6
See all 6 photos
$1,850,000
Est. payment /mo
1 BD
1 BA
848 SqFt
Price Dropped by $49K
12035 Runnymede Street North Hollywood, CA 91605
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UPDATED:
02/24/2025 03:17 PM
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 848 sqft
Price per Sqft $2,181
MLS Listing ID SR25020768
Style Detached
Bedrooms 1
Full Baths 1
Construction Status Fixer
HOA Y/N No
Year Built 1926
Lot Size 0.346 Acres
Acres 0.3456
Property Sub-Type Detached
Property Description
12035 Runnymede presents an exceptional opportunity for investors with a fully RTI-approved 72-unit development spanning 37,800 SF on a 15,053 SF lot. Ready for immediate construction, the project is 100% affordable housing, with the seller covering the plan permit costs. The four- story building features 66 one-bedroom units (average 437 SF) and 6 studio units (average 318 SF), designed to meet the growing demand for affordable housing in a high-density area. With an estimated minimum annual rental income of $1,854,120 (per Schedule 6-HCD & Schedule 1- HUD), this project offers a strong return potential. Residents will benefit from thoughtfully designed building amenities, including a 2,800 SF rooftop deck, a recreation room, laundry facilities, an office, and a bicycle room. Designed to embrace the L.A. lifestyle, the project features rooftop spaces that capture breathtaking city lights and sunset views. Strategically located just off Laurel Canyon Blvd between Sherman Way & Saticoy St, the property boasts a Walk Score of 73, offering convenient access to local amenities and public transportation. Its central location, just blocks from the 170, 5, and 101 freeways, ensures seamless connectivity throughout Los Angeles. Located in a densely populated area with over 36,000 residents within a one-mile radius, this project meets a critical housing need while providing an outstanding investment opportunity. Whether you're a seasoned investor, a developer looking for your next project, or a buyer aiming to add high-demand rental units to your portfolio, this is an exceptional op
12035 Runnymede presents an exceptional opportunity for investors with a fully RTI-approved 72-unit development spanning 37,800 SF on a 15,053 SF lot. Ready for immediate construction, the project is 100% affordable housing, with the seller covering the plan permit costs. The four- story building features 66 one-bedroom units (average 437 SF) and 6 studio units (average 318 SF), designed to meet the growing demand for affordable housing in a high-density area. With an estimated minimum annual rental income of $1,854,120 (per Schedule 6-HCD & Schedule 1- HUD), this project offers a strong return potential. Residents will benefit from thoughtfully designed building amenities, including a 2,800 SF rooftop deck, a recreation room, laundry facilities, an office, and a bicycle room. Designed to embrace the L.A. lifestyle, the project features rooftop spaces that capture breathtaking city lights and sunset views. Strategically located just off Laurel Canyon Blvd between Sherman Way & Saticoy St, the property boasts a Walk Score of 73, offering convenient access to local amenities and public transportation. Its central location, just blocks from the 170, 5, and 101 freeways, ensures seamless connectivity throughout Los Angeles. Located in a densely populated area with over 36,000 residents within a one-mile radius, this project meets a critical housing need while providing an outstanding investment opportunity. Whether you're a seasoned investor, a developer looking for your next project, or a buyer aiming to add high-demand rental units to your portfolio, this is an exceptional opportunity to capitalize on North Hollywood's thriving rental market.
12035 Runnymede presents an exceptional opportunity for investors with a fully RTI-approved 72-unit development spanning 37,800 SF on a 15,053 SF lot. Ready for immediate construction, the project is 100% affordable housing, with the seller covering the plan permit costs. The four- story building features 66 one-bedroom units (average 437 SF) and 6 studio units (average 318 SF), designed to meet the growing demand for affordable housing in a high-density area. With an estimated minimum annual rental income of $1,854,120 (per Schedule 6-HCD & Schedule 1- HUD), this project offers a strong return potential. Residents will benefit from thoughtfully designed building amenities, including a 2,800 SF rooftop deck, a recreation room, laundry facilities, an office, and a bicycle room. Designed to embrace the L.A. lifestyle, the project features rooftop spaces that capture breathtaking city lights and sunset views. Strategically located just off Laurel Canyon Blvd between Sherman Way & Saticoy St, the property boasts a Walk Score of 73, offering convenient access to local amenities and public transportation. Its central location, just blocks from the 170, 5, and 101 freeways, ensures seamless connectivity throughout Los Angeles. Located in a densely populated area with over 36,000 residents within a one-mile radius, this project meets a critical housing need while providing an outstanding investment opportunity. Whether you're a seasoned investor, a developer looking for your next project, or a buyer aiming to add high-demand rental units to your portfolio, this is an exceptional opportunity to capitalize on North Hollywood's thriving rental market.
Location
State CA
County Los Angeles
Area North Hollywood (91605)
Zoning LAC2
Interior
Laundry Inside
Exterior
View Neighborhood
Building
Lot Description Sidewalks
Story 1
Sewer Public Sewer
Water Public
Level or Stories 1 Story
Construction Status Fixer
Others
Miscellaneous Storm Drains
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
Listed by Shira Dunn • Keller Williams Luxury