$1,220,000
$1,250,000
2.4%For more information regarding the value of a property, please contact us for a free consultation.
8 Beds
7 Baths
4,888 SqFt
SOLD DATE : 08/18/2023
Key Details
Sold Price $1,220,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,888 sqft
Price per Sqft $249
MLS Listing ID 23233027
Sold Date 08/18/23
Bedrooms 8
HOA Y/N No
Year Built 1962
Lot Size 5,109 Sqft
Property Description
This is an opportunity to acquire 5851 Whitnall Hwy, a 7-unit value add opportunity located in North Hollywood. Built in 1962, 5851 Whitnall Hwy offers a subsequent owner with a resilient in place cash flow with substantial upside potential as current rents are approximately 45% below market. An astute investor will unlock this potential through strategic interior and exterior community enhancements as there is a high demand for product in the North Hollywood Submarket. 5851 Whitnall is has been well maintained by current ownership and various improvements have been made to the building throughout ownership. However, the unit interiors are either in near-original condition or have been modestly upgraded, affording the subsequent owner the opportunity to strategically reposition the unit interiors upon natural turnover or through a more aggressive management approach. The building is situated on a 5,110 square foot parcel and is comprised of one two story building with soft story tuck under parking. The property features a unique unit mix comprised of (5) one-bedroom/one-bathroom units measuring approximately 650 square feet and (2) two-bedroom/ one-bathroom units measuring just over 800 square feet.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Exterior
Garage Assigned
Parking Type Assigned
Total Parking Spaces 7
Building
Story 2
New Construction No
Others
Senior Community No
Tax ID 2415015008
Special Listing Condition Standard
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Bought with James Antonucci • Keller Williams Realty-Studio City
Real Estate Agent & Loan Officer | License ID: 02076931
+1(949) 226-1789 | realestateaminzarif@gmail.com