4710 Colfax Avenue
4710 Colfax Avenue
$2,200,000
16
15
7,532
7,532
$292
Active Under Contract
Description
Marcus and Millichap is proud to present the opportunity to acquire 4710 Colfax Avenue, a timeless 8-unit apartment community set in a highly accessible pocket of North Hollywood. Located amongst a diverse set of single family homes, high-end condominiums, and low-density multifamily buildings, the property offers renters a special mix of a suburban and urban landscape. The property lies less than a ten-minute drive to Toluca Lake, Sherman Oaks, Valley Village, and Studio City. The property sits...Marcus and Millichap is proud to present the opportunity to acquire 4710 Colfax Avenue, a timeless 8-unit apartment community set in a highly accessible pocket of North Hollywood. Located amongst a diverse set of single family homes, high-end condominiums, and low-density multifamily buildings, the property offers renters a special mix of a suburban and urban landscape. The property lies less than a ten-minute drive to Toluca Lake, Sherman Oaks, Valley Village, and Studio City. The property sits just minutes from the 101 and 170 intersection providing renters with swift access to Downtown Los Angels, Hollywood, Burbank, and other major employment hubs of L. A. County. Renters enjoy the close proximity to the world class amenities of the North Hollywood Arts District, Studio City's Silver Triangle and the endless array of shops and restaurants along Ventura Blvd in Sherman Oaks just a few miles away. The property boasts a great walk score of 78 allowing most errands to be accomplished without the need for a car. The property improvements are comprised of an approximately 7,532 +/- square foot wood frame and stucco structure on a roughly 9,800 square foot lot. The property features an outstanding unit mix of one (1 bed +1 bath ), six (2 bed +1.5 bath ), and one (3 bed + 2 bath) units. The current ownership has taken pride in the property's upkeep and made significant upgrades to select units including recessed lighting, updated flooring, A/C wall units, fans, bathroom and kitchen tiles. The property features one parking spot per unit. The soft story retrofitting work has been completed (Buyer to verify). The demographics of the surrounding area are highly compelling with a population over 36,000 and an average household income over $120,000. A new Buyer has the opportunity to achieve massive rental upside as market rate rents are achieved through unit turn over and rental increases. North Hollywood continues to see massive levels of investment including the planned District NoHo project which is expected to include 1,500 new apartments, office, and retail. Unit #7 is currently occupied and rented at $1,634 and the Seller is pursuing an eviction and the unit may be coming vacant. Estimated rental rate for unit #7 is $2,400. Buyer to investigate and verify all claims including vacancy and rent projections.
Property Details for 4710 Colfax Avenue
Zoning
LARD1.5
Parcel Number2354017003
Total Units8.0
Living Area7532
Source Living AreaVendor Enhanced
AreaNorth Hollywood (NHO)
Vacancy Rate5626
Lot Size Area9803
Location
LISTING UPDATED: 05/14/2024 02:04 PM
Property Details for 4710 Colfax Avenue
Status | Active Under Contract |
---|---|
MLS # | 24-386419 |
Days on Market | 23 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1963 |
Lot Size | 0.23 AC / 9,803 SF |
County | Los Angeles County |
Location
Building Information for 4710 Colfax Avenue
Stories2Residences-Year Built1963Building Size-Lot Size0.23 AC / 9,803 SF
Payment Calculator
$12,936 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 4710 Colfax Avenue
Property History for 4710 Colfax Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 4710 Colfax Avenue
Taxable ValueLand$327,950Additions$491,932Total$819,882
Tax Record2023$11,158 ($930 / month)
Home Facts
Total Finished SqFt7,532 SqFtAbove Grade Finished SqFt7,532 SqFtLot Size9,800 SqFtStyleMulti-Family Res (5+ Units)ZoningLARD1.5CountyLOS ANGELESAPN2354-017-003
Schools near 4710 Colfax Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Charter - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Colfax Charter Elementary School CharterK to 5 | ||
Walter Reed Middle School Public6 to 8 | ||
North Hollywood Senior High School Public9 to 12 | ||
Amelia Earhart Continuation School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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