$ 2,495,000
11143 Aqua Vista ST North Hollywood, CA 91602
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$ 2,495,000
Est. payment /mo
Price Dropped by $105K
11143 Aqua Vista ST North Hollywood, CA 91602
10 Baths
6,895 SqFt
UPDATED:
10/15/2024 09:07 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,895 sqft
Price per Sqft $361
MLS Listing ID 24445111
HOA Y/N No
Year Built 1957
Lot Size 8,533 Sqft
Acres 0.1959
Property Description
We are proud to present The Pink Flamingo, a classic 10-unit multifamily property located at 11143 Aqua Vista Street in the highly desirable Studio City neighborhood. This property is subject to LA City's Rent Control (RSO), and this is the rst time the property has been listed for sale in over 35 years.Built in 1957, this Mid-Century Modern dingbat-style building consists of 8 one-bedroom, one-bath units and 2 two-bedroom, one-bath units. All units are currently occupied with all tenants paying their rent in full and on time. Furthermore, this investment offers a buyer the opportunity to capitalize on nearly 35% upside potential in rental income.The property spans 6,895 square feet on a lot of 8,531 square feet and includes on-site amenities such as a pool, laundry facilities, parking, and air conditioning in most units. Recent upgrades to the property include a brand new 400 AMP electrical system with subpanels for each unit, soft-story retrotting completed in 2018, and a full roof replacement in 2017, ensuring a solid investment for the future.Most units have been carefully restored, showcasing gleaming solid hardwood oors, designer kitchens with gray cabinets, quartz countertops, and vintage-inspired pink and gray bathroom tiles. The property maintains its Mid-Century charm while offering modern conveniences like updated appliances, instant hot water, and ample closet space. With a strong walkability score of 71, tenants will enjoy the proximity to popular destinations such as Universal Studios, Warner Brothers, and trendy Tujunga Village, which boasts a variety of restaurants, cafes, and boutique shops.The Studio City location makes The Pink Flamingo an attractive investment for potential buyers. Known for its blend of quiet residential streets and easy access to major freeways and entertainment hubs, this area is ideal for tenants seeking a balance of suburban tranquility and urban convenience. Its proximity to major studios, along with the appeal of the surrounding upscale neighborhoods, ensures a steady demand for rentals, making it a stable and lucrative investment opportunity.
Location
State CA
County Los Angeles
Area Stud - Studio City
Zoning LAR3
Interior
Fireplace No
Exterior
Garage Covered
Parking Type Covered
Total Parking Spaces 10
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2366018004
Special Listing Condition Standard
Listed by Filip Niculete • Marcus & Millichap