HUGE PRICE IMPROVEMENT! Check out this low-maintenance building with a great GRM and cap rate! This 3-story, 4,314-square-foot property sits on a 6,849-square-foot lot, and it boasts a great unit mix of twelve units (8 Studios and 4 Bachelors) each with one full bath. The unit breakdown is as follows... 6 Studios, 4 Guest Units and 2 Mini one-bedroom units! Located in the very desirable NoHo Arts District neighborhood. Built in 1979, this property is free of LA's strict rent control laws, and is only subject to California's AB-1482, which limits annual rent increases to 5% + CPI. (buyer to confirm) giving the investor the opportunity to capitalize on over 80% upside potential in rents. Perfect rental mix for the entry-level demographics NoHo is so popular for. One unit vacating 6/30/23 The property offers laundry facilities in the building. All units are bright and spacious and close to all of the grandeur that is the NoHo Arts District which is a one-square-mile community in North Hollywood that is home to more than 20 live, professional theaters, dance studios, art galleries, public art, music recording venues, acting and art workshops, international dining options, clothing and specialty shops, and businesses that create a myriad of art forms. NoHo is "Where the Arts Are Made." This is the first time this property has been on the market in over 20 years and sellers have never listed the property for sale since, making this a rare opportunity to own a generational asset in a robust rental market.