28
See all 28 photos
$4,200,000
Est. payment /mo
20 Beds
16 Baths
9,104 SqFt
New
11408 Sarah ST North Hollywood, CA 91602
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 9,104 sqft
Price per Sqft $461
MLS Listing ID 26105094
Bedrooms 20
HOA Y/N No
Year Built 2019
Lot Size 9,578 Sqft
Property Description
11408 Sarah Street is a 10-unit multifamily property built in 2019 and located in Studio City near the Toluca Lake border. As newer construction, the property is exempt from the Los Angeles Rent Stabilization Ordinance (RSO) and AB 1482 rent restrictions, giving ownership the flexibility to set rents at market. The property encompasses approximately 9,104 square feet of living space on a 0.22 acre lot and features a unit mix of (4) 3BR/2BA units, (2) 2BR/2BA units, and (4) 1BR/1BA units (one of the 1+1 units is designated Very Low Income). The property currently generates gross scheduled income of $28,780 per month ($345,360 annually), supplemented by approximately $5,300 in annual utility reimbursement income. The building consists of 3 stories of Type V construction over a ground-level parking garage, with a lobby and hydraulic elevator. The Certificate of Occupancy was issued in October 2019, and the property is fully fire sprinklered with a fire alarm system, both finaled in 2019 (per LADBS permit records). As recent construction, the property offers new ownership modern building systems and minimal near-term capital expenditure requirements. Each unit features an individual split-system HVAC unit and a separate water sub-meter, allowing ownership to recapture water costs from residents. The ground-level garage provides residents with on-site parking, and elevator service offers convenient access to all floors. The property last sold in 2021 for $5.7M and was appraised last year at $6.1M, offering a steep discount at today's asking price of $4.2M. Ideally situated in the vibrant Studio City submarket, 11408 W Sarah Street is minutes from Universal Studios Hollywood, Warner Bros. Studios, and the shops and dining along Ventura Boulevard. The Metro B Line and the 101, 134, and 170 freeways provide easy access to Hollywood, Burbank, and Downtown Los Angeles. Proximity to major entertainment employers supports strong and consistent rental demand.
Location
State CA
County Los Angeles
Area Stud - Studio City
Zoning LARD1.5
Interior
Heating Central
Cooling Central Air
Fireplace No
Exterior
Parking Features Covered, Garage, Gated, One Space, Community Structure, Tandem
Garage Spaces 17.0
Garage Description 17.0
Total Parking Spaces 17
Building
Story 3
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 2365013027
Special Listing Condition Standard
Listed by Jake Glaser Lyon Stahl Investment Real Estate, Inc. #02128816
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