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7539 N Hollywood Way

Los Angeles, CA 91505
  • $3,400,000
  • STATUS: Active
  • ON SITE: 74 Days
  • MLS #: 22-132815
UPDATED: 124 min ago
$3,400,000
  • 7
    BEDS
  • 0.39
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,916
    SQFT
  • $868
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1954
County:
Area:

School Ratings & Info

Description

First time on the market since 1977. Located in a Federal Opportunity Zone, this unique multifamily property includes a 7-unit free-standing apartment house with two additional vacant & contiguous LAR3-1 zoned parcels in Tier 3 of the Transit Oriented Communities bonus density district. The apartment building is a two-story walk-up configuration built in 1954 with soft-story retrofit work completed. Units are all one bedroom / one bath floorplans. There is major upside in the rents & this opportunity provides income during the entitlement process. Currently offering laundry facilities and 10 parking spaces. Total lot area encompasses 17,192 square feet with the continuous lots included. 7539 Hollywood Way is a few blocks north of the Burbank Airport placing it amongst a major employment cluster including dozens of aviation support & high technology companies, several major motion picture studios and multiple regional retail shopping districts. The close proximity to the Interstate 5 Freeway provides quick access to the communities of the eastern and western San Fernando Valleys, the Santa Clarita Valley, Downtown Los Angeles and via the 134/101 Freeway the Glendale, Pasadena and the Ventura Boulevard corridor communities. Please do not walk on property or disturb the tenants.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-20T23:43:00.543. 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.searchdesertrealestate.com/homes/126460381
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7539 N Hollywood Way Los Angeles, CA 91505

  • Price: $3,400,000
  • Status: Active
  • On Site: 74 Days
  • Updated: 124 min ago
  • MLS #: 22-132815
7
Beds
0
Baths
0
½ Baths
0.39
Acres
3,916
SQFT
$868
$/SQFT
1954
Built
Neighborhood:
Sun Valley
County:
Los Angeles
Area:
Sun Valley
Property Description
First time on the market since 1977. Located in a Federal Opportunity Zone, this unique multifamily property includes a 7-unit free-standing apartment house with two additional vacant & contiguous LAR3-1 zoned parcels in Tier 3 of the Transit Oriented Communities bonus density district. The apartment building is a two-story walk-up configuration built in 1954 with soft-story retrofit work completed. Units are all one bedroom / one bath floorplans. There is major upside in the rents & this opportunity provides income during the entitlement process. Currently offering laundry facilities and 10 parking spaces. Total lot area encompasses 17,192 square feet with the continuous lots included. 7539 Hollywood Way is a few blocks north of the Burbank Airport placing it amongst a major employment cluster including dozens of aviation support & high technology companies, several major motion picture studios and multiple regional retail shopping districts. The close proximity to the Interstate 5 Freeway provides quick access to the communities of the eastern and western San Fernando Valleys, the Santa Clarita Valley, Downtown Los Angeles and via the 134/101 Freeway the Glendale, Pasadena and the Ventura Boulevard corridor communities. Please do not walk on property or disturb the tenants.
Exterior Features

Carport Spaces Total 2 Cross Streets San Fernando Road & Hollywood Way Direction Faces East Entry Location Living Room Exterior Construction StuccoWood Siding Lot Description 2-4 LotsValue In Land Lot Location City Lot Size Area 17192 Other Structures None Parking Garage CarportOther Patio Features None Pool Description None Pool YN No Roof CompositionShingle Spa None Spa YN No Sprinklers Sprinkler TimerSide Style Mid-Century Tennis Court None Tennis YN No Total Parking 10 View Description None View YN No Water Frontage None

Interior Features

Bathroom Features Shower Over Tub Baths Total 7.00 Cooling Wall Unit(S) Equipment Garbage Disposal Flooring CarpetLaminateVinyl Sheet Heating Wall Laundry Room Laundry Equipment Lease Water Heater Features Central Water HeaterGas

Property Features

Alley YN No Assessed Total Value 337352 Disability Access None Gross Income 73140 Gross Operating Income 70945 Inclusions Property is Located Within A Federal Opportunity Zone Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 36070.00 Number Of Buildings 1 Number Of Units 7 Owner Pays WaterGardener Property Condition Updated/RemodeledValue Mainly In Land Rent Control YN Yes Sale Type Standard Security Features None Sewer In Street Source Living Area Assessor Source Lot Size Area Assessor Source Lot Size Dimensions Assessor Tenant Pays ElectricityGasCable Tv Total Annual Expense 34875 Type Of Units Apartments Water Public Year Built Source Assessor Zoning Lar3-1 Toc Tier 3

Listing provided courtesy of James Gilb DRE#00998653 of James F. Gilb.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-20T23:43:00.543. 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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