NOT LISTED FOR SALE
6 Beds
5 Baths
15,668 Sq Ft
0.41 Acres

Last Sold January 29, 2015

Last sale price $3,000,000 $191 Per Sq Ft

30 Days on Market

Highlights

  • 0.41 Acre Lot
  • No HOA
  • Laundry Room
  • Victory Boulevard Elementary School Rated 9+
  • Cooling System Mounted To A Wall/Window
  • 18 Detached Carport Spaces

About This Home

As of January 2015

The subject property is in the city of North Hollywood within the county of Los Angeles in the southeast section of the San Fernando Valley. The property benefits from its close proximity to the 170, 101, and 134 freeways. Public transportation is also easily accessible to its residents. Additionally, the building is within close proximity to the heart of the newly developed and highly desirable Noho Arts District.

The neighborhood’s residential and commercial industry continues to strive and has provided a stable and solid demand for this particular area for several years. The rental demand remains competitive as vacancy rates remain low despite the current economic state.

The property offers an excellent unit mix with recent upgrades both in the interior of several units and exterior of the buildings which include copper plumbing. The property is professionally managed and well maintained with little to no deferred maintenance.

Last Agent to Sell the Property

Francis Gonzaga

Francis Gonzaga License #01228400 Listed on: 10/28/2014

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 0.41 Acre Lot
  • Two or More Common Walls
  • Wrought Iron Fence

Parking

  • 18 Car Garage
  • 18 Detached Carport Spaces
  • Parking Available
  • Automatic Gate
  • Assigned Parking
  • Controlled Entrance

Home Design

  • Property Attached
  • Shingle Roof
  • Copper Plumbing

Interior Spaces

  • 15,668 Sq Ft Home
  • 2-Story Property
  • Gas Range

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Sewer Paid

Additional Features

  • Exterior Lighting
  • Suburban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 105
  • Tax Tract Number 21019
  • Assessor Parcel Number 2335029021

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 18 Units

Amenities

  • Laundry Facilities

Building Details

  • 100 Leased Units
  • Rent Control
  • 18 Separate Electric Meters
  • 18 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $3,000
  • Gardener Expense $1,200
  • Insurance Expense $6,000
  • Maintenance Expense $6,000
  • Other Expense $3,380
  • Pest Control $720
  • Professional Management Expense $7,500
  • Trash Expense $4,300
  • Water Sewer Expense $20,000
  • New Taxes Expense $38,125
  • Gross Income $21,567
  • Net Operating Income $106,828

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0

Parking

18

Listing Details

  • Assessments: Yes
  • CapRate: 4.77
  • Price Per Unit: 169444
  • Professional Management Expense: 7500.00
  • Property Attached: Yes
  • Security: Automatic Gate
  • View: No
  • Water Sewer Expenses: 20000.00
  • Zoning: LAR3
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 2335029021
  • Year Built: 1961
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Copper Plumbing Full
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 191.47

Exterior Features

  • Fencing: Wrought Iron
  • Pool Private: No
  • Roof: Shingle
  • Spa: No

Garage/Parking

  • Carport Spaces: 18.00
  • Garage Spaces: 18.00
  • Parking: Yes
  • Parking Features: Assigned, Controlled Entrance, Detached Carport, Concrete, On Site
  • Total Parking Spaces: 18.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Range
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Pest Control Expense: 720.00
  • Sewer: Sewer Paid
  • Trash Expense: 4300.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights, Suburban

Lot Info

  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 18054.00
  • Lot Size Acres: 0.4140

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 3000.00
  • Gross Income: 21567.00
  • Gross Multiplier: 11.79
  • Gross Scheduled Income: 258801.00
  • Gross Spendable Income: 38584.00
  • Insurance Expense: 6000.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 18054.0000 Square Feet
  • Maintenance Expense: 6000.00
  • Net Operating Income: 106828.00
  • Number Of Separate Electric Meters: 18
  • Number Of Separate Gas Meters: 18
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 100
  • Number Of Units Total: 18
  • Operating Expense: 145412.00
  • Other Expense: 3380.00
  • Other Expense Description: Misc.
  • Rent Control: Yes
  • Total Actual Rent: 21567.00
  • Vacancy Allowance: 7764
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 38125.00
  • Tax Lot: 105
  • Tax Tract Number: 21019

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/29/2015 01/29/15 Sold $3,000,000 -1.6% $191 / Sq Ft
11/27/2014 11/27/14 Pending -- -- --
10/28/2014 10/28/14 For Sale $3,050,000 -- $195 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR14230237

California Regional Multiple Listing Service (CRMLS)