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$ 3,800,000
Est. payment | /mo
0.29 Acres Lot
$ 3,800,000
Est. payment | /mo
0.29 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25506843
HOA Y/N No
Year Built 1964
Lot Size 0.288 Acres
Property Description
Welcome to Mesa Otsego, A Prime Investment Opportunity in North Hollywood! Tucked away on a quiet, tree-lined street in the heart of NorthHollywood. Mesa Otsego is a well-maintained 16-unit apartment building offering stability and upside potential. Projected future income could be $28,200/mth or $338,400/year. The property consists of 14 one-bedroom, one-bathroom units, each with a covered carport parking spot, and a spacious two-bedroom, two-bathroom manager's unit, which is currently vacant, allowing the flexibility to choose your resident manager. Three units will be delivered vacant, providing an excellent opportunity for owner occupancy or market-rate rentals. The property has undergone key upgrades, including a completed soft-story retrofit and a newer electrical panel. 3 Units are currently vacant and ready to rent to new tenants. Residents can enjoy a refreshing pool, on-site community laundry, and, in select units, private outdoor spaces. Beyond the property, Mesa Otsego offers unbeatable access to the best of the NOHO Arts District. Just moments away, you'll find some of the neighborhood's hottest restaurants, including The Federal, a stylish gastropub with craft cocktails; Idle Hour, the iconic barrel-shaped bar with a lively atmosphere; and The Front Yard, a local favorite serving elevated California cuisine. Enjoy world-class entertainment at The Road Theatre Company and the historic El Portal Theatre, or grab a coffee at the ever-popular Groundwork Coffee Co.. With Metro access nearby, commuting is a breeze, making this an attractive location for renters. Drive by only. Do not disturb tenants. All offers are subject to interior inspection.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LARD1.5
Interior
Heating Wall Furnace
Fireplace No
Laundry Common Area, Laundry Room
Exterior
Community Features Gated
Roof Type Composition
Total Parking Spaces 15
Building
Story 2
Others
Tax ID 2419007026
Security Features Gated Community
Financing Cash,Conventional
Special Listing Condition Standard
Listed by Gina Isaac • Nourmand & Associates-HW