6722 Troost Avenue,Los Angeles, CA 91606
Los Angeles, CA 91606
Description
Ten-unit value-add opportunity in the heart of North Hollywood with approximately 42% loss-to-lease achievable through renovations. Built in 1964, the property features a 6,766 SF building situated on a 7,801 SF lot. The unit mix consists of (3) 2 Bed / 2 Bath, (3) 1 Bed / 1 Bath, (2) Studio / 1 Bath, and (2) Single / 1 Bath -- providing diverse rental price points and broad tenant demand.The seismic retrofit has been completed with a certificate of compliance issued, removing a major capital and compliance hurdle for incoming ownership. The property includes nine parking spaces in the front and rear, plus an on-site laundry room and parking rent that generate additional ancillary income.Located on a great street within walking distance of the NoHo Arts District, Metro B Line, and the Burbank media employment corridor, 6722 Troost Avenue offers strong in-place fundamentals with substantial mark-to-market upside in one of the San Fernando Valley's most active rental submarkets.North Hollywood is one of the most dynamic rental submarkets in the San Fernando Valley, anchored by the NoHo Arts District -- a cultural hub home to more than 20 professional theaters, galleries, restaurants, breweries, and boutique retail along Lankershim and Magnolia Boulevards.Transit access is a defining advantage of the area. The North Hollywood Metro Station is the terminus of the B Line (Red Line) subway, offering direct service to Hollywood, Universal City, and Downtown Los Angeles, and connects to the G Line (Orange) busway across the Valley. The forthcoming East San Fernando Valley Light Rail and the transformative District NoHo -- a 15-acre transit-oriented development bringing 1,500+ residential units, office, and retail to the station -- are expected to materially lift values and rental demand throughout the trade area.The submarket also benefits from its proximity to the Burbank Media District -- home to Warner Bros., Disney, and NBCUniversal -- and quick access to the 170, 134, 101, and 5 freeways, placing tenants within a short commute of Downtown LA, the Westside, Glendale, and Pasadena. Strong renter demographics and a persistent supply-demand imbalance have supported consistent rent growth across both renovated and classic product.
Details
| MLS # | P1-27092 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1964 |
| Days On Site | 104 |
| Listing Provided By | Keller Williams Realty | Casey Picard |
Features
| SQ Feet | 6,735 |
|---|---|
| Garage | 2 |
| Units | 10 |
| Building(s) | 1 |
| Zoning | LARD1.5 |
| Acreage | 0.18 |
| Property View | None |
Interior
| Cooling | Wall Window Units |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | Multiple Staircases |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Sprinklers None |
|---|---|
| Fencing | Wrought Iron |
Parking
| Parking Features | Assigned |
|---|---|
| Garage Yes / No | Yes |
Location
| Community Features | Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 91606 |
| Area | NHO North Hollywood |
| Community Name | Not Applicable |
| Listing VS Median (in Not Applicable) | |
Price: $1,750,000 low | high Med: $1,775,000 sqft: 6,735 low | high Med: 7,123 $ / sqft: $260 low | high Med: $250 On site: 104 low | high Med: 133.5 | |
Market Activity 91606
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 91606 |
| Area | NHO North Hollywood |
| Community Name | Not Applicable |
| Listing VS Median (in Not Applicable) | |
Price: $1,750,000 low | high Med: $1,775,000 sqft: 6,735 low | high Med: 7,123 $ / sqft: $260 low | high Med: $250 On site: 104 low | high Med: 133.5 | |
 | $1,510,0006651 BeckLos Angeles, CA 91606 |