Under Contract
4710 Colfax Ave
North Hollywood CA, 91602
$2,200,000
$292.09 per sqft
Under Contract
16 Beds
15 Baths
7,532 sqft
Residential
Built in 1963
Marcus and Millichap is proud to present the opportunity to acquire 4710 Colfax Avenue, a timeless 8-unit apartment community set in a highly accessible pocket of North Hollywood. Located amongst a diverse set of single family homes, high-end condominiums, and low-density multifamily buildings, the property offers renters a special mix of a suburban and urban landscape. The property lies less than a ten-minute drive to Toluca Lake, Sherman Oaks, Valley Village, and Studio City. The property sits just minutes from the 101 and 170 intersection providing renters with swift access to Downtown Los Angels, Hollywood, Burbank, and other major employment hubs of L.A. County. Renters enjoy the close proximity to the world class amenities of the North Hollywood Arts District, Studio City's Silver Triangle and the endless array of shops and restaurants along Ventura Blvd in Sherman Oaks just a few miles away. The property boasts a great walk score of 78 allowing most errands to be accomplished without the need for a car. The property improvements are comprised of an approximately 7,532 +/- square foot wood frame and stucco structure on a roughly 9,800 square foot lot. The property features an outstanding unit mix of one (1 bed +1 bath ), six (2 bed +1.5 bath ), and one (3 bed + 2 bath) units. The current ownership has taken pride in the property's upkeep and made significant upgrades to select units including recessed lighting, updated flooring, A/C wall units, fans, bathroom and kitchen tiles. The property features one parking spot per unit. The soft story retrofitting work has been completed (Buyer to verify). The demographics of the surrounding area are highly compelling with a population over 36,000 and an average household income over $120,000. A new Buyer has the opportunity to achieve massive rental upside as market rate rents are achieved through unit turn over and rental increases. North Hollywood continues to see massive levels of investment including the planned District NoHo project which is expected to include 1,500 new apartments, office, and retail. * Unit #7 is currently occupied and rented at $1,634 and the Seller is pursuing an eviction and the unit may be coming vacant. Estimated rental rate for unit #7 is $2,400. Buyer to investigate and verify all claims including vacancy and rent projections.
24-386419
MLSⓇ ID
April 22, 2024
Listed
May 14, 2024
Updated
Map
4710 Colfax Ave
North Hollywood CA, 91602
Interior Features
Total Stories
2
Bedrooms
16
Total Bathrooms
15
Appliances
Washer, Dryer, Ceiling Fan
Laundry Description
Laundry Area
Fireplace
No
Cooling
Yes
Cooling Description
Wall Unit(s)
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.23 Acres
Other Property Details
Area Name
North Hollywood
Days on Market
22
Garage
No
Parking
Covered Parking
Parking Total
8
View
No
County
Los Angeles
Pool
No
Zoning
LARD1.5
Listing History
Date | Event | Price |
---|---|---|
5/14/2024 | Under Contract | — |
Listed by Zachary Rosen with Marcus & Millichap
Listing Contact: 323-305-4374
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Anita Rich shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 5/14/2024