RUNNYMEDE NORTH HOLLYWOOD, CA 91605

Features

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Facts

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Sale Type

This is a HUD Home that the Government has foreclosed on because the owner couldn't meet their payments. This home is sold via an auction process whereby the highest bidder wins the home, typically at prices affordable for lower-income families.

Description

12035 Runnymede presents an exceptional opportunity for investors with a fully RTI-approved 72-unit development spanning 37,800 SF on a 15,048 SF lot. Ready for immediate construction, the project is 100% affordable housing, with the seller covering the plan permit costs. The four- story building features 66 one-bedroom units (average 437 SF) and 6 studio units (average 318 SF), designed to meet the growing demand for affordable housing in a high-density area. With an estimated minimum annual rental income of $1,854,120 (per Schedule 6-HCD & Schedule 1- HUD), this project offers a strong return potential. Residents will benefit from thoughtfully designed building amenities, including a 2,800 SF rooftop deck, a recreation room, laundry facilities, an office, and a bicycle room. Designed to embrace the L.A. lifestyle, the project features rooftop spaces that capture breathtaking city lights and sunset views. Strategically located just off Laurel Canyon Blvd between Sherman Way & Saticoy St, the property boasts a Walk Score of 73, offering convenient access to local amenities and public transportation. Its central location, just blocks from the 170, 5, and 101 freeways, ensures seamless connectivity throughout Los Angeles. Located in a densely populated area with over 36,000 residents within a one-mile radius, this project meets a critical housing need while providing an outstanding investment opportunity. Whether you're a seasoned investor, a developer looking for your next project, or a buyer aiming to add high-demand rental units to your portfolio, this is an exceptional opportunity to capitalize on North Hollywood's thriving rental market.