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5315 Laurel Canyon Blvd , #101

North Hollywood, CA 91607
  • $4,250,000
  • STATUS: Active
  • ON SITE: 69 days
  • MLS #: 21-732100
UPDATED: 10 min ago
$4,250,000
  • 0
    BEDS
  • 0.3
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Description

A 10,050 square foot two-story low-rise office building situated on 13,137 square feet of land located one block south of the signalized corner of Laurel Canyon Blvd and Chandler Blvd in Valley Village. The property is located one block north of the corner of Magnolia Blvd and Laurel Canyon Blvd. This well-located asset is very walkable, with a high walk score of 87, and is located within close proximity to transit with a good transit score of 52.5315 Laurel Canyon will be delivered with two vacant suites. The occupied spaces are long-time tenants operating under short term leases. Lease expiration dates are staggered in the upcoming years, with one of the longest leases coming due in 2023, providing for tremendous upside. With an average rent per square foot of $1.73, this asset provides an investor huge value-add potential when looking at the current average rent in this asset, creating potential for rental upside at lease roll-over. With short-term tenants, many of them being month-to-month, this is an ideal opportunity for an owner use to occupy a portion or all of the building. The subject property is centrally located in the high-end densely populated east San Fernando Valley sub-market of North Hollywood, just blocks south of the new NoHo West Development.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-23T19:43:20.65. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.markwiseproperties.com/homes/117235047
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5315 Laurel Canyon Blvd , #101 North Hollywood, CA 91607

  • Price: $4,250,000
  • Status: Active
  • Updated: 10 min ago
  • MLS #: 21-732100
0
Beds
0
Baths
0
½ Baths
0.3
Acres
Neighborhood:
Valley Village
County:
Los Angeles
Area:
Valley Village
Property Description
A 10,050 square foot two-story low-rise office building situated on 13,137 square feet of land located one block south of the signalized corner of Laurel Canyon Blvd and Chandler Blvd in Valley Village. The property is located one block north of the corner of Magnolia Blvd and Laurel Canyon Blvd. This well-located asset is very walkable, with a high walk score of 87, and is located within close proximity to transit with a good transit score of 52.5315 Laurel Canyon will be delivered with two vacant suites. The occupied spaces are long-time tenants operating under short term leases. Lease expiration dates are staggered in the upcoming years, with one of the longest leases coming due in 2023, providing for tremendous upside. With an average rent per square foot of $1.73, this asset provides an investor huge value-add potential when looking at the current average rent in this asset, creating potential for rental upside at lease roll-over. With short-term tenants, many of them being month-to-month, this is an ideal opportunity for an owner use to occupy a portion or all of the building. The subject property is centrally located in the high-end densely populated east San Fernando Valley sub-market of North Hollywood, just blocks south of the new NoHo West Development.
Exterior Features

Lot Location City Lot Size Area 13137 View Description City View YN Yes

Property Features

Cable YN Yes Electric On Site Potential Usage Multi-Family And Mixed Use Allowing For 32 Buildable Units By-Right And Up To 57 Buildable Units With increased Density Based On The Tier 3 Toc Benefi Present Use Office Building Sale Type Standard Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Zoning [Q]C2-1VL

Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-23T19:43:20.65. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Mark Wise | Bennion Deville Homes
71691 Highway 111
Rancho Mirage CA, 92270