5651 Case Ave North Hollywood, CA 91601
North Hollywood NeighborhoodEstimated payment $22,842/month
Highlights
- Contemporary Architecture
- Recessed Lighting
- Central Heating and Cooling System
- Tandem Parking
- Attached Carport
About This Home
ELIGIBLE FOR 100% BONUS DEPRECIATION WITH ESTIMATED YEAR 1 FEDERAL TAX DEDUCTIONS OF APPROXIMATELY $193,000, VERIFIED BY A LEGITIMATE COST SEGREGATION EXPERT! NO RENT CONTROL VIA SB-8 EXEMPT STATUS AND FULLY STABILIZED/RENTED OUT AT $24,320/MONTH! Welcome to "The Case V", a brand-new and FULLY STABILIZED 2025 townhome-style apartment building situated in the heart of the North Hollywood Arts District, adjacent to Toluca Lake. Built with a Senate Bill 8 exemption, this property is not subject to radical Los Angeles rent control, making it an exceptional investment opportunity. The property consists of four units plus an ADU, totaling 9,127 square feet on a spacious 7,000-square-foot lot. The well-designed unit mix includes two 5-bedroom, 4-bathroom units, one 3-bedroom, 3.5-bathroom ADU, and one 5-bedroom, 5-bathroom unit. Each unit features in-unit washer and dryer, hardwood floors, stainless steel appliances, and recessed lighting, offering residents a luxurious and modern living experience. Listed at just $3,995,000, this turnkey investment delivers an ACTUAL 5.11% CAP rate (factoring in conservative 30% operating expenses typically calculated by conventional banks) in a prime location with many other new construction properties on the same street. Built with class and elegance by Thornton Development Group, this property showcases high-end finishes and meticulous craftsmanship. Nestled in a quiet residential neighborhood surrounded by newly constructed homes, 5651 Case Ave offers the perfect balance of tranquility and accessibility. Residents will enjoy close proximity to the vibrant energy of the North Hollywood Arts District and the prestige of Toluca Lake. Don't miss out on this exceptional investment opportunity to secure your place in one of Los Angeles' most sought-after rental markets today! Request OM and cost segregation estimate for bonus depreciation from the listing agent.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 2025
Lot Details
- 6,986 Sq Ft Lot
- Lot Dimensions are 50x140
Home Design
- Contemporary Architecture
Interior Spaces
- 9,127 Sq Ft Home
- 3-Story Property
- Recessed Lighting
Kitchen
- Oven or Range
- Microwave
- Freezer
- Dishwasher
Bedrooms and Bathrooms
- 23 Bedrooms
- 20 Bathrooms
Laundry
- Dryer
- Washer
Parking
- 10 Parking Spaces
- Attached Carport
- Tandem Parking
- Driveway
Utilities
- Central Heating and Cooling System
Listing and Financial Details
- Assessor Parcel Number 2337-029-017
Community Details
Overview
- 2 Buildings
- 5 Units
Building Details
- Vacancy Allowance $11,731
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $18,191 | $1,524,900 | $1,122,000 | $402,900 |
| 2024 | $18,191 | $1,495,000 | $1,100,000 | $395,000 |
| 2023 | $14,648 | $1,200,000 | $960,000 | $240,000 |
| 2022 | $6,186 | $516,343 | $271,755 | $244,588 |
| 2021 | $6,104 | $506,220 | $266,427 | $239,793 |
| 2019 | $5,920 | $491,208 | $258,526 | $232,682 |
| 2018 | $5,861 | $481,577 | $253,457 | $228,120 |
| 2016 | $5,591 | $462,879 | $243,616 | $219,263 |
| 2015 | $5,509 | $455,927 | $239,957 | $215,970 |
| 2014 | $5,531 | $446,997 | $235,257 | $211,740 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/06/2026 02/06/26 | For Sale | $3,995,000 | +167.2% | $438 / Sq Ft | |
| 10/12/2023 10/12/23 | Sold | $1,495,000 | 0.0% | $931 / Sq Ft | View Prior Sale |
| 10/12/2023 10/12/23 | Pending | -- | -- | -- | |
| 10/12/2023 10/12/23 | For Sale | $1,495,000 | +24.6% | $931 / Sq Ft | |
| 09/23/2022 09/23/22 | Sold | $1,200,000 | 0.0% | $748 / Sq Ft | View Prior Sale |
| 09/08/2022 09/08/22 | Pending | -- | -- | -- | |
| 09/07/2022 09/07/22 | For Sale | $1,200,000 | -- | $748 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $1,495,000 | Provident Title Company | |
| Grant Deed | -- | None Listed On Document | |
| Grant Deed | $1,200,000 | Lawyers Title | |
| Grant Deed | $400,000 | Progressive Title Company | |
| Quit Claim Deed | -- | None Available | |
| Grant Deed | $280,000 | Lawyers Title | |
| Grant Deed | $551,000 | Equity Title Company | |
| Grant Deed | -- | Multiple | |
| Grant Deed | $135,000 | Gateway Title |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $2,787,000 | Construction | |
| Previous Owner | $394,685 | FHA | |
| Previous Owner | $440,800 | Purchase Money Mortgage | |
| Previous Owner | $154,000 | Purchase Money Mortgage | |
| Previous Owner | $121,400 | No Value Available |
Source: The MLS
MLS Number: 26646863
APN: 2337-029-017
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
© 2026 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
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