NOT LISTED FOR SALE

5965 Whitnall Hwy North Hollywood, CA 91601

North Hollywood Neighborhood

Estimated Value: $929,549 - $1,076,000

6 Beds
4 Baths
2,392 Sq Ft
$423/Sq Ft Est. Value

Last Sold May 22, 2024

Last sale price $1,000,000 $418 Per Sq Ft

Est. 1% increase in value since last sale

Current estimated payment $5,581/month

11 Days on Market

About This Home

As of May 2024

We are pleased to present a 4 unit value add investment opportunity near Oxnard and Vineland in North Hollywood with approximately 34% rental upside! Excellent unit mix of two 2 bedroom / 1 bath units and 2 one bedroom / 1 bath units. The well-maintained building features a brand new roof, new windows, and in-unit improvements such as granite countertops, remodeled bathrooms, and updated flooring. Uncovered parking in the front of the building with 4 parking spaces which may be converted to ADUs for additional rental income. Minutes away from the new NoHo West Shopping Center, NoHo Arts District, Burbank Airport, and the numerous restaurants, theaters, and art galleries on Lankershim Boulevard, the property is in a booming rental market, making it a solid investment opportunity.

Last Agent to Sell the Property

Anie Mayelian

Keller Williams Realty Calabasas License #00778825 Listed on: 04/04/2024

Keller Williams Realty Calabasas

Co-Listed By

Aleen Mayelian

Keller Williams Realty Calabasas License #02198281

Keller Williams Realty Calabasas

Last Buyer's Agent

Aleen Mayelian

Keller Williams Realty Calabasas License #02198281

Keller Williams Realty Calabasas

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,460

Year Built

  • Built in 1954

Lot Details

  • 5,079 Sq Ft Lot
  • 1 Common Wall
  • Density is up to 1 Unit/Acre

Home Design

  • Quadruplex
  • Entry on the 1st floor

Interior Spaces

  • 2,392 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Legal Lot and Block 16 / 8
  • Tax Tract Number 9854
  • Assessor Parcel Number 2415012027
  • $395 per year additional tax assessments

Community Details

Overview

  • 4 Units

Recreation

  • Park

Building Details

  • 4 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,185
  • Gardener Expense $1,080
  • Insurance Expense $2,000
  • Maintenance Expense $2,400
  • New Taxes Expense $12,500
  • Operating Expense $20,165
  • Gross Income $73,805
  • Net Operating Income $51,425

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,460

Year Built

Built in 1954

Lot Details

0

Listing Details

  • CapRate: 5.10
  • Property Attached: Yes
  • Zoning: LAC2
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 1080.00
  • Parcel Number: 2415012027
  • Year Built: 1954
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 1 Common Wall
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 418.06

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 4.00
  • Uncovered Spaces: 4.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Park, Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 5079.00
  • Lot Size Acres: 0.1166

Multi Family

  • Electric Expense: 2185.00
  • Gross Income: 73805.00
  • Gross Multiplier: 13.60
  • Gross Operating Income: 71591.00
  • Gross Scheduled Income: 73805.00
  • Insurance Expense: 2000.00
  • Lot Size Area: 5079.0000 Square Feet
  • Maintenance Expense: 2400.00
  • Net Operating Income: 51425.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 20165.00
  • Rent Control: Yes
  • Total Actual Rent: 73675.00
  • Total Expenses: 20165.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 12500.00
  • Tax Block: 8
  • Tax Census Tract: 1243.00
  • Tax Lot: 16
  • Tax Tract Number: 9854
  • TaxOtherAnnualAssessmentAmount: 395.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 4, 2024
Closed on
Apr 23, 2024
Sold by
Chang Trust and Chang Leticia
Bought by
Soltane Ben
Seller's Agent
Anie Mayelian
Keller Williams Realty Calabasas
Buyer's Agent
Aleen Mayelian
Keller Williams Realty Calabasas
List Price
$1,000,000
Sold Price
$1,000,000
Views
34
Current Estimated Value
$1,011,137

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$11,137
Avg. Annual Appreciation
0.78%
Original Mortgage
$700,000
Outstanding Balance
$689,541
Interest Rate
6.88%
Mortgage Type
New Conventional
Estimated Equity
$321,596

Purchase Details

Closed on
Aug 21, 2014
Sold by
Chang Leticia
Bought by
Chang Leticia and The Chang Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$284,200
Interest Rate
4.11%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 27, 2013
Sold by
Chang Leticia
Bought by
Chang Leticia and Chang Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$283,992
Interest Rate
4.57%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 9, 2008
Sold by
Chang Leticia
Bought by
Chang Leticia and The Chang Trust

Purchase Details

Closed on
May 16, 1997
Sold by
Federal National Mortgage Association
Bought by
Chang Leticia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$155,200
Interest Rate
8.13%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Feb 5, 1997
Sold by
Delvalle Herbert and Delvalle Evelyn
Bought by
Federal National Mortgage Association
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Soltane Ben $1,000,000 Lawyers Title
Chang Leticia -- First American Title Company
Chang Leticia -- First American Title Company
Chang Leticia -- First American Title Company
Chang Leticia -- First American Title Company
Chang Leticia -- None Available
Chang Leticia $135,000 Investors Title Company
Federal National Mortgage Association $130,000 Stewart Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Soltane Ben $700,000
Previous Owner Chang Leticia $284,200
Previous Owner Chang Leticia $283,992
Previous Owner Chang Leticia $155,200
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/22/2024 05/22/24 Sold $1,000,000 0.0% $418 / Sq Ft
04/15/2024 04/15/24 Pending -- -- --
04/04/2024 04/04/24 For Sale $1,000,000 -- $418 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

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 $3,460 $1,020,000 $765,000 $255,000
2024 $3,460 $255,454 $159,663 $95,791
2023 $3,399 $250,446 $156,533 $93,913
2022 $3,250 $245,536 $153,464 $92,072
2021 $3,199 $240,722 $150,455 $90,267
2019 $3,110 $233,585 $145,994 $87,591
2018 $3,027 $229,006 $143,132 $85,874
2016 $2,872 $220,116 $137,575 $82,541
2015 $2,833 $216,811 $135,509 $81,302
2014 $2,869 $212,565 $132,855 $79,710
Source: Public Records

Agents Affiliated with this Home

  • Anie Mayelian

    Seller's Agent in 2024

    Anie Mayelian

    Keller Williams Realty Calabasas

    (818) 915-9118

    1 in this area

    29 Total Sales

    Anie Mayelian
    Section Image
  • Aleen Mayelian

    Seller Co-Listing Agent in 2024

    Aleen Mayelian

    Keller Williams Realty Calabasas

    (818) 442-1678

    1 in this area

    12 Total Sales

    Aleen Mayelian
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR24066611

California Regional Multiple Listing Service (CRMLS)

APN: 2415-012-027

California Los Angeles County North Hollywood 91601 North Hollywood

5965 Whitnall Hwy, North Hollywood, CA

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