Est. cap rate

4.0%

Assumed rent, all units

$8,680/mo

Units

4

Price per unit

$325,000

Est. annual NOI

$52,080

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Quadruplex

Bedrooms

4

Building size

2,420 sqft

Lot size

9,003 sqft

Year built

1949

Stories

1

Garage spaces

4

Heating

Central

Cooling

Central Air

Pool

None

Status

Active

Days on market

7

MLS #

245188883

About this property

Attention investors, builders, and developers! Four-plex rare opportunity on a corner lot 9,000 Sqft. Zoning LARD3-1, with an incredible opportunity to build up to 18 units, or you can choose to build 4 ADUs. Currently, there are a total of 4 units, each offering 1 bed and 1 bath. Each unit has an electrical and gas meter. Tenants are on a month-to-month lease. Per seller, there are two two-car garages, one rented at $500 a month, plus an extra monthly income for parking, tenants are not entitled to parking. With in-place rents below projected market levels, the asset offers immediate and long-term upside through rent growth, improved operations, and strategic repositioning. The property’s most compelling value-add is in the zoning and the large corner lot, providing you a huge opportunity to construct an additional four ADUs or start building a new 14,400 Sqft. complex with 18 units and 36 bedrooms! Just minutes from the Bob Burbank Airport, Hollywood, Universal Studios, and the newly built NOHO West Shopping Plaza; is one of the area's latest developments where you can find the Regal movie theatre, Trader Joe’s, Starbucks, restaurants, boutiques, etc. Per Zimas.lacity.org, the property is an "Eligible Site ED 1" and may be applied to a shelter or 100% Affordable Housing Project on the site (TOC). Eligible projects receive expedited processing, clearances, and approvals through the ED 1 Ministerial Approval Process. Please check with LADBS for the approved 2026 ADU California laws.

Location

6944 Radford

North Hollywood, Los Angeles, CA, 91605