Multifamily

12000 Runnymede St

Listing Price: $2,200,000

Cap Rate
6.38%
Number of Units
4
GRM
12.18
Occupancy
97.00%
Price/Unit
$550,000
Price/Gross SF
$366.67
Gross SF
6,000

Investment Overview

Marcus & Millichap is proud to present 12000 Runnymede Street, a very unique opportunity where the front house, built in 1931, has been completely gutted and renovated in 2020. Furthermore, the seller just finished construction on an additional 3 units, built in 2020, just behind the original house, making this property completely turn-key for the buyer to enjoy.

12000 Runnymede is made up of a fully renovated, 1,945-square foot, two-story with five-bed/three-bath house and three brand new 1,424-square foot three-story three-bed/two-bath, side-by-side town-home style units with a private two-car garage, in-unit washer/dryer and spacious floor plans.

For an unbeatable price of $2,200,000, an investor can realistically expect a projected 6.34% cap rate! With today's low interest rates, an investor is projected to achieve more than a 10% cash-on-cash return with a down payment of $440,000. Furthermore, since this offering is four units, an investor can take advantage of residential financing, fixed for up to 30 years!
Also notable is the fact that this property is in a California Opportunity Zone, which means the immediate area is expected to be gentrifying greatly in the near future.

This offering is ideal for the buyer who wants a pride of ownership, brand new construction property with very little maintenance or expenses, in a very dense rental pocket of North Hollywood.

Investment Highlights

  • Five-Bedroom House Renovated 2020
  • Three New Townhomes Built in 2020
  • All Units Delivered Vacant

Exclusively Listed By

Listing Price: $2,200,000

Cap Rate
6.38%
Number of Units
4
GRM
12.18
Occupancy
97.00%
Price/Unit
$550,000
Price/Gross SF
$366.67
Gross SF
6,000

Investment Highlights

  • Five-Bedroom House Renovated 2020
  • Three New Townhomes Built in 2020
  • All Units Delivered Vacant

Investment Overview

Marcus & Millichap is proud to present 12000 Runnymede Street, a very unique opportunity where the front house, built in 1931, has been completely gutted and renovated in 2020. Furthermore, the seller just finished construction on an additional 3 units, built in 2020, just behind the original house, making this property completely turn-key for the buyer to enjoy.

12000 Runnymede is made up of a fully renovated, 1,945-square foot, two-story with five-bed/three-bath house and three brand new 1,424-square foot three-story three-bed/two-bath, side-by-side town-home style units with a private two-car garage, in-unit washer/dryer and spacious floor plans.

For an unbeatable price of $2,200,000, an investor can realistically expect a projected 6.34% cap rate! With today's low interest rates, an investor is projected to achieve more than a 10% cash-on-cash return with a down payment of $440,000. Furthermore, since this offering is four units, an investor can take advantage of residential financing, fixed for up to 30 years!
Also notable is the fact that this property is in a California Opportunity Zone, which means the immediate area is expected to be gentrifying greatly in the near future.

This offering is ideal for the buyer who wants a pride of ownership, brand new construction property with very little maintenance or expenses, in a very dense rental pocket of North Hollywood.

Exclusively Listed By

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