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Multifamily

10931 Bloomfield St

10931 Bloomfield St, North Hollywood, CA 91602

Listing Price: $2,200,000

Cap Rate
2.80%
Number of Units
6
Occupancy
100.0%
Price/Unit
$366,667
Price/Gross SF
$358.77
Gross SF
6,132

Investment Overview

Marcus & Millichap is pleased to present for sale 10931 Bloomfield Street, a 6-unit multifamily investment opportunity in North Hollywood. Located just east of Vineland, one block south of Moorpark Street, the property is in an area that is adjacent to both Toluca Lake and Studio City. Built in 1960 on a 9,202 square foot lot, the improvement totals 6,132 square feet and has undergone upgrades to the roof, decking, asphalt, electrical, and plumbing in recent years. Building amenities include an on-site laundry facility and six (6) covered car-port parking spaces in the rear, which do not require seismic retrofitting. A future investor might explore the opportunity to add an ADU by converting the carport area or by building new carports with an ADU(s) on top. (Buyer to independently verify all upgrades and ADU information) The unit mix consists entirely of three-bedroom and one-half bathroom units with the average unit size over 1000 square feet. The property is 100% occupied and collections have been 100% throughout Covid. Being in the same family since the mid-90’s, units have received various upgrades or renovations, however all of the units would benefit from a more extensive renovation program that could help capture approximately 60% upside in rents. North Hollywood is a highly desirable community that has seen a lot of gentrification and development, causing rental rates to increase and vacancy levels to decline. The surrounding area is centrally located with easy access to public transportation and a variety of shopping centers, restaurants, entertainment studios, auto dealerships, and schools. The property is located close to the 134, 101, and 170 Freeways and walking distance from both Colfax Meadows and Toluca Lake, while the metro link transportation allows easy access throughout the San Fernando Valley and Los Angeles.

Investment Highlights

  • Excellent North Hollywood location, near Studio City, Toluca Lake, and Burbank
  • Fully occupied with 100% Rent Collections
  • Large Three Bedroom Units
  • No Seismic Retrofitting Required

Exclusively Listed By

Financing By

Multifamily

10931 Bloomfield St

Listing Price: $2,200,000

Cap Rate
2.80%
Number of Units
6
Occupancy
100.0%
Price/Unit
$366,667
Price/Gross SF
$358.77
Gross SF
6,132

Investment Highlights

  • Excellent North Hollywood location, near Studio City, Toluca Lake, and Burbank
  • Fully occupied with 100% Rent Collections
  • Large Three Bedroom Units
  • No Seismic Retrofitting Required

Investment Overview

Marcus & Millichap is pleased to present for sale 10931 Bloomfield Street, a 6-unit multifamily investment opportunity in North Hollywood. Located just east of Vineland, one block south of Moorpark Street, the property is in an area that is adjacent to both Toluca Lake and Studio City. Built in 1960 on a 9,202 square foot lot, the improvement totals 6,132 square feet and has undergone upgrades to the roof, decking, asphalt, electrical, and plumbing in recent years. Building amenities include an on-site laundry facility and six (6) covered car-port parking spaces in the rear, which do not require seismic retrofitting. A future investor might explore the opportunity to add an ADU by converting the carport area or by building new carports with an ADU(s) on top. (Buyer to independently verify all upgrades and ADU information) The unit mix consists entirely of three-bedroom and one-half bathroom units with the average unit size over 1000 square feet. The property is 100% occupied and collections have been 100% throughout Covid. Being in the same family since the mid-90’s, units have received various upgrades or renovations, however all of the units would benefit from a more extensive renovation program that could help capture approximately 60% upside in rents. North Hollywood is a highly desirable community that has seen a lot of gentrification and development, causing rental rates to increase and vacancy levels to decline. The surrounding area is centrally located with easy access to public transportation and a variety of shopping centers, restaurants, entertainment studios, auto dealerships, and schools. The property is located close to the 134, 101, and 170 Freeways and walking distance from both Colfax Meadows and Toluca Lake, while the metro link transportation allows easy access throughout the San Fernando Valley and Los Angeles.

Exclusively Listed By

Financing By

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