12035 Runnymede Street, North Hollywood, CA 91605
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Listed Price :
$3,950,000
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Beds :
N/A
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Baths :
N/A
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Property Size :
N/A sqft
Property Description
The development will be delivered 76 units RTI fully entitled, 66 1's, 6 studios, 1 Bed ADU and 3 single ADUs, with 4 story stack construction and is located in an opportunity zone. Most recently LADWP has approved service. The permit fees will be paid by the Buyer. The property is entitled with no parking. There are no off site requirements, no school fees (save $200,000), no linkages, and no relocation fees. Due diligence includes, Blueprints and plans, HACLA guidance, GC bids, Soils reports, Developers Proforma analysis, Brokers Development analysis, Methane report, Letter of Determination, Preliminary Zoning Assessment from City with approval for 76 units, and the Prelim. Understanding the orientation of the land is critical as the overhead power lines run away from the development site and there are fully occupied apartments nearby which are much closer to these overhead lines. The total yearly forecasted rent is $2.05 mil per yr. on an estimated projected cost basis of $15 mil including the land and entitlement and hard and soft construction costs.
Interior Features
Bedroom Information |
Bedrooms |
N/A |
Bathroom Information |
Bathrooms |
N/A |
Listing Information
Address |
12035 Runnymede Street |
City |
North Hollywood |
State |
CA |
Zip |
91605 |
County |
Los Angeles |
Listing Agent |
Michael R. Fukushima DRE #01380445 |
Co-Listing Agent |
Stephen F. Watson DRE #01187813 |
Courtesy Of |
Keller Williams Downtown LA |
List Price |
$3,950,000 |
Status |
Active |
Type |
Land |
Structure Size |
N/A |
Lot Size |
15,048 |
Listing information courtesy of: Michael R. Fukushima, Stephen F. Watson, Keller Williams Downtown LA. *Based on information from the Association of REALTORS/Multiple Listing as of Apr 24th, 2024 at 12:08 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.