10847 Morrison StLos Angeles, CA 91601

Property Details for 10847 Morrison St

Year built

2024

Property size (Sq ft)

10,242 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 2024-built, three-story apartment building in desirable North Hollywood, CA presents a compelling investment opportunity. Boasting 10,242 square feet on a 7,914 square foot lot, the property features six units, including five standard units and an ADU, all with in-unit washers/dryers, private patios/decks, and private garages. The townhouse-style units offer spacious floor plans designed to maximize rental potential, catering to a diverse range of tenants. Located in a vibrant area with easy access to entertainment, dining, and cultural attractions, this property benefits from a prime location and strong rental demand. The building's modern design and energy efficiency translate to minimal maintenance costs and high appeal to renters. With a 5.60% cap rate and a net operating income (NOI) of $257,782, this property offers a strong return on investment. The asking price is $4,600,000, with a price per unit of $766,666.67 and a price per square foot of $449.13. The property is zoned LARD1.5 and has an APN of 2419-005-027. This is a turnkey investment ready for immediate income generation. The property's modern amenities, spacious layouts, and desirable location combine to create a highly attractive rental property with significant long-term appreciation potential.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.161

Longitude

-118.368

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