Developers, here is your next opportunity to build a new construction fourplex 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 FOUR meticulously designed units with a future projected value of $3,400,000!!! The plans on this are next level, combining ultra-sleek design with attention to cost-effective construction (no need for steel or commercial construction, meaning lots of $$$ saved!). The plans feature two freestanding 3-story 5 bed, 5.5 bath homes that we project will obtain $5,200+ a piece in rent, and a duplex containing two 4 bed, 4.5 bath units, each with a projected rent of $4,600. 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 total monthly rent of $19,600, meaning if you buy and hold long-term you're looking at an over 7% cap rate!
This property boasts an unbeatable NoHo location walking distance to Lankershim Blvd (NoHo Arts District’s 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!
