11344 Oxnard Street, North Hollywood, CA 91606

Property Description

We are pleased to introduce 11344 Oxnard Street, a 3-unit value-add investment opportunity in North Hollywood, CA. Constructed in 1927, this rent-controlled property sits on a 7,744 square feet lot (0.18 acres), with a gross building area of 2,358 square feet. There's nearly 44% upside potential over current gross rents, and the buyer could add more value by converting the garages into an ADU.The property's three units are split into a duplex at the front of the lot, and a separate house at the rear. The front duplex includes a 2 bed / 1 bath unit of approximately 750 square feet, and a 1 bed / 1 bath unit of about 550 square feet. The separate house at the back is the most desirable unit at the property. That 2 bed / 2 bath house has approximately 850 square feet, and it also contains in-unit laundry facilities, adding to tenant convenience. The seller has recently made capital improvements such as replacing water heaters in all units and overhauling the water main in October 2022. The property offers ample parking with two spots in the middle of the lot, and two additional 1-car garages at the back of the lot where there's additional space in front of the garages for an extra tandem space. The property's proximity to NoHo West offers potential residents access to amenities like Trader Joe's, Regal Cinemas, LA Fitness, Starbucks, ULTA, and the upcoming Nordstrom Rack, among others.