8023 Troost Avenue, North Hollywood, California 91605, North Hollywood, 91605 - bed, bath
ACTIVE$1,300,000
8023 Troost Avenue, North Hollywood, California 91605
0Bed
0Bath
3,700Sqft
16,477Lot
Year Built
1939
Close
-
List price
$1.3M
Original List price
$1.4M
Price/Sqft
$351
HOA
-
Days on market
-
Sold On
-
MLS number
SR25175999
Home ConditionPoor
Features
Good View:
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.30M(67th), sqft - 3700(67th), beds - undefined(50th), baths - undefined(50th).
Incredible investment opportunity with a spacious duplex property offering 3 total units on a huge lot of over 16000 square feet and approximately 3700 square feet of living area. The property includes community parking with 8 spaces, providing convenience for all tenants. The unit mix consists of a 3 bedroom 2 bathroom residence, a 2 bedroom 1 bathroom unit, and a 1 bedroom 1 bathroom unit, along with a permitted recreation room for added value and flexibility. This property combines strong rental potential with ample space, making it an excellent choice for investors looking for income producing real estate.
Price History
Date
Event
Price
10/29/25
Price Change
$1,300,000-7.1%
08/05/25
$1,400,000
Condition Rating
Poor
Built in 1939, this property shows significant age and a complete lack of modern updates across all units. The kitchens feature very old white appliances, outdated wooden cabinetry, laminate countertops, and linoleum flooring. Bathrooms are similarly dated with small vanities, old fixtures, and older tile work. Carpets and light fixtures throughout the living spaces are also old. The exterior shows general wear and tear, unkempt yards, and peeling paint. The property requires substantial repairs, rehabilitation, and full modernization of all units, including major system updates, to meet current living standards.
Pros & Cons
Pros
Multi-Unit Income Potential: The property features three distinct units (3-bed/2-bath, 2-bed/1-bath, 1-bed/1-bath) plus a permitted recreation room, offering diversified rental income streams and strong cash flow potential for investors.
Generous Lot Size: Situated on a huge lot of over 16,000 square feet, this property provides ample outdoor space, potential for future expansion, additional dwelling units (ADUs), or enhanced tenant amenities.
Ample Community Parking: The inclusion of 8 community parking spaces significantly enhances convenience for all tenants, a valuable asset for multi-unit properties in urban settings like North Hollywood.
Investment-Grade Asset: Explicitly marketed as an 'incredible investment opportunity' and 'income producing real estate,' this property is well-positioned for investors seeking consistent rental income and long-term appreciation.
Permitted Recreation Room: The presence of a permitted recreation room adds significant value and flexibility, potentially serving as a shared amenity space, a tenant lounge, or even an additional income-generating area.
Cons
Age of Property: Built in 1939, the property's age suggests potential for outdated infrastructure (e.g., plumbing, electrical systems) and may require significant capital expenditure for modernization, repairs, or ongoing maintenance.
Recent Price Reduction: A recent price drop from $1.4 million to $1.3 million could indicate initial overpricing or challenges in attracting buyers, potentially signaling market resistance or perceived value concerns that warrant further investigation.
Unspecified Condition of Units: The description lacks specific details regarding the current condition of the individual units, recent renovations, or major system updates, implying that a buyer should anticipate potential renovation costs or deferred maintenance.