Price: $6,795,000 | 19 Units
Building SF: 14,580 SF | Lot Size: 12,654 SF
ADDRESS
11040 Hesby Street
North Hollywood, CA 91601
Colliers International’s Ghobadi Investment Team is delighted to introduce this impressive 19-unit apartment building at 11040 Hesby Street, North Hollywood, CA 91601. Constructed in 1986, this property is not subject to LA City Rent Control (RSO), but only Statewide Rent Control (AB 1482). The unit mix is one studio unit, ten 1-bedroom/1-bathroom units, and eight 2-bedroom/1-bathroom units totaling ±14,580 rentable square feet on a ±12,654 square foot corner lot with LAR4 zoning. This building had a new roof installed 3 years ago and offers onsite laundry facilities. The perimeter of the property is fully gated, including gated on-grade parking for the tenants with easy access from the alley. The 1986 construction not subject to LA City RSO, along with its appealing unit mix and promising upside potential make this apartment building an alluring investment opportunity for those seeking the finest qualities of the North Hollywood Arts District.
Positioned on a corner between Lankershim Boulevard and Vineland Avenue, 11040 Hesby Street is positioned well in the center of the NOHO Arts District with plenty of shops, restaurants, and a very dense rental market. The building also provides very easy access to the 101/134/170 Freeways and is centrally located with short drives to the Westside, Hollywood and Downtown Los Angeles. The property also provides tenants a short walk to the North Hollywood Recreation Center as well as Toluca Lake Elementary School and Walter Reed Middle School.
PROPERTY INFORMATION
APN: 2353-009-007
Lot Size: 12,654 SF
Building Size: 14,580 SF
Laundry Facility: Yes
Zoning: LAR4
Parking: 32 Spaces