$1,299,000 Price Analysis   ♡   North Hollywood, CA 91605 6 bed 7 bath 4,081 SqFt ($318/SqFt) 7,944SqFt lot. Built 1951 Listed 2024-01-13 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Exceptional and rare Investment opportunity with this 7-unit building in North Hollywood
* Has Contingent Offer *Spanning 4, 081 Sqft and situated on a 7, 882 Sqft lot. Each unit in the building ffers a 1 bedroom and 1 bathroom layout. The consistent unit configuration across the property ensures ease of management and appeals to a broad rental market. The LARD1.5 zoning enhances the propertys value, offering potential for future development. Its a unique blend of current stability and future growth prospects.
Located in a vibrant neighborhood, this property benefits from its strong rental demand, making it an attractive investment choice. The current capitalization rate (cap rate) stands at 4.5%, indicating a healthy return on investment. Additionally, the potential for a pro forma cap rate of approximately 9.2% showcases the significant upside potential of this investment. This property is not an asset, but a gateway to long-term financial growth and success in the real estate market. Its ideal for investors seeking a balanced combination of immediate income and potential for value appreciation.
Presented by Michael Chez at
Compass.
Property MLS #SR24007393 from CRMLS
Lot Size Acres: 0.1823691
Lot Size Source: Assessor
Lot Size Square Feet: 7944
Parking Features: Parking YN: Yes, Parking Features: Uncovered
Parking Total: 9
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 1
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 1
Bedrooms in Unit-5: 1
Bedrooms in Unit-6: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Total Bathrooms in Unit-6: 1
Total Bathrooms in Unit-7: 1
Unit-1 Garage Spaces: 1
Unit-2 Garage Spaces: 1
Unit-3 Garage Spaces: 1
Unit-4 Garage Spaces: 1
Unit-5 Garage Spaces: 1
Unit-6 Garage Spaces: 1
Unit-7 Garage Spaces: 1
Tenant Pays: Cable TV, Electricity, Gas
Rent Control: Yes
County: Los Angeles
Cap Rate: 4.50
Source Property Type: Residential Income
Insurance Expense: 3500.00
Area: NHO - North Hollywood
Source Neighborhood: NHO - North Hollywood
New Taxes Expense: 16200.00
Number of Separate Electric Meters: 6
Number of Separate Gas Meters: 6
Number of Separate Water Meters: 1
Parcel Number: 2321022022
Postal Code Plus 4: 6062
Professional Management Expense: 2700.00
Trash Expense: 3540.00
Zoning: LARD1.5
Source System Name: C2C
$1,299,000
CRMLS
Listing removed 2023-11-16
$0
CRMLS
Price Changed 2023-09-19
$1,795,000
CRMLS
Price Changed 2023-08-17
$1,895,000
CRMLS
Listed 2023-08-10
$1,999,000
CRMLS
Year Built: 1951
Building Features: 1
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: Street
Property Age: 73
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Apartment
Year Built Source: Assessor
Sewer: Sewer: Public Sewer, Water Sewer Expense: 1000.00
Water Source: Public
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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.