11334 TIARA STREET, NORTH HOLLYWOOD, CA 91601

  • Lot Size: 7,002 sqft
  • MLS #BB23073586
For Sale $1,295,000
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Description

Developers, here is your next opportunity to build a new construction fourplex in NOHO ARTS! 11334 Tiara St is an SB-8 EXEMPT, NON-RENT CONTROLLED, 7,002 square foot flat lot that is being delivered with RTI plans for FOUR meticulously designed units with a future projected value of $3,400,000!!! The plans on this are next level, combining ultra-sleek design with attention to cost-effective construction (no need for steel or commercial construction, meaning lots of $$$ saved!). The plans feature two freestanding 3-story 5 bed, 5.5 bath homes that we project will obtain $5,200+ a piece in rent, and a duplex containing two 4 bed, 4.5 bath units, each with a projected rent of $4,600. These expertly designed plans will be impressive to both future tenants and future buyers- making this a brilliant investment whether you build and hold or build and sell. Upon completion of the construction, we project a total monthly rent of $19,600, meaning if you buy and hold long-term you're looking at an over 7% cap rate! This property boasts an unbeatable NoHo location walking distance to Lankershim Blvd (NoHo Arts District’s main hub) and NoHo West, a massive mixed-use development with Trader Joes, Regal Cinema Movie Theater, LA Fitness, The Stand, Ulta Beauty, Starbucks and more. NoHo is the hottest rental market in the Valley- and this highly walkable location will make for low vacancy and ideal tenants for years to come!

FACTS / FEATURES

  • Lot Size: 7,002 sqft
  • View: Neighborhood

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Listing Provided by Elizabeth Maddox, The 2-4 Unit Specialists
Based on information from California Regional Multiple Listing Service, Inc. as of May 28, 2023. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.