5631 Whitnall Hwy - Apartments FOR SALE


North Hollywood, CA 91601
$2,600,000 USD
310-339-5477
5631 Whitnall Hwy, North Hollywood, CA for Sale
$2,600,000 USD
Apartments - FOR SALE
1/20
null | 5.25% Cap Rate

5631 Whitnall Hwy
North Hollywood, CA 91601


HIGHLIGHTS

  • NEW 2021 CONSTRUCTION – Currently exempt from both the Los Angeles Rent Stabilization Ordinance and CA Statewide Rent Control (AB 1482).
  • ALL LARGE THREE-BEDROOM HOMES– Two 3Bed+3.5Bath and two 3Bed+3Bath units, 6,015 SF total and 1,504 SF average, drawing family tenants rather than room
  • OWNER OCCUPIER READY - The vacant unit provides the perfect scenario for a new owner to occupy while receiving steady income from the remaining units
  • RENTAL UPSIDE – In-place rents of $14,800 per month sit $900 below market.
  • LOW OPERATING BURDEN – Estimated expenses of $41,220, or $10,305 per unit, produce a 23.2% expense ratio on in-place income.
  • PRIME NORTH HOLLYWOOD LOCATION – Near NoHo Arts District and the Metro B and G Line station, with direct access to the Burbank studio employment base.

OVERVIEW

The Highlight Group of Equity Union Commercial, as the exclusive listing agent, is pleased to present the opportunity to acquire 5631 Whitnall Hwy., a condo-quality four-unit multifamily investment property located in the North Hollywood neighborhood of Los Angeles. Built in 2021, the 6,015 square-foot property sits on a 5,000 square-foot lot and is arranged as two buildings addressed 5631, 5631½, 5633 and 5633½. All four homes are three-bedroom plans averaging 1,504 square feet. Because the improvements were completed in 2021, the property is currently exempt from the Los Angeles Rent Stabilization Ordinance and from the statewide cap on new construction, and one of the four units is vacant and available to lease at market today.

FOR SALE DETAILS

PRICE

$2,600,000 USD

PRICE/SF

$363 USD /SF

# OF UNITS

4

PRICE/UNIT

$650,000

CAP RATE

5.25%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2021

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

Q C2-1 XL

APN/PARCEL ID

2415-027-014

ASK ABOUT THIS PROPERTY

Troy LuceroEquity Union CommercialMore Info
310-339-5477

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Troy LuceroEquity Union CommercialMore Info
310-339-5477

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.