11744 Runnymede Street

North Hollywood, CA 91605

$8,749,999
Price
6
Beds
56
Baths
36,408 Sq. Ft.
$240 / Sq. Ft.
36,408
Sq. Ft.
$240
per Sq. Ft.

Description

Runnymede Holiday Apartments presents opportunity to acquire a desirable garden style 40-unit complex consisting of open, low-density grounds and attractive low-maintenance construction consisting of an ideal (12) 1 bedroom / 1 bath units at 650 sqft, (20) 2 Bedroom / 1 bath units at 950 sqft, and (8) 3 bedroom / 2 bath units at 1200 sqft. The property does not possess any decks, tuck-under parking, or exterior catwalks, thereby removing large capital expenditure items for long-term operations. Current...Runnymede Holiday Apartments presents opportunity to acquire a desirable garden style 40-unit complex consisting of open, low-density grounds and attractive low-maintenance construction consisting of an ideal (12) 1 bedroom / 1 bath units at 650 sqft, (20) 2 Bedroom / 1 bath units at 950 sqft, and (8) 3 bedroom / 2 bath units at 1200 sqft. The property does not possess any decks, tuck-under parking, or exterior catwalks, thereby removing large capital expenditure items for long-term operations. Current GSI: $791,876 Full Market GSI: $1,257,990 In-place NOI: $482,331 Proforma NOI: $870,257 The grounds consist of mature vegetation, open walkways, a picnic and playground area, a large onsite laundry facility, and fully gated grounds and parking. Vegetation within the complex consists of mature roses, eucalyptus trees, succulents, and Hibiscus trees, providing a pleasant atmosphere for tenants to help boost the ultimate rent potential and reduce turnover. Renovations: Roughly 18-20 units are partially renovated including: new flooring, refinished cabinets & hardware, new countertops, new appliances, new bathroom shower tub enclosures and paint throughout. 3-4 units at the property are fully renovated, which includes all items of the partially renovated units plus new shaker cabinets and new bathroom vanity(s). Ownership has been able to achieve rents north of $2,000 for the 1 bedrooms and north of $2570+ for the 2 bedrooms. On a granular location basis, the asset parcel is well located between a beautiful nursery and low-density multifamily complex within 0.1 Miles of two new construction institutional grade Multifamily complexes showcasing a bullish microeconomic drive in the immediate pocket
  1. Listed by Maxwell Brown • DRE #02127395 • Brokerage DRE #02077455 • Commercial Asset Advisors • mbrown@caacre.com

Property Details for 11744 Runnymede Street

Parking Spaces Total
0
Private Pool
No
Total Units
40.0
Building Type
Attached
Lot Size Source
Public Records
Living Area
36408
Assessor Parcel Number
2317-017-020
Property Attached YN
true
LISTING UPDATED: 10/14/2024 09:39 AM

Property Details for 11744 Runnymede Street

StatusActive
MLS #PTP2405347
Days on Market50
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1970
Lot Size1.37 AC / 59,677 SF
CountyLos Angeles County

Building Information for 11744 Runnymede Street

Stories2Residences-Year Built1970Building Size-Lot Size1.37 AC / 59,677 SF

Property Information for 11744 Runnymede Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $811,799
  • Gross Scheduled Income: $811,799
  • Net Operating Income: $495,491
  • Gross Multiplier: 10.78
  • Cap Rate: 5.66
Expense Details
  • Operating Expense: $304,131
  • New Taxes Expense: $110,157
  • Fuel Expense: $16,265
  • Electric Expense: $3,867
  • Insurance Expense: $19,912
  • Professional Management Expense: $35,363
  • Trash Expense: $13,570
  • Water Sewer Expense: $47,351
  • Total Expenses: $304,131
Tax / Assessment Info
  • Tax Tract Number: NA
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 2317-017-020
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: street
  • Fence: No
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 36-40 Units/Acre
  • Number Of Units: 40
  • Land Lease: No
  • Land Lease Type: Fee
  • Sewer: Public Sewer
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 12
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,344
  • Unit Type Total Rent: $1,344
  • Unit Type Pro Forma: 1950
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 20
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,648
  • Unit Type Total Rent: $1,648
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 12
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,610
  • Unit Type Total Rent: $1,610
  • Unit Type Pro Forma: 3200
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 5
  • Number Of Separate Electric Meters: 41
  • Number Of Separate Gas Meters: 41
  • Number Of Separate Water Meters: 1

Property History for 11744 Runnymede Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 11744 Runnymede Street

Taxable ValueLand$3,893,271Additions$1,766,856Total$5,660,127
Tax Record2024$73,114 ($6,093 / month)
Home Facts
Total Finished SqFt36,408 SqFtAbove Grade Finished SqFt36,408 SqFtLot Size59,521 SqFtStyleMulti-Family Res (5+ Units)Year Built1970ZoningLAR3CountyLOS ANGELESAPN2317-017-020

Schools near 11744 Runnymede Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 12
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
Julie Korenstein Elementary School
PublicK to 5

John H. Francis Polytechnic
Public9 to 12

ISANA Cardinal Academy
CharterK to 8

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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11744 Runnymede Street is a multi-family home for sale in North Hollywood, CA 91605. This property was listed for sale on August 29, 2024 by Commercial Asset Advisors, it's currently listed at $8,749,999. It has been on the market for a total of 50 days and was last sold on January 24, 2007. This listing's school district is Los Angeles Unified School District. Nearby schools include Julie Korenstein Elementary School, Sun Valley Engineering And Technology Magnet and John H. Francis Polytechnic. 11744 Runnymede Street is a 6-bed, 56-bath, 36,408 sqft multi-family home built in 1970.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Commercial Asset Advisors, Maxwell Brown, DRE #02127395

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.