NOT LISTED FOR SALE

Los Angeles, CA 91601

North Hollywood Neighborhood
18 Beds
18 Baths
15,045 Sq Ft
0.26 Acres

Last Sold April 05, 2019

Last sale price $4,575,000 $304 Per Sq Ft

108 Days on Market

Highlights

  • Gated Parking
  • Property is near public transit
  • Laundry Room
  • North Hollywood Senior High School Rated A
  • Card or Code Access
  • Central Air

About This Home

As of April 2019

This investment opportunity consists of a two-story apartment complex over on-grade parking and contains 14-units constructed in 1988. This building is approximately 15,048 square feet situated on approximately 11,249 square feet of land. Unit Mix is comprised of 2- 1 bedroom 1 bathroom, 2- 1 bedroom + loft 1 ½ bathroom and 10- 2 bedroom 2 bathroom units. Each unit has central heating and air condition and also feature gas burning fireplace, dishwasher, double sink with garbage disposal, gas range/oven with hood combination and refrigerator. Some units have balconies. The building amenities consist of laundry room, controlled access to building and secure parking for 25 cars. The property is separately metered for gas and electric. Rents are currently below market offering upside potential of approximately 11%+/-. Since the building was built in 1988 it is currently NOT subject to City of Los Angeles rent control ordinance. The property is located in the North Hollywood area of Los Angeles approximately ½ mile east of the Hollywood Freeway (170) and approximately ½ mile from Metro Redline North Hollywood Station and just about 1 mile from the NOHO Arts District. The building is conveniently located for tenants shopping and transportation needs. Property sold "as-is", Seller will make no repairs. Buyer to make their own independent investigation including income and expense and condition of the property.

Last Agent to Sell the Property

Steven Weinberg

Citadel Ventures, Inc. License #00857322 Listed on: 10/10/2018

Last Buyer's Agent

Raymond Rodriguez

Equity Union License #01402283

Equity Union

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1988

Lot Details

  • 0.26 Acre Lot
  • Two or More Common Walls

Parking

  • 25 Car Garage
  • Parking Available
  • Front Facing Garage
  • Driveway Down Slope From Street
  • Gated Parking
  • Parking Lot
  • Controlled Entrance
  • Community Parking Structure

Home Design

  • Property Attached
  • Raised Foundation
  • Stucco

Interior Spaces

  • 15,045 Sq Ft Home
  • 1-Story Property
  • Electric Fireplace
  • Gas Fireplace

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 18 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Location

  • Property is near public transit

Utilities

  • Central Air
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 49
  • Tax Tract Number 7637
  • Assessor Parcel Number 2338022012

Community Details

Building Details

  • 14 Leased Units
  • 14 Separate Electric Meters
  • 14 Separate Gas Meters
  • Electric Expense $2,401
  • Fuel Expense $3,490
  • Gardener Expense $2,160
  • Insurance Expense $7,052
  • Maintenance Expense $24,933
  • Other Expense $2,917
  • Professional Management Expense $11,279
  • Trash Expense $7,311
  • Water Sewer Expense $7,101
  • New Taxes Expense $56,875
  • Operating Expense $126,612
  • Gross Income $288,684
  • Net Operating Income $153,411

Additional Features

  • 14 Units
  • Laundry Facilities
  • Card or Code Access

Property Details

Home Type

Multi-Family

Year Built

Built in 1988

Lot Details

0

Parking

25

Listing Details

  • Assessments: Yes
  • Other Phone Description: Cell
  • Other Phone Number: 818-646-7653
  • Price Per Unit: 325000
  • Professional Management Expense: 11279.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Card/Code Access
  • Water Sewer Expenses: 7101.00
  • Zoning: LAR3
  • Property Type: Residential Income
  • Gardener Expense: 2160.00
  • Parcel Number: 2338022012
  • Year Built: 1988
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 1
  • Common Walls: 2+ Common Walls
  • Fireplace Features: Electric, Gas
  • Levels: One
  • Price Per Square Foot: 304.09

Exterior Features

  • Foundation: Raised
  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 25.00
  • Parking: Yes
  • Parking Features: Community Structure, Controlled Entrance, Driveway Down Slope From Street, Garage Faces Front, Gated, On Site, Parking Space
  • Total Parking Spaces: 25.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected
  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 7311.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 10000-19999 Sqft, Near Public Transit
  • Lot Size Sq Ft: 11250.00
  • Lot Size Acres: 0.2583
  • Latitude Manual: 34.17457400

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 2401.00
  • Fuel Expense: 3490.00
  • Gross Income: 288684.00
  • Gross Operating Income: 280023.00
  • Gross Scheduled Income: 288684.00
  • Gross Spendable Income: 153411.00
  • Insurance Expense: 7052.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 1460.00
  • Lot Size Area: 11250.0000 Square Feet
  • Maintenance Expense: 24933.00
  • Net Operating Income: 153411.00
  • Number Of Separate Electric Meters: 14
  • Number Of Separate Gas Meters: 14
  • Number Of Units Leased: 14
  • Number Of Units Total: 14
  • Operating Expense: 126612.00
  • Operating Expense Percent: 43.86
  • Other Expense: 2917.00
  • Other Income1: 508.00
  • Other Income Description: SCEP Reimbursement
  • Rent Control: No
  • Total Actual Rent: 23895.00
  • Total Expenses: 126612.00
  • Vacancy Allowance: 8661
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 56875.00
  • Tax Census Tract: 1241.02
  • Tax Lot: 49
  • Tax Tract Number: 7637

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 Change Sq Ft Price
04/05/2019 04/05/19 Sold $4,575,000 +0.5% $304 / Sq Ft
01/26/2019 01/26/19 Pending -- -- --
10/10/2018 10/10/18 For Sale $4,550,000 -- $302 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Steven Weinberg

    Seller's Agent in 2019

    Steven Weinberg

    Citadel Ventures, Inc.

    (818) 992-4896

    13 Total Sales

    Section Image

  • R

    Buyer's Agent in 2019

    Raymond Rodriguez

    Equity Union

    (805) 892-8119

    35 Total Sales

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Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR18298184

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Los Angeles 91601

North Hollywood

This home since 10 October 2018. This property was built in 1988. This home is a home located in Los Angeles County with nearby schools including Maurice Sendak Elementary School, Roy Romer Middle School, and North Hollywood Senior High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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