11120 Burbank Boulevard - North Hollywood, CA 91601
We are pleased to present for sale a unentitled development site in the thriving, densely populated North Hollywood neighborhood. The subject is located on the corner of Burbank Blvd. and Fulcher Ave. and has two addresses at 11120 Burbank Blvd. and 5553 Fulcher Ave. Develop 177; 15 units as multifamily project. (buyer to confirm) The site is zoned C2-1 on 177; 10,342 square foot corner lot. Currently operates as 6 units and 8 offices in a mixed-use building with gross income of $132,999. North Hollywood has undergone a huge boom in development within the past few years. Multiple development projects are underway, including The Carlyle Group's 329-unit, The Weddington, Hayes Capital Management's 297-unit Lankershim & Otsego and the ambitious NoHo West project. See rent comparables range for new construction:1 Bed-1 Bath rents range of $2,115 - $3,040; 2 Bed-2 Bath rents range of $2,600 - $3,700. The submarket's desirable location is near the center of the metro and within a reasonable commuting distance of several of LA's premiere employment centers including Downtown Los Angeles, Hollywood, Woodland Hills and Beverly Hills.