11448 Cumpston ST new Save Request In-Person Tour Request Virtual Tour
North Hollywood,CA 91601
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID P1-23480
Lot Size 0.307 Acres
Property Description
Located in the heart of the NoHo Arts District, 11448 Cumpston Street presents a rare opportunity to acquire a multifaceted asset on a +/-13,355 SF lot with immediate value-add potential and long-term development upside. Currently operating as a 15-unit apartment complex, the property features a unit mix of (12) 1-bed / 1-bath units, (2) studio / 1- bath units, and (1) 2-bed / 2-bath unit, totaling +/-8,991 SF of rentable space. Originally built in 1963, the building offers copper plumbing and a newer roof (buyer to verify).With one current vacancy, an investor who leases up the unit can achieve a projected monthly gross rental income of approximately $19,733.08. Additionally, the lot's zoning andlocation offer the potential for up to 60 new units through ground-up development--positioning this as a compelling play for either repositioning or redevelopment.The property qualifies for Tier 6 Section 8 rents and is situated within a Highest Resource Area, which maximizes incentives and density for affordable and mixed-income housing. Whether you're seeking a value-add multifamily investment with upside, exploring ADU additions, or planning a larger multifamily build, this property is strategically positioned in one of Los Angeles' most dynamic rental submarkets.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LAR4-1VL
Exterior
Fence None
Community Features Street Lights,Sidewalks
View Y/N No
View None
Building
Lot Description Sprinklers None
Water Public
Others
Acceptable Financing Cash,Cash to New Loan
Listing Terms Cash,Cash to New Loan
Special Listing Condition Standard