7436-7444 Lankershim Blvd, North Hollywood, CA 91605
4,217 SF | 2% Leased | Retail Building | North Hollywood, CA 91605 | $2,199,000 ($521/SF) | 5.48% Cap Rate
For Sale
Active
Asking Price $2,199,000
- Property Type
-
Retail
- Square Feet
- 4,217 SF
- Price / Square Foot
- $521
Listing Contacts
David Nalbandyan
Property Overview
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 5.48% 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 5.48% 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 5.48% 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.
Property Details
- Class
- C
- Year Built
- 1945
- Stories
- 1
- Property Subtype
- Storefront Retail/Residential, Office/Residential
- Lot Size (sq. ft)
- 11,326 SF
Highlights
- Heavy day time foot/car traffic
- Near Metro/bus access, as well as the Bob Hope Airport
- Dual Access to Lot- from Lankershim and Alleyway
All available spaces
- Space
- 1st Floor
- Size
- 4,501,650 SF
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