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6827 Radford Avenue

North Hollywood, CA 91605
  • $1,299,000
  • STATUS: Active Under Contract
  • ON SITE: 101 Days
  • ID#: SR24007393
Under Contract
UPDATED: 142 min ago
$1,299,000
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1951
County:

School Ratings & Info

Listing Agent(s): Michael Chez of Compass (818-453-9162) and Efi Cohen of Compass(818-453-9162)


Description

Exceptional and rare Investment opportunity with this 7-unit building in North Hollywood, spanning 4,081 Sqft and situated on a 7,882 Sqft lot. Each unit in the building offers a 1 bedroom and 1 bathroom layout. The consistent unit configuration across the property ensures ease of management and appeals to a broad rental market. The LARD1.5 zoning enhances the propertys value, offering potential for future development. Its a unique blend of current stability and future growth prospects. Located in a vibrant neighborhood, this property benefits from its strong rental demand, making it an attractive investment choice. The current capitalization rate (cap rate) stands at 4.5%, indicating a healthy return on investment. Additionally, the potential for a pro forma cap rate of approximately 9.2% showcases the significant upside potential of this investment. This property is not just an asset, but a gateway to long-term financial growth and success in the real estate market. Its ideal for investors seeking a balanced combination of immediate income and potential for value appreciation.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-23T14:44:47.85. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Robin McCann | EXIT Alliance Realty. Licensed in the State of California, USA.
www.socalrealtyexpert.com/homes/146620802
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6827 Radford Avenue North Hollywood, CA 91605

  • Price: $1,299,000
  • Status: Active Under Contract
  • On Site: 101 Days
  • Updated: 142 min ago
  • ID#: SR24007393
0
Beds
0
Baths
0
½ Baths
0.18
Acres
1951
Built
Neighborhood:
NHO - North Hollywood
County:
Los Angeles
Area:
NHO - North Hollywood
Property Description
Exceptional and rare Investment opportunity with this 7-unit building in North Hollywood, spanning 4,081 Sqft and situated on a 7,882 Sqft lot. Each unit in the building offers a 1 bedroom and 1 bathroom layout. The consistent unit configuration across the property ensures ease of management and appeals to a broad rental market. The LARD1.5 zoning enhances the propertys value, offering potential for future development. Its a unique blend of current stability and future growth prospects. Located in a vibrant neighborhood, this property benefits from its strong rental demand, making it an attractive investment choice. The current capitalization rate (cap rate) stands at 4.5%, indicating a healthy return on investment. Additionally, the potential for a pro forma cap rate of approximately 9.2% showcases the significant upside potential of this investment. This property is not just an asset, but a gateway to long-term financial growth and success in the real estate market. Its ideal for investors seeking a balanced combination of immediate income and potential for value appreciation.
Exterior Features

Entry Level 1 Entry Location Street Number Of Separate Electric Meters 6 Parking Features Uncovered Parking Total 9 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls Cooling Wall/Window Unit(s) Cooling YN Yes

Property Features

Additional Parcels YN No Cap Rate 4.5 Common Interest Community Apartment Community Features Street LightsSidewalks Disclosures Rent Control Electric Expense 4200 Fuel Expense 960 Garage YN Yes Gross Income 90266 Gross Scheduled Income 90266 Insurance Expense 3500 Land Lease YN No Laundry Features Inside Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Net Operating Income 59666 New Construction YN No New Taxes Expense 16200 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Number Of Units Leased 6 Operating Expense 30600 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TVElectricityGas Total Actual Rent 7522 Trash Expense 3540 Water Sewer Expense 1000 Water Source Public Zoning LARD1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-23T14:44:47.85. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Robin McCann | EXIT Alliance Realty. Licensed in the State of California, USA.
 
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Robin McCann | EXIT Alliance Realty
43521 Rige Park Drive, Suite 201
Temecula CA, 92590
Listing Agent(s): Michael Chez of Compass (818-453-9162) and Efi Cohen of Compass(818-453-9162)