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12035 Runnymede St - 72 Unit RTI, 100% Affordable, ED-1 Project
0.35 Acres of Commercial Land Offered at $3,200,000 in North Hollywood, CA 91605
Investment Highlights
- 72 Unit RTI or up to 76 Units with 4 Potential ADUs
- Cost Effective 4 Story Structure with no parking: Type V-A Construction
- Convenient Public Transportation: 5 Bus Lines within Blocks with Easy Connections to Orange & Red Lines to Access all parts of Los Angeles.
- Plan Permit paid by Seller
- Easy Walking Access to All Amenities: 73/100 Walk Score.
- 7 Grocery Stores within approximately 1/2 Mile & 9 Schools within approximately 1 Mile.
Executive Summary
OFFERING SUMMARY: 12035 Runnymede offers an investor a 72 Unit RTI project, 37,800 SF building on 15,048 SF of land, which is ready to build (RTI) with Seller paying for the plan permit. The 4-story structure is entirely for 100% affordable housing. The approved plans have 66 x 1-bedroom units (avg size of 437 SF) and 6 studios (avg size of 318 SF). Estimated yearly minimum rental income is $1,854,120 per year per Schedule 6-HCD & Schedule 1-HUD. Building amenities include a 2,800 SF roof deck, recreation room, laundry room, office and bicycle room. The roof deck offers common open space, enhancing the living experience for residents. With a walkscore of 73 out of 100 and located just off Laurel Canyon Blvd between Sherman Way & Saticoy St, the property offers easy access to all amenities and public transportation. Centrally located and blocks from 3 freeways (170, 5 & 101) residents can easily access all parts of Los Angeles.
DEMOGRAPHICS: Dense location in need of housing. Over 36k residents within 1 mile and over 268k residents within 3 miles.
Property Facts
| Price | $3,200,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.35 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Price | $3,200,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.35 AC |
| Opportunity Zone |
Yes |
1 Lot Available
Lot
| Price | $3,200,000 | Lot Size | 0.35 AC |
| Price Per AC | $9,263,146 |
| Price | $3,200,000 |
| Price Per AC | $9,263,146 |
| Lot Size | 0.35 AC |
Description
PLEASE SEE ATTACHED PACKAGE FOR FULL INFORMATION: OFFERING SUMMARY: 12035 Runnymede offers an investor a 72 Unit RTI project, 37,800 SF building on 15,048 SF of land, which is ready to build (RTI) with Seller paying for the plan permit. The 4-story structure is entirely for 100% affordable housing. The approved plans have 66 x 1-bedroom units (avg size of 437 SF) and 6 studios (avg size of 318 SF). Estimated yearly minimum rental income is $1,854,120 per year per Schedule 6-HCD & Schedule 1-HUD. Building amenities include a 2,800 SF roof deck, recreation room, laundry room, office and bicycle room. The roof deck offers common open space, enhancing the living experience for residents. With a walkscore of 73 out of 100 and located just off Laurel Canyon Blvd between Sherman Way & Saticoy St, the property offers easy access to all amenities and public transportation. Centrally located and blocks from 3 freeways (170, 5 & 101) residents can easily access all parts of Los Angeles. DEMOGRAPHICS: Dense location in need of housing. Over 36k residents within 1 mile and over 268k residents within 3 miles.
zoning
| Zoning Code | LAC2 |
| LAC2 |
-
Karl Niehaus -
Amir Lashgari -
CREI
Presented by
12035 Runnymede St - 72 Unit RTI, 100% Affordable, ED-1 Project
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