11633 Friar Street, North Hollywood, California 91606, North Hollywood, 91606 - bed, bath
ACTIVE$1,300,000
11633 Friar Street, North Hollywood, California 91606
0Bed
0Bath
3,122Sqft
7,473Lot
Year Built
1944
Close
-
List price
$1.3M
Original List price
$1.5M
Price/Sqft
$416
HOA
-
Days on market
-
Sold On
-
MLS number
IG25113888
Home ConditionTear down
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.30M(71th), sqft - 3122(50th), beds - undefined(50th), baths - undefined(50th).
Investors special!! This is the perfect opportunity for an Investor or Developer to build a 14 unit building on this lot. Property owner has plans and permits in place. This Fourplex has four 2 bedroom-1 bath units offering 3,122 square feet of living space. All units are currently occupied. Current rents are between $1300-1400 per unit. The units are under rent control. The building has 4 separate electric meters, 4 gas meters and 1 water meter. There are 6 parking spaces in the back. Property is conveniently located near 170 freeway. This property is located near NoHo West Shopping Plaza.
Nearby schools
5/10
Victory Boulevard Elementary School
Public,•K-5•0.4mi
3/10
Maurice Sendak Elementary School
Public,•K-5•0.6mi
5/10
Fair Avenue Elementary School
Public,•K-5•0.6mi
5/10
Bellingham Elementary School
Public,•K-5•0.9mi
4/10
Oxnard Street Elementary School
Public,•K-5•1.1mi
4/10
Camellia Avenue Elementary School
Public,•K-5•1.3mi
7/10
Burbank Boulevard Elementary School
Public,•K-5•1.3mi
6/10
John B. Monlux Elementary School
Public,•K-5•1.4mi
6/10
Lankershim Elementary School
Public,•K-5•1.5mi
2/10
Julie Korenstein Elementary School
Public,•K-5 & ungraded•1.7mi
5/10
Strathern Street Elementary School
Public,•K-5•2.1mi
8/10
Bret Harte Elementary School
Public,•K-5•2.3mi
7/10
Toluca Lake Elementary School
Public,•K-5•2.3mi
8/10
Providencia Elementary School
Public,•K-5•2.3mi
9/10
Theodore Roosevelt Elementary School
Public,•K-5•2.8mi
7/10
Rio Vista Elementary School
Public,•K-5•2.9mi
4/10
Roy Romer Middle School
Public,•6-8•0.7mi
6/10
Luther Burbank Middle School
Public,•6-8•2.0mi
6/10
Walter Reed Middle School
Public,•6-8•2.3mi
5/10
David Starr Jordan Middle School
Public,•6-8•4.2mi
6/10
Arroyo Seco Museum Science
Public,•K-8•11.9mi
5/10
Sun Valley Engineering And Technology Magnet
Public,•6-12•1.3mi
3/10
East Valley Senior High School
Public,•9-12•1.4mi
8/10
North Hollywood Senior High School
Public,•9-12•1.4mi
6/10
Ulysses S. Grant Senior High School
Public,•9-12•1.9mi
6/10
Burbank Unified Independent Learning Academy (Buila)
Public,•7-12•2.0mi
6/10
John H. Francis Polytechnic
Public,•9-12•2.7mi
7/10
Burroughs High School
Public,•9-12•3.5mi
8/10
Burbank High School
Public,•9-12•4.0mi
Price History
Date
Event
Price
08/22/25
Price Change
$1,300,000
05/22/25
Listing
$1,500,000
Condition Rating
Tear down
The property was built in 1944, making it 80 years old. The listing explicitly markets it as an 'investor special' for building a new 14-unit building, with plans and permits already in place. This indicates that the primary value of the property lies in the land and its redevelopment potential, not the existing quadruplex. The absence of any interior photos, coupled with the age and visible exterior wear, strongly suggests the existing units are in very poor, outdated condition, requiring substantial rehabilitation or, more likely, demolition to realize the property's highest and best use as described.
Pros & Cons
Pros
Significant Development Potential: The property is marketed as an 'Investor's special' with plans and permits already in place to build a 14-unit building, offering a clear and expedited path for substantial future value creation and increased density.
Immediate Income Stream: As a fully occupied fourplex with four 2-bedroom, 1-bath units, the property provides immediate rental income, making it an attractive asset for investors seeking cash flow from day one.
Strategic Location: Conveniently located near the 170 freeway and the NoHo West Shopping Plaza, the property benefits from excellent accessibility and proximity to amenities, enhancing its appeal for both current tenants and future residents of a new development.
Individual Utility Metering (Gas & Electric): The presence of four separate electric meters and four separate gas meters simplifies tenant billing and reduces landlord utility expenses, offering a significant operational advantage for a multi-unit property.
Existing Parking Availability: With 6 parking spaces in the back, the property offers a valuable amenity for tenants, which is often a challenge and highly sought after in dense urban environments like North Hollywood.
Cons
Rent Control Restrictions: The existing units are subject to rent control, which significantly limits the potential for increasing rental income and maximizing cash flow from the current fourplex, impacting immediate profitability.
Age of Current Structure: Built in 1944, the existing fourplex is an older building, potentially requiring significant capital expenditures for ongoing maintenance, repairs, and system upgrades if the buyer intends to hold it as-is rather than redevelop.
Shared Water Meter: The property has only one water meter for all four units, meaning the landlord is responsible for the entire water bill, which can be a substantial and unrecoverable expense from individual tenants.