NOT LISTED FOR SALE

11500 Riverside Dr Unit 3 Los Angeles, CA 91602

6 Beds
5 Baths
3,622 Sq Ft
4,547 Sq Ft Lot

Last Sold October 05, 2023

Last sale price $1,450,000 $400 Per Sq Ft

64 Days on Market

About This Home

As of October 2023

Pleased to present 11500 Riverside Dr, a 5-unit apartment building located in North Hollywood, CA. Built in1955, the property has one (1) two bedroom-one bathroom unit, two (2) units with one bedroom-one bathroom-plus yard, and two(2) units with one bedroom-one bathroom. The building is 3,622square feet and sits on a 4,547 square foot corner lot. In the back of the property there are two garages totaling 4 parking spaces that are in owner control and not leased to any tenants. The owners will lease back the garages for $1,100 a month on a month-to-month basis if buyer desires. These garages offer the ability to rent them out as garage income or the ability to convert to at least one ADU if the buyer wanted, adding to the unique upside potential. Laundry is on site on the first floor of the building. The subject property is located in a charming neighborhood of single-family homes and is a mile away from the NoHo Arts District. With close proximity to the 101 and 170 freeways, 11500 Riverside Dr can also offer residents connectivity to the rest of Los Angeles. 11500 Riverside Dr represents a unique value-add opportunity for investors due to the property's location, unit mix and possibility for ADUs. A savvy investor can grow this 5-unit corner property into a 6-unit gem in one of the most development dense and fastest growing pockets of Los Angeles. The property was issued a certificate of compliance in March 2023 for LA City's soft story retrofit requirement.

Last Agent to Sell the Property

Jeff Louks

Marcus & Millichap License #00908473 Listed on: 07/17/2023

Co-Listed By

Greg Shindler

Marcus & Millichap License #02083460

Last Buyer's Agent

Jefferson Hendrick

Equity Union License #01409501

Equity Union

Property Details

Home Type

  • Multi-Family

Lot Details

  • 4,547 Sq Ft Lot

Parking

  • 4 Car Garage

Home Design

Interior Spaces

  • 3,622 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Bathrooms

Community Details

  • 5 Units

Listing and Financial Details

  • Assessor Parcel Number 2354-015-043

Property Details

Home Type

Multi-Family

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 3622
  • Lot Acreage: 0.1044
  • Stories: 2
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 6
  • Total Bathrooms: 5.00
  • Price Per S Q F T: 405.85

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Garage
  • Total Parking: 4

Lot Info

  • Assessed Improvement Percent: 54.55
  • Assessed Improvement Value: 600000
  • Assessed Land Percent: 45.45
  • Assessed Land Value: 500000
  • Total Assessed Value: 1100000
  • Assessor Parcel Number: 2354-015-043
  • Lot Size Area: 4547

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 15.75
  • Number Of Units: 5
  • Type Of Units: Apartments

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/05/2023 10/05/23 Sold $1,450,000 -1.4% $400 / Sq Ft
09/19/2023 09/19/23 Pending -- -- --
08/23/2023 08/23/23 Price Changed $1,470,000 -6.1% $406 / Sq Ft
07/17/2023 07/17/23 For Sale $1,565,000 -- $432 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jeff Louks

    Seller's Agent in 2023

    Jeff Louks

    Marcus & Millichap

    (818) 212-2700

    9 in this area

    67 Total Sales

    Jeff Louks
    Section Image
  • Greg Shindler

    Seller Co-Listing Agent in 2023

    Greg Shindler

    Marcus & Millichap

    (310) 903-7667

    2 in this area

    4 Total Sales

    Greg Shindler
    Section Image
  • Jefferson Hendrick

    Buyer's Agent in 2023

    Jefferson Hendrick

    Equity Union

    (323) 251-7883

    2 in this area

    24 Total Sales

    Jefferson Hendrick
    Section Image

  • R

    Buyer Co-Listing Agent in 2023

    Reza Farahan

    Keller Williams Hollywood Hills

    (323) 461-8822

    1 in this area

    5 Total Sales

    Reza Farahan
    Section Image
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Map

Source: The MLS

MLS Number: 23-291623

The MLS
California Los Angeles County Los Angeles 91601

11500 Riverside Dr Unit 3, Los Angeles, CA

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