12800 Oxnard St
North Hollywood, CA 91606
Non-Rent Control | All 2 Bedrooms | Remodeled · Multifamily Property For Sale · 3 Units

Marcus & Millichap is pleased to announce the sale of 12800 Oxnard Street, a multifamily triplex situated in the desirable Valley Glen neighborhood of North Hollywood, CA. The property is not subject to rent control, despite its being constructed in 1959, as “substantial renovations” were completed to the building in 1988, resulting in a rent control exemption (Buyer to verify with HCIDLA). The property features an outstanding unit mix, with each unit containing two bedrooms and two bathrooms within floorplans averaging over 1,000 square feet. The property benefits from its location within Valley Glen, just a half mile north of both Sherman Oaks and Valley Village and a short drive from the trendy NoHo Arts District. The current owners are experienced contractors with an impeccable reputation who have applied significant upgrades to the unit interiors. Each unit contains new flooring, new granite countertops, new stainless steel appliances, and new bathrooms with updated vanities and showers. Most major systems have been updated, including a new water heater, new electricpanels, mostly new copper plumbing, a new sprinkler system, and new landscaping. The units also feature central air, fireplaces, and patio space, plus carport parking for four vehicles. On-site laundry equipment is owned by the landlord and provides an investor with an additional income stream. Just one block west of the property is the Tujunga Green Belt, a public greenspace that runs along the Tujunga Wash and houses the historic Great Wall of Los Angeles art installation. One block beyond that lies Los Angeles Valley College and Ulysses S. Grant High School. Tenants enjoy convenient access to the 170 Freeway via the Oxnard on-ramp one mile east, while the 101 Freeway is less than two miles south along Coldwater Canyon Avenue. At the corner of Oxnard Street and Laurel Canyon Boulevard, only one mile from the property, a large mixed-use development is currently under construction on the 25-acre site that formerly housed a Macy’s. Dubbed “NoHo West”, the project will include 642 apartments, more than 50 restaurants and shops, office space, a grocery store, a gym, a movie theater, and more than two acres of open space. This site, being developed by Melone Geier Partners and GPI Companies, is expected to be completed by Fall 2019.