Seller's Agent in 2022
Elizabeth Maddox
Myunits.com Inc.
(818) 850-8485
27 in this area
118 Total Sales
11347 Emelita St North Hollywood, CA 91601
North Hollywood Neighborhood
12
Beds
7
Baths
6,408
Sq Ft
7,699
Sq Ft Lot
Highlights
- Property is near public transit
- Neighborhood Views
- Landscaped
- No HOA
- Laundry Room
- Rectangular Lot
About This Home
As of December 202211347 Emelita St is a 7-unit building in the NoHo Arts District that has been extensively renovated (5 of 7 units fully remodeled) and boasts an outstanding current cap rate of 4.69%. These gorgeously updated 2 bedroom and 1 bedroom units quickly achieved market rents of $2,495 for the 2 bedrooms and $2,195 for the 1 bedrooms. In addition to the already strong return, this property boasts major upside potential- with 2 remaining units under market rent, there is room to boost the return to 5.71% ($2,519 more in monthly rent)! Additionally, there may be potential to add ADU’s above the carport, an addition that would generate further income (buyer to do their own due diligence). There is also a large storage room that can certainly bring additional income- be that via an additional ADU conversion, paid storage or an extra room rental. With small new construction developments going for the high $2 millions and beyond, this is your chance to buy as close to new as possible while locking in an unheard of price per door of $385,000 and price per square foot of $420.57!
11347 Emelita is made up of five 2 bedroom, 1 bathroom units and two 1 bedroom, 1 bathroom units. All seven units are enormous and have very open, spacious floorplans. This property is rich with amenities, including: upscale stainless steel appliances in 5/7 units, quartz countertops, vinyl floors in the new units and hardwood floors in the non-updated units, a laundry room generating approximately $100 in additional income a month, a massive storage unit currently set up as a gym, 8 smaller storage units in the carport, 7 parking spaces (4 carport, 3 surface), new windows and doors throughout the whole property, mini splits and new wall units in the renovated units, a resealed roof, and new electrical subpanels. Another huge bonus is that 5 of the 7 units are on RUBS- in addition to paying electric and gas individually, tenants also pay for their portion of water/sewer and trash, making the expenses very light on this property!
This impressive compound is located 5 minutes from both the heart of the NoHo Arts District and NoHo West- a dream come true for renters.
Last Agent to Sell the Property
Myunits.com Inc. License #01921425 Listed on: 10/10/2022
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $32,318
Year Built
- Built in 1963
Lot Details
- 7,699 Sq Ft Lot
- Two or More Common Walls
- Fenced
- Fence is in excellent condition
- Landscaped
- Rectangular Lot
- Level Lot
Home Design
- Property Attached
Interior Spaces
- 6,408 Sq Ft Home
- 2-Story Property
- Neighborhood Views
- Laundry Room
Bedrooms and Bathrooms
- 12 Bedrooms
- 7 Bathrooms
Parking
- 3 Open Parking Spaces
- 7 Parking Spaces
- 4 Carport Spaces
Additional Features
- Exterior Lighting
- Property is near public transit
- Standard Electricity
Listing and Financial Details
- Tax Lot 123
- Tax Tract Number 5881
- Assessor Parcel Number 2337014023
- $1,119 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 7 Units
Amenities
- Laundry Facilities
Building Details
- Rent Control
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $1,200
- Insurance Expense $2,563
- Maintenance Expense $2,500
- Trash Expense $2,000
- Water Sewer Expense $2,000
- New Taxes Expense $31,411
- Operating Expense $41,674
- Gross Income $1,200
- Net Operating Income $126,515
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/13/2022 12/13/22 | Sold | $2,650,000 | -1.7% | $414 / Sq Ft |
| 10/19/2022 10/19/22 | Pending | -- | -- | -- |
| 10/17/2022 10/17/22 | Price Changed | $2,695,000 | -2.0% | $421 / Sq Ft |
| 10/10/2022 10/10/22 | For Sale | $2,750,000 | +150.0% | $429 / Sq Ft |
| 11/06/2015 11/06/15 | Sold | $1,100,000 | -8.3% | $172 / Sq Ft |
| 10/28/2015 10/28/15 | Pending | -- | -- | -- |
| 09/19/2015 09/19/15 | For Sale | $1,199,500 | -- | $187 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Elizabeth Maddox
-
Ian Maddox
I
Seller Co-Listing Agent in 2022
Ian Maddox
Myunits.com Inc.
(818) 859-7242
20 in this area
74 Total Sales
-
Irv Tons
Seller's Agent in 2015
Irv Tons
CBD Investment Inc.
(626) 484-4046
34 Total Sales
-
Alex Nelson
A
Buyer's Agent in 2015
Alex Nelson
1st Point Realty
(310) 365-4046
10 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: BB22218205
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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