Noho Park West

09-16-2022
09-26-2022

11311 Morrison St, North Hollywood, CA 91601

  • Well maintained twenty-seven (27) unit apartment building in the trendy NoHo Arts District
  • Built in 2002: not subject to LA City Rent Control (only subject to California State Rent Control)
  • Favorable unit mix consisting of (8) 1 bed/1 bath units, (4) 1 bed/1 bath plus loft units and (15) 2 bed/2 bath units
  • Each unit is individually metered for water, gas and electric - Providing tremendous savings in annual operational cost for ownership
  • Units feature central heat/air-conditioning, washer/dryer Hook Ups, wood-like floors, oversized closets and private balconies (select Units)
  • Building features bbq grill/picnic area, leasing office, secure gated access, subterranean parking and an on-site laundry facility

Property Description

Marcus & Millichap is pleased to present NoHo Park West, a well maintained twenty-seven (27) unit apartment building located at 11311 Morrison Street in the highly sought-after NoHo Arts District neighborhood of North Hollywood, California. Built in 2002, the property is not subject to LA City Rent Control (only subject to California State Rent Control). The building features a favorable unit mix consisting of (8) 1 bed/1 bath units, (4) 1 bed/1 bath plus loft units and (15) 2 bed/2 bath units. Units feature central heat/air-conditioning, washer/dryer, stainless steel appliances, stone counter tops, wood floors, oversized closets and private balconies. Each unit is individually metered for water, gas and electric which is a tremendous savings in annual operational cost for a new owner. The building features bbq grill/picnic area, leasing office, secure gated access, subterranean parking and an on-site laundry facility. The 23,092 square foot building sits on a 14,950 square foot lot that is LAR4 zoned.
NoHo Park West is located in the trendy NoHo Arts District Neighborhood, one of the strongest rental submarkets in Southern California. NoHo Park West features a Walk Score of 89 (Very Walkable) as it is in close proximity to grocery stores (Amazon Fresh – 3 blocks away), hip cafes, gastropubs, restaurants, coffee shops, chic retail and art galleries. The location also provides residents with excellent accessibility to employment in surrounding areas such as Burbank, Glendale, Sherman Oaks and Encino. The property is located just 0.7 miles to the Metro Red Line/Orange Line North Hollywood Station and is just blocks away from the 101, 134 and 170 freeways.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
No. of Units
27
Cap Rate
4%
GRM / GIM
15.3
Year Built
2002
Building Size
23,092 Sq ft
Lot Size
14,950 sq ft
No. of Stories
4
APN
2353-014-062
Opportunity Zone
No
Price per unit
$ 0
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34.161207, -118.377949

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