6722 Troost AVE, Los Angeles, CA 91606
6722 Troost AVE, Los Angeles, CA 91606
6722 Troost AVE, Los Angeles, CA 91606
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$1,800,000
Est. payment /mo
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7,801 Sqft Lot
New

6722 Troost AVE Los Angeles, CA 91606

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Robert Cedeno

Robert Cedeno

+1(626) 283-7800

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

MLS Listing ID P1-27092

HOA Y/N No

Year Built 1964

Lot Size 7,801 Sqft

Property Description

Ten-unit value-add opportunity in the heart of North Hollywood with approximately 42% loss-to-lease achievable through renovations. Built in 1964, the property features a 6,766 SF building situated on a 7,801 SF lot. The unit mix consists of (3) 2 Bed / 2 Bath, (3) 1 Bed / 1 Bath, (2) Studio / 1 Bath, and (2) Single / 1 Bath -- providing diverse rental price points and broad tenant demand.The seismic retrofit has been completed with a certificate of compliance issued, removing a major capital and compliance hurdle for incoming ownership. The property includes nine parking spaces in the front and rear, plus an on-site laundry room and parking rent that generate additional ancillary income.Located on a great street within walking distance of the NoHo Arts District, Metro B Line, and the Burbank media employment corridor, 6722 Troost Avenue offers strong in-place fundamentals with substantial mark-to-market upside in one of the San Fernando Valley's most active rental submarkets.North Hollywood is one of the most dynamic rental submarkets in the San Fernando Valley, anchored by the NoHo Arts District -- a cultural hub home to more than 20 professional theaters, galleries, restaurants, breweries, and boutique retail along Lankershim and Magnolia Boulevards.Transit access is a defining advantage of the area. The North Hollywood Metro Station is the terminus of the B Line (Red Line) subway, offering direct service to Hollywood, Universal City, and Downtown Los Angeles, and connects to the G Line (Orange) busway across the Valley. The forthcoming East San Fernando Valley Light Rail and the transformative District NoHo -- a 15-acre transit-oriented development bringing 1,500+ residential units, office, and retail to the station -- are expected to materially lift values and rental demand throughout the trade area.The submarket also benefits from its proximity to the Burbank Media District -- home to Warner Bros., Disney, and NBCUniversal -- and quick access to the 170, 134, 101, and 5 freeways, placing tenants within a short commute of Downtown LA, the Westside, Glendale, and Pasadena. Strong renter demographics and a persistent supply-demand imbalance have supported consistent rent growth across both renovated and classic product.

Location

State CA

County Los Angeles

Area Nho - North Hollywood

Zoning LARD1.5

Interior

Interior Features Multiple Staircases

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Parking Features Assigned

Garage Spaces 2.0

Garage Description 2.0

Fence Wrought Iron

Pool None

Community Features Sidewalks

View Y/N No

View None

Total Parking Spaces 9

Private Pool No

Building

Lot Description Sprinklers None

Others

Senior Community No

Tax ID 2320013009

Energy Description 2575.0

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Casey Picard Keller Williams Realty #01921866

NEARBY SCHOOL & BUSINESS

Robert Cedeno
Robert Cedeno

CEO | License ID: 02031052

+1(626) 283-7800 | robertcedeno52@gmail.com

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6722 Troost AVE