7436-7444 Lankershim Blvd
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7436-7444 Lankershim Blvd
4,217 SF 41% Leased Retail Building North Hollywood, CA 91605 $2,550,000 ($605/SF) 5.37% Cap Rate
Investment Highlights
- Heavy day time foot/car traffic
- Dual Access to Lot- from Lankershim and Alleyway
- Near Metro/bus access, as well as the Bob Hope Airport
Executive Summary
We are excited to offer an exceptional opportunity to purchase a versatile mixed-use commercial property strategically positioned on the highly sought-after Lankershim Blvd. This property currently boasts a 6.22% CAP Rate and presents a potential for a 40-unit Mixed-use Development Project. At present, it comprises six units, including three commercial and three residential units, encompassing a total of 4,217 square feet on a spacious 11,284 square feet lot.
The current 6.22% CAP Rate is based on existing rental income, with the possibility to enhance returns through additional ADU constructions or explore redevelopment opportunities for a mixed-use project featuring up to 40 units alongside ground-floor retail. Its location is optimal with LAC2 zoning, dual access from the front and back of the lot, and proximity to public transit, ensuring significant pedestrian and vehicular traffic (over 260,000 employees within a 5-mile radius and 27,000 cars daily). This makes it a highly desirable location for development.
The current 6.22% CAP Rate is based on existing rental income, with the possibility to enhance returns through additional ADU constructions or explore redevelopment opportunities for a mixed-use project featuring up to 40 units alongside ground-floor retail. Its location is optimal with LAC2 zoning, dual access from the front and back of the lot, and proximity to public transit, ensuring significant pedestrian and vehicular traffic (over 260,000 employees within a 5-mile radius and 27,000 cars daily). This makes it a highly desirable location for development.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$176,400
|
$41.83
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,528
|
$0.84
|
| Effective Gross Income |
$172,872
|
$40.99
|
| Taxes |
$24,750
|
$5.87
|
| Operating Expenses |
$11,300
|
$2.68
|
| Total Expenses |
$36,050
|
$8.55
|
| Net Operating Income |
$136,822
|
$32.45
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $176,400 |
| Annual Per SF | $41.83 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,528 |
| Annual Per SF | $0.84 |
| Effective Gross Income | |
|---|---|
| Annual | $172,872 |
| Annual Per SF | $40.99 |
| Taxes | |
|---|---|
| Annual | $24,750 |
| Annual Per SF | $5.87 |
| Operating Expenses | |
|---|---|
| Annual | $11,300 |
| Annual Per SF | $2.68 |
| Total Expenses | |
|---|---|
| Annual | $36,050 |
| Annual Per SF | $8.55 |
| Net Operating Income | |
|---|---|
| Annual | $136,822 |
| Annual Per SF | $32.45 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,217 SF
Building Class
C
Year Built
1945
Price
$2,550,000
Price Per SF
$605
Cap Rate
5.37%
NOI
$136,822
Percent Leased
41%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.37
Lot Size
0.26 AC
Zoning
LAC2
Parking
4 Spaces (1 Space per 1,000 SF Leased)
Amenities
- Corner Lot
- Fenced Lot
- Metro/Subway
- Signage
Walk Score ®
Very Walkable (71)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
36,920
251,010
683,203
896,627
2029 Population
35,927
243,892
663,424
870,853
2024-2029 Projected Population Growth
-2.7%
-2.8%
-2.9%
-2.9%
Median Age
35.8
38.2
38.2
38.9
College Degree + Higher
16%
25%
29%
23%
Daytime Employees
10,898
91,569
294,021
412,108
Total Businesses
1,359
12,083
37,121
57,050
Average Household Income
$74,334
$86,686
$97,012
$99,544
Median Household Income
$53,552
$64,343
$71,350
$73,281
Total Consumer Spending
$324.3M
$2.7B
$7.8B
$10.4B
2024 Households
10,657
83,609
237,902
308,928
Average Home Value
$705,740
$747,002
$789,101
$791,651
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $1,793,857 | |
| Land Assessment | $1,322,972 | Annual Taxes | $24,750 ($5.87/SF) |
| Improvements Assessment | $470,885 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,322,972
Improvements Assessment
$470,885
Total Assessment
$1,793,857
Annual Taxes
$24,750 ($5.87/SF)
Tax Year
2024
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7436-7444 Lankershim Blvd
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