Listing Detail

IAG

11611 Burbank Blvd., North Hollywood, CA 91601

11611 Burbank Blvd.JPG

Probate Sale. Subject to Court confirmation and overbidding in Court. For sale AFTER 37 years! Excellent opportunity to own 3 units, with potential to legalize the 4th unit in the back. Owner started the work on converting the garage into a 4th unit, but did not do it with permits. One of the existing legal 1 bedroom units is currently vacant, and will be delivered vacant at close of escrow. Large two-story owner's unit (3 bedroom 2 bath) in the front, is currently occupied by a family member, who is not paying any rent, not cooperating with the sale, and/or providing access to the property. To the best of the Court appointed Administrator's information, there is no lease agreement, with the subject family member. Sale is subject to buyer(s) taking the property AS IS, with the current occupant(s), and assuming all responsibilities of dealing with the occupant(s) after the close of escrow. One of the 1 bedroom unit is leased to a long-term Section 8 tenant at $983 per mo. Financials are Projected, assuming market rent for the Owner's unit (=$5,000/mo.), and the vacant unit (=$1,500/mo.). All units separately metered for gas and electricity. Low maintenance. Each unit has its own separate water heater and washer & dryer hook-up. Property is priced to sell based on the issues involved. Desirable North Hollywood location, close to NoHo Arts district, and easy access to I-101, I-170, & I-134. Property is being sold AS IS and WHERE IS with current occupants in place. Seller is a Court appointed fiduciary and cannot make any representations as to the condition, history of the subject property. Buyer to conduct their own investigations.bDrive by only for now. Do not disturb current occupant(s). Any and all personal items belonging to the occupant(s).

Property Highlights
Street 11611 Burbank Blvd
City North Hollywood
State CA
Zip 91601
Status Available
Property Type Multi-family
Asking Price $1,200,000.00
Year Built 1949
Building Sq Ft 3,034
Number of units 3
CAP Rate 4.59%
GRM 14.48
Value per Square Feet $395.52
Broker Name Vinny Jain
Telephone (310) 207-2288
Email sales@iagpm.com
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