6937 Simpson Ave - Apartments FOR SALE


North Hollywood, CA 91605
$3,295,000 USD
310-982-7055
6937 Simpson Ave, North Hollywood, CA for Sale
$3,295,000 USD
Apartments - FOR SALE
1/20
null | 5.83% Cap Rate

6937 Simpson Ave
North Hollywood, CA 91605


OVERVIEW

Lowest priced new construction property in the North Hollywood market. Enormous nearly 10,000 square foot 6 unit (4+2) for only $340/square foot and under $550K/door. Excellent unit mix with townhome style layouts consisting of (1) 6 bed/4 bath unit, (1) 5 bed/4 bath unit, (2) 4 bed/3 bath units, and (2) 2 bed/1 bath ADUs. Brand new 2025 construction that's non-rent controlled, AB1482 exempt, and located in an opportunity zone. Super strong real in-place income with 5 out of 6 units leased and a GRM of 12.5 with a cap rate of nearly 6%. Luxury interior finishes and modern floor plans with light, bright open concepts, overhead lighting, AC, in-unit laundry, stainless steel appliances and high-end cabinetry (23) bedrooms and (16) bathrooms make for super attractive unit sizes and maximum rents (6) parking spaces plus front and rear yards to the property (5) electrical meters, (4) gas meters, and (4) separate water meters plus a rooftop solar system for efficient utility management. Excellent North Hollywood location close to everything LA has to offer. Minutes from the Burbank airport as well as the 170, 134, and 101 freeways. Extensive retail options just down the street at NoHo West and close to the NoHo Arts District for theaters, art galleries, cafes, and boutique shops. Average household income within 5 miles of over $99,000 per Costar. Walk score of 73/100

FOR SALE DETAILS

PRICE

$3,295,000 USD

PRICE/SF

$340 USD /SF

# OF UNITS

6

PRICE/UNIT

$549,167

CAP RATE

5.83%

% LEASED

84%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2024

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,907 SF

ZONING

LARD1.5

APN/PARCEL ID

2321-016-006

ASK ABOUT THIS PROPERTY

Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

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Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

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