canyon Manor Apartments. Built in 1972, the building consists of twenty-two (22) 1 bed/1 bath units and two (2) 2 bed/1 bath units. The building totals 15,570 gross square feet and sits on a 0.51-acre lot that is LAR3 zoned. The property features on-site parking, gated pool and a laundry facility. Canyon Manor Apartments is a value-add opportunity in which new ownership has an opportunity to increase rents by virtue of implementing a renovation program to the unit interiors. Current rents are approximately twenty-seven percent (27%) below market. This is an excellent opportunity for an investor who is looking for a value-add property in an emerging submarket with historically low vacancy rates. The property is conveniently located just a short walk from restaurants, cafes, grocery stores and large retail centers on Sherman Way. For nightlife options, the property is just a short drive away from bars, restaurants and other entertainment options located in the NOHO Arts District. Nearby employment hubs include Burbank, Glendale, Hollywood, Downtown Los Angeles and Warner Center. The property is located just a few blocks from the 170 freeway, and a short drive to 405, 5 and 101 freeways.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-18T23:42:41.19. 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.
www.brandiprattrealestate.com/homes/121182522
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7055 Coldwater Canyon Ave North Hollywood, CA 91605

  • Price: $4,350,000
  • Status: Active
  • Updated: 115 min ago
  • ID#: 21-780208
26
Beds
0
Baths
0
½ Baths
0.51
Acres
15,570
SQFT
$279
$/SQFT
1972
Built
Neighborhood:
North Hollywood
County:
Los Angeles
Area:
North Hollywood
Property Description
We are please to present the Canyon Manor Apartments. Built in 1972, the building consists of twenty-two (22) 1 bed/1 bath units and two (2) 2 bed/1 bath units. The building totals 15,570 gross square feet and sits on a 0.51-acre lot that is LAR3 zoned. The property features on-site parking, gated pool and a laundry facility. Canyon Manor Apartments is a value-add opportunity in which new ownership has an opportunity to increase rents by virtue of implementing a renovation program to the unit interiors. Current rents are approximately twenty-seven percent (27%) below market. This is an excellent opportunity for an investor who is looking for a value-add property in an emerging submarket with historically low vacancy rates. The property is conveniently located just a short walk from restaurants, cafes, grocery stores and large retail centers on Sherman Way. For nightlife options, the property is just a short drive away from bars, restaurants and other entertainment options located in the NOHO Arts District. Nearby employment hubs include Burbank, Glendale, Hollywood, Downtown Los Angeles and Warner Center. The property is located just a few blocks from the 170 freeway, and a short drive to 405, 5 and 101 freeways.
Exterior Features

Lot Size Area 22211 Other Structures None Parking Garage Uncovered Total Parking 37

Interior Features

Baths Total 26.00 Cooling Wall/Window Equipment None Heating Wall

Property Features

Assessed Total Value 934484 Gross Income 339398 Gross Operating Income 329216 Like Units1 22 Like Units2 2 Net Operating Income 161458.00 Number Of Buildings 1 Number Of Units 24 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Assessor Total Annual Expense 167758 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Jeffrey Louks DRE#00908473 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-18T23:42:41.19. 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.
 
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eXp Realty of California, Inc.
2603 Camino Ramon, Suite 200
San Ramon CA, 94583