4
$394.08
$612,500
5.29%
14.13
5.65%
13.43
The LAAA Team of Marcus & Millichap is proud to present 12000 Runnymede Street, a unique opportunity where the front house, built in 1931, has been completely gutted and renovated in 2020. Furthermore, the seller just finished construction on an additional three units, built in 2020, just behind the original house, making this property completely turn-key.
12000 Runnymede is made up of a fully renovated, 1,945 Sq.Ft. 2-story 5-bed / 3-bath house and three brand new 1,424 Sq.Ft. 3-story 3-bed / 2-bath, side-by-side town-home style units with a private 2 car garage, in-unit washer/dryer and spacious floor plans.
For an unbeatable price of $2,450,000, an investor can realistically expect a 5.29% Cap Rate! With today's low interest rates, an investor is projected to achieve more than a 5.58% cash-on-cash return with a down payment of$490,000. Furthermore, since this offering is four units, an investor can take advantage of residential financing, fixed for up to 30 years!
Also notable is the fact that this property is in a California Opportunity Zone, which means the immediate area is expected to be gentrifying greatly in the near future.
This offering is ideal for the buyer who wants a pride of ownership, brand new construction property with very little maintenance or expenses, in a dense rental pocket of North Hollywood.
