We are pleased to present for sale 10931 Bloomfield Street, a 6-unit multifamily investment opportunity in North Hollywood. Built in 1960 on a 9,202 square foot lot, the improvement totals 6,132 square feet and has undergone upgrades to the roof, decking, asphalt, electrical, and plumbing in recent years. Building amenities include an on-site laundry facility and six (6) covered car-port parking spaces in the rear, which do not require seismic retrofitting. A future investor might explore the opportunity to add an ADU by converting the carport area or by building new carports with an ADU(s) on top. (Buyer to independently verify all upgrades and ADU information) The unit mix consists entirely of three-bedroom and one-half bathroom units with the average unit size over 1000 square feet. The property is 100% occupied and collections have been 100% throughout Covid. Being in the same family since the mid-90s, units have received various upgrades or renovations, however all of the units would benefit from a more extensive renovation program that could help capture approximately 60% upside in rents. North Hollywood is a highly desirable community that has seen a lot of gentrification and development, causing rental rates to increase and vacancy levels to decline. The surrounding area is centrally located with easy access to public transportation and a variety of shopping centers, restaurants, entertainment studios, auto dealerships, and schools.
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