11618 Victory Boulevard, North Hollywood, California 91606, North Hollywood, 91606 - 3 bed, 1 bath

11618 Victory Boulevard, North Hollywood, California 91606 home-pic-0
ACTIVE$1,249,000
11618 Victory Boulevard, North Hollywood, California 91606
3Beds
1Bath
1,380Sqft
7,022Lot
Year Built
1941
Close
-
List price
$1.25M
Original List price
$1.25M
Price/Sqft
$905
HOA
-
Days on market
-
Sold On
-
MLS number
GD24184759
Home ConditionTear down
Features
View-

About this home

Possibly Over-Priced:The estimated price is 10% below the list price. We found 2 Cons,3 Pros. Rank: price - $1.25M(82th), sqft - 1380(41th), beds - 3(50th), baths - 1(29th).

Located at 11618 Victory Blvd, this single-family home is ready for demolition, less than a month away from RTI (Ready to Issue) permit, to build a 5-unit complex. Set in an area surrounded by high-demand apartment complexes, this project is perfect for investors looking to capitalize on the growing need for quality rental units. Each of the 5 units features 2 bedrooms, 2 bathrooms, and 1,200 sq. ft. of living space, with two units on the first floor and three on the second floor. With new construction properties commanding premium rents, this project offers a unique opportunity to build and hold for your portfolio, providing strong long-term cash flow or whether you're an experienced developer looking to flip for a significant return, the possibilities are endless. The heavy lifting has already been done – plans are less than a month away from approval! Prior to opening escrow, RTI plans will be presented. Close escrow and start the demolition right away. Take advantage of this rare chance to develop in a high-demand area with major upside potential. This is the investment opportunity you've been waiting for!

Nearby schools

5/10
Victory Boulevard Elementary School
Public,K-50.4mi
5/10
Fair Avenue Elementary School
Public,K-50.6mi
3/10
Maurice Sendak Elementary School
Public,K-50.6mi
5/10
Bellingham Elementary School
Public,K-50.9mi
4/10
Oxnard Street Elementary School
Public,K-51.1mi
4/10
Camellia Avenue Elementary School
Public,K-51.2mi
7/10
Burbank Boulevard Elementary School
Public,K-51.3mi
6/10
John B. Monlux Elementary School
Public,K-51.5mi
6/10
Lankershim Elementary School
Public,K-51.5mi
2/10
Julie Korenstein Elementary School
Public,K-5 & ungraded1.7mi
5/10
Strathern Street Elementary School
Public,K-52.1mi
8/10
Bret Harte Elementary School
Public,K-52.3mi
8/10
Providencia Elementary School
Public,K-52.3mi
7/10
Toluca Lake Elementary School
Public,K-52.3mi
9/10
Theodore Roosevelt Elementary School
Public,K-52.8mi
7/10
Rio Vista Elementary School
Public,K-52.9mi
4/10
Roy Romer Middle School
Public,6-80.7mi
6/10
Luther Burbank Middle School
Public,6-82.0mi
6/10
Walter Reed Middle School
Public,6-82.3mi
5/10
David Starr Jordan Middle School
Public,6-84.1mi
6/10
Arroyo Seco Museum Science
Public,K-811.9mi
5/10
Sun Valley Engineering And Technology Magnet
Public,6-121.3mi
3/10
East Valley Senior High School
Public,9-121.4mi
8/10
North Hollywood Senior High School
Public,9-121.4mi
6/10
Ulysses S. Grant Senior High School
Public,9-121.9mi
6/10
Burbank Unified Independent Learning Academy (Buila)
Public,7-122.0mi
6/10
John H. Francis Polytechnic
Public,9-122.7mi
7/10
Burroughs High School
Public,9-123.5mi
8/10
Burbank High School
Public,9-123.9mi
Condition Rating
Tear down

The property was built in 1941 and is described as ready for demolition to build a new 5-unit complex. The images confirm the property is in very poor condition, justifying a 'tear-down' score.
Pros & Cons

Pros

Development Opportunity: Property is primed for development of a 5-unit complex in a high-demand rental area.
RTI Permit Approaching: Ready to Issue (RTI) permit is less than a month away, significantly reducing development timeline.
High Rental Demand: Located in an area with strong demand for quality rental units, promising potential for high cash flow.

Cons

Demolition Required: Existing single-family home requires demolition, adding to initial project costs.
Upfront Investment: Requires significant upfront investment for demolition and new construction.

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