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$ 8,995,000
Est. payment | /mo
32,150 SqFt
$ 8,995,000
Est. payment | /mo
32,150 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 32,150 sqft
Price per Sqft $279
MLS Listing ID CL26655987
HOA Y/N No
Year Built 1974
Lot Size 0.472 Acres
Acres 0.4719
Property Sub-Type Other
Property Description
11231 Otsego Street is a well-maintained 44-unit apartment community located in the heart of North Hollywood, one of the San Fernando Valley's most dynamic rental submarkets. The property features a highly desirable and balanced unit mix consisting of 2 studio units, 21 one-bedroom units, and 21 two-bedroom units, catering to a broad tenant base that includes young professionals, couples, and small families. The asset benefits from efficient utility configuration, with individual metering for gas and electricity and master-metered water, supporting predictable operating expenses and streamlined management.From a tenant's perspective, the property offers both lifestyle convenience and functional amenities. Residents enjoy access to 60 on-site parking spaces, comprised of a combination of single and tandem parking, as well as on-site laundry facilities and trash chutes located on each floor, enhancing day-to-day convenience. The location places tenants near grocery stores, pharmacies, restaurants, and cafs, along with the vibrant NoHo Arts District. Proximity to public transportation, including major bus routes and Metro access, further strengthens the property's appeal to commuters and car-light renters.For investors, 11231 Otsego Street represents a compelling multifamily opportunity supported by scale, location, and operational efficiency. The property's unit mix and strong parking ratio promote stable occupancy, while individual utility metering reduces owner expense exposure. Its well-maintained condition limits near-term capital requirements, and the North Hollywood submarket continues to benefit from redevelopment, employment growth, and sustained rental demandpositioning the asset for consistent cash flow with potential upside through future rent growth or targeted value-add enhancements.
Location
State CA
County Los Angeles
Zoning LAC4
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 2353004026
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Listed by Daniel Withers • Matthews Real Estate Investment Services
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