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10761 Burbank Blvd 3,824 SF 100% Leased Retail Building North Hollywood, CA 91601 $1,245,000 ($325.58/SF) 5.26% Cap Rate
Investment Highlights
- Mixed Use Asset featuring retail, 6 executive offices, and four studio apartments at the corner of Burbank & Riverton Ave in North Hollywood
- Current CAP rate 5.26% | Pro Forma CAP of 8.13% which includes a $149,480 improvement budget
- Under the Adaptive Reuse Ordinance it makes it significantly easier to convert underutilized commercial buildings like vacant offices into housing
- Value-add opportunity with potential to expand residential units or convert offices to apartments
- Six on-site parking spaces (1.57/1,000)
Executive Summary
The City of Los Angeles is expanding its Adaptive Reuse Ordinance (ARO) to make it significantly easier to convert underutilized commercial buildings—especially vacant offices—into new housing. The update modernizes the original 1999 ARO, which helped create more than 12,000 units in Downtown LA, and now applies citywide. This property falls within this option and more details can be found at: https://planning.lacity.gov/odocument/6725f347-7fdb-42fa-aa6e-44c37f8fa999/Fact_Sheet_-_Adaptive_Reuse_Ordinance.pdf
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
3,824 SF
Building Class
C
Year Built
1955
Price
$1,245,000
Price Per SF
$325.58
Cap Rate
5.26%
NOI
$65,487
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.63
Lot Size
0.14 AC
Zoning
C2 - commercial
Parking
6 Spaces (1.57 Spaces per 1,000 SF Leased)
Frontage
119’ on burbank Blvd
Amenities
- 24 Hour Access
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 2415-018-013 | Improvements Assessment | $341,508 |
| Land Assessment | $656,753 | Total Assessment | $998,261 |
Property Taxes
Parcel Number
2415-018-013
Land Assessment
$656,753
Improvements Assessment
$341,508
Total Assessment
$998,261
Contacts
-
Brin Hamblin -
Joshua Yaris -
Ryan Rothstein-Serling -
Martin Agnew -
Agnew | Serling Group
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10761 Burbank Blvd
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