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Listed by Filip Niculete - DRE #01905352 - Marcus & Millichap 818-212-2700 Listing Courtesy of: DRE #01962976

$2,600,000

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11143 Aqua Vista Street North Hollywood, CA 91602

Cluster Residence

Beds

10 Baths

6,895 Sq. Ft.

0.2 Acre Lot

Property Activity

Time on Site

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Last updated on 9/27/2024 12:28 PM

Listing Details

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 first 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. Continue reading

MLS#

24445111

Property Type

Cluster

Status

Bathrooms

Year Built

1957

Square Feet

6,895 sq. ft

Lot Size

0.2