13061 Vanowen Street

Description

13061 Vanowen St is a great opportunity to acquire ownership of a 27-unit property located in the heart of North Hollywood. The subject property is strongly located on the signalized hard corner of Ethel and Vanowen. The property features garaged underground parking with 28 spots in total for the 27 units. The currently ownership has upgraded the water heaters, cooper plumbing, roof and painted the property in 2019. This property is not subject to the soft story retrofit ordinance (buyer to do own due diligence). All units are two-bedroom, one-bathroom and the property has substantial rental upside. This is ideal for a value-add investor who is looking to capture the 48% upside in rents. Another way to add substantial value is adding laundry machines in the downstairs warehouse room. The building will be delivered with three unit vacant. There is a vacant rec room that could be turned into a unit, and possibilities for ADU's in the back of the property. Units are large and provide investors with a great footprint to increase value.