North Hollywood, CA 91601,5851 Whitnall HWY
North Hollywood, CA 91601,5851 Whitnall HWY
North Hollywood, CA 91601,5851 Whitnall HWY
North Hollywood, CA 91601,5851 Whitnall HWY
North Hollywood, CA 91601,5851 Whitnall HWY
North Hollywood, CA 91601,5851 Whitnall HWY
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$1,220,000

$1,250,000

2.4%
Est.Price: ?

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Est. payment /mo

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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California Regional MLS (CRMLS)
Listed by Elliot Hassan • NorthMarq Realty Services, Inc.
Bought with James Antonucci • Keller Williams Realty-Studio City
Amin Zarif

Real Estate Agent & Loan Officer | License ID: 02076931

+1(949) 226-1789 | realestateaminzarif@gmail.com

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