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Key Details
Sold Price $1,500,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID AR22014273
Sold Date 04/15/22
HOA Y/N No
Year Built 1962
Lot Size 6,756 Sqft
Property Sub-Type Mixed Use
Property Description
Amazing 5 unit investment property in North Hollywood, CA. Building is approximately 5,103 sq ft. The Seller has APPROVED PERMITS WITH the CITY to construct an ADU which would provide additional rental income and increase the ROI. Proforma rents are $13,100 per month allowing the landlord to collect over $157,200 a year in Annual Gross Income. All tenants are long term and are on a month to month lease. This is a stable investment that would allow Landlord to hedge inflation with a large upside in rents. Once rents are stabilized you will have a 7.7% Cap. This great investment has a unit mix of (2) 3Bed/2B and (3) 2Bed/1B. This property has updated windows that were installed 1 year ago. On site coin laundry. The 3 units upstairs have newer AC units that were installed 2 years ago. The building sits on a large 6,754 sq ft lot conveniently located near the NoHo Arts District complete with shops, restaurants, movie theaters and cafes. It is also just minutes from the world famous Universal Studios Hollywood. Bring your best offers, this will sell FAST!
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LARD1.5
Interior
Heating Central, Wall Furnace
Cooling Central Air, Wall/Window Unit(s)
Fireplaces Type None
Fireplace No
Laundry Outside
Exterior
Parking Features Attached Carport
Carport Spaces 4
Fence Chain Link
Pool None
Community Features Street Lights
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N Yes
View City Lights
Roof Type Composition
Total Parking Spaces 4
Private Pool No
Building
Lot Description Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2320015004
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Financing Private
Special Listing Condition Standard
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Bought with Mike Vachani • Provenio Realty and Investment