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12035 Runnymede St
North Hollywood, CA 91605

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Property Details


List Price: $3,950,000
Beds: --
Baths: --
Status: Active
SqFt: --
Agency: Keller Williams Downtown LA

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Description/Comments


Lot Size: --
Property Type: Lots And Land
Year Built: --
Notes: The development will be delivered 76 units RTI fully entitled, 66 1's, 6 studios, 1 Bed ADU and 3 single ADUs, with 4 story stack construction and is located in an opportunity zone. Most recently LADWP has approved service. The permit fees will be paid by the Buyer. The property is entitled with no parking. There are no off site requirements, no school fees (save $200,000), no linkages, and no relocation fees. Due diligence includes, Blueprints and plans, HACLA guidance, GC bids, Soils reports, Developers Proforma analysis, Brokers Development analysis, Methane report, Letter of Determination, Preliminary Zoning Assessment from City with approval for 76 units, and the Prelim. Understanding the orientation of the land is critical as the overhead power lines run away from the development site and there are fully occupied apartments nearby which are much closer to these overhead lines. The total yearly forecasted rent is $2.05 mil per yr. on an estimated projected cost basis of $15 mil including the land and entitlement and hard and soft construction costs.
MlsNumber: 24-375373


Listing Provided By: Keller Williams Downtown LA, original listing
Name: Keller Williams Downtown LA
Phone: (213) 797-7000
Office Name: Keller Williams Downtown LA
Office Phone: (213) 797-7000
Agent Name: Michael R. Fukushima
Disclaimer: Copyright © 2024 TheMLSCLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


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