Developers, here is your next opportunity to build a new construction 5-unit in NOHO ARTS! 11334 Tiara St is an SB-8 EXEMPT, NON-RENT CONTROLLED, 7,002 square foot flat lot that is being delivered with RTI plans for FIVE meticulously designed units with a unit mix destined to bring in maximum return upon completion. With three 5 bedroom, 5 bathroom units and two 4 bedroom, 4.5 bathroom units, we predict gross annual rent of $290,400 and a future sales price of $3,850,000.These expertly designed plans will be impressive to both future tenants and future buyers- making this a brilliant investment whether you build and hold or build and sell. Upon completion of the construction, we project a savings of close to $900,000 off retail price.This property boasts an unbeatable NoHo location walking distance to Lankershim Blvd (NoHo Arts Districts main hub) and NoHo West, a massive mixed-use development with Trader Joes, Regal Cinema Movie Theater, LA Fitness, The Stand, Ulta Beauty, Starbucks and more. NoHo is the hottest rental market in the Valley- and this highly walkable location will make for low vacancy and ideal tenants for years to come!
BB24057054
Land, Other
Los Angeles
0.1608
Acres
None
Water Not Available
Exterior / Lot Features
- Parking
- 0 Covered Parking Spaces.
- Lot View
- Other
- Zoning
- LARD2
- Additional Exterior/Lot Features
- Rectangular Lot,Value In Land.
Financial Considerations
2337012008
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