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12035 Runnymede Street

North Hollywood, CA 91605

$1,985,000

List Price

1

bed Beds

1

shower Baths

848 sqft

straighten / sqft

1926

calendar_month Built

Property Description

12035 Runnymede presents an exceptional opportunity for investors with a fully RTI-approved 72-unit development spanning 37,800 SF on a 15,053 SF lot. Ready for immediate construction, the project is 100% affordable housing, with the seller covering the plan permit costs. The four- story building features 66 one-bedroom units (average 437 SF) and 6 studio units (average 318 SF), designed to meet the growing demand for affordable housing in a high-density area. With an estimated minimum annual rental income of $1,854,120 (per Schedule 6-HCD & Schedule 1- HUD), this project offers a strong return potential. Residents will benefit from thoughtfully designed building amenities, including a 2,800 SF rooftop deck, a recreation room, laundry facilities, an office, and a bicycle room. Designed to embrace the L.A. lifestyle, the project features rooftop spaces that capture breathtaking city lights and sunset views. Strategically located just off Laurel Canyon Blvd between Sherman Way & Saticoy St, the property boasts a Walk Score of 73, offering convenient access to local amenities and public transportation. Its central location, just blocks from the 170, 5, and 101 freeways, ensures seamless connectivity throughout Los Angeles. Located in a densely populated area with over 36,000 residents within a one-mile radius, this project meets a critical housing need while providing an outstanding investment opportunity. Whether you're a seasoned investor, a developer looking for your next project, or a buyer aiming to add high-demand rental units to your portfolio, this is an exceptional opportunity to capitalize on North Hollywood's thriving rental market.

Listing Information

List Price $1,985,000
Status Active
MLS SR25020768
HOA $0
Type Residential
Subtype Single Family Residence
Year Built 1926
Lot Size 15,053
Structure Size 848
DOM 2
Courtesy Of Keller Williams Coastal Properties
Listing Agent Shira Dunn DRE#02100807

Interior Features

Laundry Information
Location(s) Inside
Total Bedroom
Bedrooms 1
Total Bathroom
Bathrooms 1
Fireplace Information
Features None
Cooling Type
Cooling Type None

Exterior Information

Maps

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Listing information courtesy of: Shira Dunn, Keller Williams Coastal Properties . *Based on information from the Association of REALTORS/Multiple Listing as of Jan 30th, 2025 at 2:59 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.