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Christopher Rizzotti
DRE#: 01298167
Burbank, CA 91505
818-262-5446

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Listing 7 out of 13
$999,000 Pending

4908 Tujunga Avenue
North Hollywood, CA 91601

3 units | Multi Family Home
6464 sq ft lot - MLS# BB19130429
Property Photo
1/3

Description

4908 Tujunga is an adorable triplex situated on a 6,466 square foot LAR3 lot in a prime NoHo Arts District location. This property offers unlimited options for developers, investors and owner occupiers! 1. Build! This property is on a LAR3 lot in a Tier 1 Transit Oriented Community. What does LAR3 with Tier 1 TOC mean? You can obtain a 50% density bonus and by right, you can build one unit per 800 square feet of land! That comes out to 12 units (buyer must do their own due diligence, seller and agent make no guarantees). Our recent new construction sales in this area have gone for $497-$499 per square foot, a great sign that a new construction project in this location would be profitable! 2. Invest/fix and flip! These cottage-like units are truly charming and would be the perfect candidate for a renovation! There is a tremendous amount of upside on this property. The cap rate is currently 3.28%, but with market rents it would jump to 4.90%. 3. Owner occupy! 4908 Tujunga is located in the heart of the outrageously trendy NoHo Arts District. It is moments away from a wide selection of lively bars, restaurants, and entertainment. Additionally, it is minutes from both Valley Village and Studio City, making this the ideal location for a development!

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Pending
  • Zip Code: 91601
  • Year Built: 1940
  • Stories: One
  • Units: 3 units
  • # of Parking Spaces: 6.00
  • Lot Size: 6464 sq ft lot
  • Zoning: LAR3
  • Area: NHO - North Hollywood
  • Average1BedArea: 699
  • Average2BedAreaUnits: Square Feet
  • Average3BedAreaUnits: Square Feet
  • AverageStudioAreaUnits: Square Feet
  • BuildingAreaTotal: 2097.00
  • BuildingAreaUnits: Square Feet
  • CapRate: 3.28
  • CommonWalls: 2+ Common Walls
  • CommunityFeatures: Curbs, Sidewalks, Street Lights
  • Country: US
  • Directions: On Tujunga between Huston and Morrison
  • EntryLevel: 1
  • Garage Spaces: 3.00
  • GardenerExpense: 900.00
  • GrossIncome: 4035.00
  • GrossMultiplier: 20.63
  • GrossScheduledIncome: 48423.00
  • InsuranceExpense: 839.00
  • LaundryFeatures: Common Area
  • LaundryYN: Yes
  • Listing Agent License: 01921425
  • Listing Office License: 01921425
  • LotFeatures: Level, Near Public Transit, Value In Land, Walkstreet
  • LotSizeArea: 6466.0000
  • LotSizeSource: Assessor
  • LotSizeUnits: Square Feet
  • MLS: CRM
  • MaintenanceExpense: 1200.00
  • NetOperatingIncome: 32736.00
  • NewTaxesExpense: 11948.00
  • NumberOfBuildings: 1
  • NumberOfSeparateElectricMeters: 3
  • NumberOfSeparateGasMeters: 3
  • NumberOfSeparateWaterMeters: 1
  • OperatingExpense: 15687.00
  • PropertyAttachedYN: Yes
  • RentControlYN: Yes
  • Sewer: Public Sewer
  • StoriesTotal: 1
  • TotalActualRent: 4035.00
  • TotalExpenses: 15687.00
  • UncoveredSpaces: 3.00
  • WaterSewerExpense: 800.00
  • WaterSource: Public
  • YearBuiltSource: Assessor
Courtesy of The 2-4 Unit Specialists, Elizabeth Maddox

818-262-5446 | Contact Me
Burbank, CA 91505
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