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$1,985,000

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1 BD

1 BA

848 SqFt

New

12035 Runnymede ST North Hollywood, CA 91605

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Jason Tomei

[email protected] +1(702) 802-8142

UPDATED:

01/30/2025 02:59 PM

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 848 sqft

Price per Sqft $2,340

MLS Listing ID SR25020768

Bedrooms 1

Full Baths 1

Construction Status Fixer

HOA Y/N No

Year Built 1926

Lot Size 0.346 Acres

Property Description

12035 Runnymede presents an exceptional opportunity for investors with a fully RTI-approved 72-unit development spanning 37,800 SF on a 15,053 SF lot. Ready for immediate construction, the project is 100% affordable housing, with the seller covering the plan permit costs. The four- story building features 66 one-bedroom units (average 437 SF) and 6 studio units (average 318 SF), designed to meet the growing demand for affordable housing in a high-density area. With an estimated minimum annual rental income of $1,854,120 (per Schedule 6-HCD & Schedule 1- HUD), this project offers a strong return potential. Residents will benefit from thoughtfully designed building amenities, including a 2,800 SF rooftop deck, a recreation room, laundry facilities, an office, and a bicycle room. Designed to embrace the L.A. lifestyle, the project features rooftop spaces that capture breathtaking city lights and sunset views. Strategically located just off Laurel Canyon Blvd between Sherman Way & Saticoy St, the property boasts a Walk Score of 73, offering convenient access to local amenities and public transportation. Its central location, just blocks from the 170, 5, and 101 freeways, ensures seamless connectivity throughout Los Angeles. Located in a densely populated area with over 36,000 residents within a one-mile radius, this project meets a critical housing need while providing an outstanding investment opportunity. Whether you're a seasoned investor, a developer looking for your next project, or a buyer aiming to add high-demand rental units to your portfolio, this is an exceptional opportunity to capitalize on North Hollywood's thriving rental market.

Location

State CA

County Los Angeles

Area Nho - North Hollywood

Zoning LAC2

Rooms

Main Level Bedrooms 1

Interior

Cooling None

Fireplaces Type None

Fireplace No

Laundry Inside

Exterior

Pool None

Community Features Storm Drain(s), Street Lights, Sidewalks

View Y/N Yes

View Neighborhood

Private Pool No

Building

Dwelling Type House

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Construction Status Fixer

Schools

School District Los Angeles Unified

Others

Senior Community No

Tax ID 2317013004

Acceptable Financing Cash

Listing Terms Cash

Special Listing Condition Standard

Listed by Shira Dunn • Keller Williams Coastal Properties • 424-653-0560

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Jason Tomei

Agent | RE.S.0176035

+1(702) 802-8142

12035 Runnymede ST North Hollywood, CA 91605

Jason Tomei

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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12035 Runnymede ST