The LAAA Team of Marcus and Millichap is pleased to present 12805 Vanowen Street, a 6-unit apartment building located in North Hollywood, California. Built in 1954, the property consists of four (4 one-bedroom / one-bathroom units and two (2 two-bedroom / one-bathroom units. The building is 4,208 gross square feet, sits on a 6,599 square foot lot,  was fully re-roofed in 2018 and is located in a qualified opportunity zone. The Subject Property offers investors huge value add potential with an estimated 53% upside in rents. In addition, a savvy investor has the potential to convert the car ports in the back of the property to ADUs, generating even greater cash flow. 

The Subject Property is located in the City of North Hollywood. The property is situated south of Sherman Way, north of Victory Blvd, east of Coldwater Canyon Ave, and west of Whitsett Ave. 12805 Vanowen St is located just a few miles away from the newly built NoHo West Shopping Center, Universal Studios, and Hollywood. This asset is near local retail, schools, and the 5, 405, 101 & 170 freeways. Nearby public transportation includes the Metro Red Line, which runs near the 101 Freeway, while the property is also a short drive from the Bob Hope Airport in Burbank.

North Hollywood is experiencing a surge in new construction, with numerous projects underway or recently completed. The neighborhood is attracting developers due to its convenient location in the San Fernando Valley and its status as a transportation hub with access to major freeways and public transit. New apartment buildings and mixed-use developments are rising along busy thoroughfares, offering residents easy access to shops, restaurants, and entertainment. Additionally, many of these new constructions feature eco-friendly and sustainable designs, reflecting a growing concern for the environment and a desire for more energy-efficient buildings. With the increase in new development, North Hollywood is poised to become a more vibrant and dynamic community.