$1,150,000
SOLD JUN 18, 2025
3 Beds
2 Baths
3,078 Sq Ft
7,799 Sq Ft Lot

Recently Sold

$374 Per Sq Ft

4% Below List Price

About This Home

As of June 2025

Situated at 6709 Lemp Ave in the heart of North Hollywood, this property offers a unique blend of convenience, accessibility, and vibrant urban living. Featuring a unit mix of four 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit, this property is an excellent investment or leasing opportunity for those looking to cater to North Hollywood's thriving rental market. Its thoughtful design, combined with individually metered gas and electric utilities, ensures efficiency and tenant autonomy.Located near the dynamic NoHo Arts District, this property provides residents with access to a diverse array of cultural attractions, trendy dining spots, and entertainment venues. The proximity to the CA-170 freeway and major transit routes ensures easy commutes, while the short distance to Burbank Airport adds convenience for frequent travelers. On-site parking further enhances the property's appeal, offering added convenience for tenants and their guests.This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.Practicality meets accessibility with shopping centers like the Costco Business Center and Home Depot just moments away, ensuring all necessities are within reach. Additionally, the nearby transit options and vibrant retail hubs make this property an attractive choice for tenants seeking the perfect balance of work, play, and convenience. Whether you're an investor or tenant, 6709 Lemp Ave promises an ideal opportunity in a highly sought-after North Hollywood location.

Last Agent to Sell the Property

James Antonucci

Keller Williams Realty-Studio City Brokerage Phone: 818-381-6601 License #01822661 Listed on: 04/09/2025

Keller Williams Realty-Studio City

Co-Listed By

Mike Pesci

Keller Williams Studio City Brokerage Phone: 818-381-6601 License #01274379

Last Buyer's Agent

James Antonucci

Keller Williams Realty-Studio City Brokerage Phone: 818-381-6601 License #01822661 Listed on: 04/09/2025

Keller Williams Realty-Studio City

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1931

Lot Details

  • 7,799 Sq Ft Lot
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Home Design

  • Apartment

Interior Spaces

  • 3,078 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Parking

  • 5 Open Parking Spaces
  • 5 Parking Spaces

Location

  • Suburban Location

Listing and Financial Details

  • Tax Lot 125
  • Tax Tract Number 6025
  • Assessor Parcel Number 2320014017
  • $885 per year additional tax assessments
  • Seller Considering Concessions

Community Details

Building Details

  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,280
  • Fuel Expense $2,280
  • Gardener Expense $1,500
  • Insurance Expense $3,078
  • Maintenance Expense $3,974
  • Pest Control $900
  • Trash Expense $1,800
  • Water Sewer Expense $2,280
  • New Taxes Expense $15,000
  • Operating Expense $34,092
  • Gross Income $102,415
  • Net Operating Income $65,251

Additional Features

  • 5 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1931

Lot Details

0

Listing Details

  • CapRate: 5.44
  • Price Per Unit: 240000
  • Property Attached: Yes
  • Water Sewer Expenses: 2280.00
  • Zoning: LARD1.5
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1500.00
  • Parcel Number: 2320014017
  • Year Built: 1931
  • AgentOnly_SellerConsiderConcessionYN: Yes
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 373.62

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 5.00
  • Uncovered Spaces: 5.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Pest Control Expense: 900.00
  • Sewer: Public Sewer
  • Trash Expense: 1800.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 7799.00
  • Lot Size Acres: 0.1790

Multi Family

  • Electric Expense: 2280.00
  • Fuel Expense: 2280.00
  • Gross Income: 102415.00
  • Gross Multiplier: 11.72
  • Gross Operating Income: 99343.00
  • Gross Scheduled Income: 102415.00
  • Insurance Expense: 3078.00
  • Lot Size Area: 7799.0000 Square Feet
  • Maintenance Expense: 3974.00
  • Maintenance Percent: 8.60
  • Net Operating Income: 65251.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 5
  • Operating Expense: 34092.00
  • Rent Control: Yes
  • Total Expenses: 34092.00
  • Vacancy Allowance: 3072
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 15000.00
  • Tax Census Tract: 1232.05
  • Tax Lot: 125
  • Tax Tract Number: 6025
  • TaxOtherAnnualAssessmentAmount: 885.00

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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
06/18/2025 06/18/25 Sold $1,150,000 -4.2% $374 / Sq Ft
06/16/2025 06/16/25 For Sale $1,200,000 0.0% $390 / Sq Ft
04/09/2025 04/09/25 Pending -- -- --
04/09/2025 04/09/25 For Sale $1,200,000 +43.7% $390 / Sq Ft
04/14/2017 04/14/17 Sold $835,000 -1.6% $271 / Sq Ft
02/28/2017 02/28/17 Pending -- -- --
02/03/2017 02/03/17 For Sale $849,000 -- $276 / 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: SR25077944

California Regional Multiple Listing Service (CRMLS)