12020 Hamlin Street, North Hollywood, California 91606, North Hollywood, 91606 - bed, bath
ACTIVE$1,890,000
12020 Hamlin Street, North Hollywood, California 91606
0Bed
0Bath
6,266Sqft
7,376Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Location: Situated in a highly desirable North Hollywood neighborhood, recognized as one of LA's most sought-after rental markets, ensuring strong tenant demand.
Top Cons:
Building Age & Potential Modernization Costs: Constructed in 1963, the property, while well-maintained, likely requires significant capital investment for modernization and potential system upgrades to fully realize its rental upside.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1963 (62 years old).
Condition: The property was built in 1963, making it over 60 years old. While the description states it is 'well-maintained,' the lack of interior images prevents a detailed assessment of kitchens, bathrooms, and other internal features. The listing explicitly mentions a 'value-add opportunity through modernization,' which strongly suggests that the interiors are outdated and require significant updates to meet current market standards and maximize rental income. The exterior appears maintained but reflects its age. Visible window AC units in some units also hint at older or less efficient cooling systems. Therefore, the property is functional but aged and in need of substantial cosmetic and possibly system updates, aligning with a 'Fair' condition score.
Year Built
1963
Close
-
List price
$1.89M
Original List price
$2.09M
Price/Sqft
$302
HOA
-
Days on market
-
Sold On
-
MLS number
SR25089221
Home ConditionFair
Features
Good View:
View-
About this home
Situated in a highly desirable neighborhood, this well-maintained 7-unit apartment building spans 6,266 sq ft and offers a strong unit mix of (3) 2-bed, 2-bath units and (4) 1-bed, 1-bath units. With excellent frontage on a corner lot and ample curb appeal, this is an ideal opportunity in one of LA’s most sought-after rental markets. The building features secure gated entry, carport and open parking, and a clean, low-maintenance exterior. Several units offer private patios or balconies, and the layout is designed to optimize privacy and natural light. With significant upside potential in rents, this property presents a value-add opportunity through modernization or strategic tenant turnover.
Nearby schools
5/10
Victory Boulevard Elementary School
Public,•K-5•0.3mi
5/10
Bellingham Elementary School
Public,•K-5•0.4mi
6/10
John B. Monlux Elementary School
Public,•K-5•1.0mi
3/10
Maurice Sendak Elementary School
Public,•K-5•1.1mi
5/10
Fair Avenue Elementary School
Public,•K-5•1.2mi
7/10
Burbank Boulevard Elementary School
Public,•K-5•1.3mi
4/10
Camellia Avenue Elementary School
Public,•K-5•1.3mi
2/10
Julie Korenstein Elementary School
Public,•K-5 & ungraded•1.5mi
4/10
Oxnard Street Elementary School
Public,•K-5•1.6mi
5/10
Strathern Street Elementary School
Public,•K-5•1.8mi
6/10
Lankershim Elementary School
Public,•K-5•1.9mi
7/10
Toluca Lake Elementary School
Public,•K-5•2.8mi
8/10
Bret Harte Elementary School
Public,•K-5•2.9mi
8/10
Providencia Elementary School
Public,•K-5•2.9mi
7/10
Rio Vista Elementary School
Public,•K-5•3.2mi
9/10
Theodore Roosevelt Elementary School
Public,•K-5•3.3mi
4/10
Roy Romer Middle School
Public,•6-8•0.1mi
6/10
Walter Reed Middle School
Public,•6-8•2.5mi
6/10
Luther Burbank Middle School
Public,•6-8•2.5mi
5/10
David Starr Jordan Middle School
Public,•6-8•4.7mi
6/10
Arroyo Seco Museum Science
Public,•K-8•12.5mi
6/10
Ulysses S. Grant Senior High School
Public,•9-12•1.4mi
5/10
Sun Valley Engineering And Technology Magnet
Public,•6-12•1.4mi
8/10
North Hollywood Senior High School
Public,•9-12•1.6mi
3/10
East Valley Senior High School
Public,•9-12•1.9mi
6/10
John H. Francis Polytechnic
Public,•9-12•2.4mi
6/10
Burbank Unified Independent Learning Academy (Buila)
Public,•7-12•2.6mi
7/10
Burroughs High School
Public,•9-12•4.1mi
8/10
Burbank High School
Public,•9-12•4.5mi
Condition Rating
Fair
The property was built in 1963, making it over 60 years old. While the description states it is 'well-maintained,' the lack of interior images prevents a detailed assessment of kitchens, bathrooms, and other internal features. The listing explicitly mentions a 'value-add opportunity through modernization,' which strongly suggests that the interiors are outdated and require significant updates to meet current market standards and maximize rental income. The exterior appears maintained but reflects its age. Visible window AC units in some units also hint at older or less efficient cooling systems. Therefore, the property is functional but aged and in need of substantial cosmetic and possibly system updates, aligning with a 'Fair' condition score.
Pros & Cons
Pros
Prime Location: Situated in a highly desirable North Hollywood neighborhood, recognized as one of LA's most sought-after rental markets, ensuring strong tenant demand.
Diverse Unit Mix: Features a robust combination of (3) 2-bed, 2-bath and (4) 1-bed, 1-bath units, catering to a broad tenant demographic and maximizing occupancy potential.
Significant Value-Add Potential: Offers clear opportunities for substantial rent growth through strategic modernization and tenant turnover, presenting an attractive investment for increased cash flow.
Desirable Property Amenities: Includes secure gated entry, dedicated carport and open parking, and private patios/balconies for several units, enhancing tenant appeal and retention.
Excellent Curb Appeal & Corner Lot: Benefits from prominent frontage on a corner lot and ample curb appeal, contributing to its market visibility and overall attractiveness.
Cons
Building Age & Potential Modernization Costs: Constructed in 1963, the property, while well-maintained, likely requires significant capital investment for modernization and potential system upgrades to fully realize its rental upside.
Implied Capital Expenditure for Upside: The 'value-add opportunity' explicitly mentioned indicates that achieving the 'significant upside potential in rents' will necessitate immediate capital outlay for renovations and upgrades.
Recent Price Adjustments: Multiple price reductions from the original listing price (from $2.09M to $1.89M) may suggest an initial overvaluation or a slower market response, potentially impacting investor confidence or indicating a need for further negotiation.