$7995000 Price Analysis   ♡   North Hollywood, CA 91601 1 bed 40 bath 17690 SqFt ($451/SqFt) 0.51 acre lot. Built 1965 Listed 2024-04-22, Taxes $72333 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
We are proud to present 5020 Tujunga Avenue - a value add real estate opportunity located in North Hollywood
CA. The 40 unit building is comprised of 15- Bachelors, 24- Studios complimented by 1- 1 bedroom unit. Constructed in 1965, the property spans 17, 690 gross square feet and is set on a 0.51-acre lot. The property has ample parking spots for tenants with easy access through an alley that leads behind the property. To enhance the quality of living for residents, the property features a smoke-free environment, security systems, intercom, storage spaces, laundry facilities, pool, maintenance and manager on-site, walk-in closets and balconies.One of this property's signicant attractions is the extraordinary value-add potential. Current rents at the property are approximately 35% below the market rate, presenting a signicant opportunity for the buyer. Assuming the buyer can turn over all units and achieve market rents throughout, we estimate that the units could bring in about $77, 000 in gross rental incom each month or about $927, 000 per year, increasing the buyer's CAP rate to 8.42%!
The location of 5020 Tujunga Ave in North Hollywood is particularly noteworthy. Nestled in a vibrant and evolving area, this property benets from its proximity to key commercial and entertainment hubs, including the NoHo Arts District, renowned for its lively arts scene, theaters, cafes and eclectic dining options. Tenants have ease of access to North Hollywood and Valley Village Park as well as the North Hollywood Recreation Center directly across the street. Additionally, the property is well connected through public transportation networks and major roadways, enhancing accessibility and convenience for residents. The proximity to various lm studios and creative industries in North Hollywood also makes this location desirable for professionals working within these sectors, potentially increasing demand for rental units.
Presented by Filip Niculete at
Marcus & Millichap.
Property MLS #24-383033 from TheMLSCLAW
Full Bathrooms: 40
Lot Size Dimensions: 111x120
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 22236
Calculated Total Monthly Association Fees: 0
Number of Units: 40
Unit Features: 1 BathsTotal: 1, 1 SquareFeet: 27000, 2 BathsTotal: 1, 2 SquareFeet: 47880, 3 BedsTotal: 1, 3 BathsTotal: 1, 3 SquareFeet: 2400
County: Los Angeles
Cap Rate: 5.76
Directions: Tujunga & Morrison
Source Property Type: Residential Income
Area: North Hollywood
Source Neighborhood: North Hollywood
Parcel Number: 2353-014-036
Zoning: LAR4
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1558444 + $4374584 $5933028 | $72333 |
| 2021 | $1527887 + $4288808 $5816695 | $71408 |
| 2020 | $1512221 + $4244832 $5757053 | $72124 |
| 2019 | $1482570 + $4161600 $5644170 | $69313 |
| 2018 | $1453500 + $4080000 $5533500 | $68837 |
| 2017 | $617469 + $470113 $1087582 | $15537 |
| 2016 | $605362 + $460896 $1066258 | $15005 |
| 2015 | $596269 + $453973 $1050242 | $14817 |
| 2014 | $584589 + $445081 $1029670 | $15138 |
| 2013 | $581947 + $443070 $1025017 | $15139 |
| 2012 | $570537 + $434383 $1004920 | $15329 |
| 2010 | $559350 + $425866 $985216 | $15083 |
| 2009 | $556489 + $423689 $980178 | $14570 |
| 2009 | $555170 + $422684 $977854 | $14570 |
| 2008 | $545578 + $415382 $960960 | $14044 |
| 2007 | $534881 + $407238 $942119 | $13788 |
$7995000
TheMLSCLAW
Listed 2024-04-22
$8250000
TheMLSCLAW
Sold 2017-01-19
$5425000
Public Record
Sold 1996-12-26
$775000
Public Record
Year Built: 1965
Levels: Two Level
Living Area Source: Vendor Enhanced
Property Age: 59
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.