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Listed by Casey Picard • Keller Williams Realty
$ 2,750,000
Est. payment /mo
Pending
10039 Haines Canyon Avenue Tujunga (los Angeles), CA 91042
9,588 SqFt
UPDATED:
12/14/2024 05:32 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 9,588 sqft
Price per Sqft $286
MLS Listing ID CRP1-19427
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1957
Lot Size 0.391 Acres
Property Description
Located on Haines Canyon Avenue in Tujunga, California, this twelve unit apartment complex offers (2) - 6 unit buildings on a +/-17,018 SF lot. With (12) - 2 bedroom / 1 bath units, an investor will have the opportunity to capture high rents in the +/-9,588 SF building. Upon lease-up of the existing units, there is an additional rental upside of +/-40%.Built in 1953, the property is under Los Angeles RSO which currently allows owners to increase rents by up to 4% a year.Each unit is separately metered for gas and electricity. The owner currently pays for water, septic, and trash removal.Methods to increase the net operating income include the construction of accessory dwelling units in the rear portion of the property as well as adding washers and dryers back into the former laundry room. Furthermore, a new owner may take steps to relocate tenants to increase current rents to market rate.The asset is centrally located near Burbank, Glendale, and Pasadena allowing for a quick commute to some of the tri-cities best offerings.
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry No Hookups
Exterior
View None
Building
Lot Description Other
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