About 11966 Runnymede Street
We are proud to present Las Casitas a well-performing, workforce housing investment located at 11966 Runnymede St. in the high-demand rental market of North Hollywood, CA. Positioned as a core cash-flow asset with remaining value-add upside, Las Casitas offers both immediate income and future growth potential. Priced to move at a compelling ~6.42% Cap Rate, this is a rare opportunity to acquire a strong-performing asset in a quality rental market at an attainable loan-to-value. The property spans 7,234 SF of improvements on an expansive 13,400 SF LARD2-zoned lot, consisting of: + A front house built in 1947 + Two apartment buildings constructed in 1964 Construction is wood frame and stucco exterior, with exterior paint completed in recent months. The front house has had several major upgrades in recent years, including: + Newer roof + Updated A/C + Newer water heater Most apartment units feature tile flooring for ease of maintenance, and nearly all have newer hot water heaters. The apartment building roof is approximately 10 years old and has been regularly maintained. Parking & Layout The property is well parked, with: + A 2-car garage attached to the front home + 4 tandem spaces + 3 single spaces = 13 total parking spaces Unit Mix, Amenities & Upside Potential + 6 (2+1.5) townhome-style units + 1 (4+1.5) single-family home Each apartment unit features its own private, enclosed yard or patio, supporting higher tenant satisfaction and rental premiums. With rents still below market in several units, the property offers room for rental increases through gradual turnover and
