Multifamily
6645 Farmdale Ave
6645 Farmdale Ave, North Hollywood, CA 91606
Listing Price: $1,980,000
Investment Overview
Marcus & Millichap is pleased to announce the opportunity to purchase 6645 Farmdale Avenue, a six-unit multifamily property consisting entirely of two- and three-bedroom apartments. Located near the border
of Burbank and North Hollywood, the property affords tenants convenient access to the revamped NoHo Arts District and the Burbank Empire Center. Constructed in 1961, the 5,869 square foot property occupies a 6,751 square foot parcel near the intersection of Lankershim Boulevard and Victory Boulevard.
With its solid pipeline of recent and upcoming development projects, North Hollywood has benefited from a strong influx of capital. The new NoHo West mixed-use development features a Trader Joe’s, Nordstrom Rack, Regal Cinema, LA Fitness, and several other shops and restaurants as its accompanying 644-unit multifamily development moves forward through construction. A proposed $1 billion mixed-use campus featuring approximately 22 million square feet of retail, restaurant, office, and residential space would come online just 1.6 miles south of the property. Several other projects are pending in the immediate area, including 119 apartments over ground floor retail at 6500 Lankershim Boulevard and another 243 multifamily units at 7035 Laurel Canyon Boulevard.
In addition to the major shopping centers nearby, tenants also enjoy convenient access to a brand new Target, Costco, The Home Depot, Smart & Final, and 99 Cents Only Store. The 5, 101, 134, and 170 Freeways are all within short driving distance, while mass transit is available at the North Hollywood Metro Station, which acts as a hub between the Metro Red Line and the Orange Line Busway.
6645 Farmdale Ave
Investment Highlights
- Excellent Unit Mix – All Two- and Three-Bedroom Units
- Current 5.02% CAP Rate with Rent Upside to Allow Increased Future Cash Flow
- Seismic Retrofit Repairs Completed (Buyer to Verify)
- Dense North Hollywood Location – 1.2 Miles to New NOHO West Mixed-Use Campus and 1.6 Miles to Proposed $1 Billion District NoHo Development
- Spacious Floorplans – 5,869 Square Feet Spread Over Six Units
- Quiet Neighborhood – Only Property on Entire Block with More than Three Units
- Less than One Mile from City of Burbank and Only 1.2 Miles from Trendy NoHo Arts District
- Additional Revenue Generated by On-Site Laundry Facilities
Exclusively Listed By
Financing By
Listing Price: $1,980,000
Investment Highlights
- Excellent Unit Mix – All Two- and Three-Bedroom Units
- Current 5.02% CAP Rate with Rent Upside to Allow Increased Future Cash Flow
- Seismic Retrofit Repairs Completed (Buyer to Verify)
- Dense North Hollywood Location – 1.2 Miles to New NOHO West Mixed-Use Campus and 1.6 Miles to Proposed $1 Billion District NoHo Development
- Spacious Floorplans – 5,869 Square Feet Spread Over Six Units
- Quiet Neighborhood – Only Property on Entire Block with More than Three Units
- Less than One Mile from City of Burbank and Only 1.2 Miles from Trendy NoHo Arts District
- Additional Revenue Generated by On-Site Laundry Facilities
Investment Overview
Marcus & Millichap is pleased to announce the opportunity to purchase 6645 Farmdale Avenue, a six-unit multifamily property consisting entirely of two- and three-bedroom apartments. Located near the border of Burbank and North Hollywood, the property affords tenants convenient access to the revamped NoHo Arts District and the Burbank Empire Center. Constructed in 1961, the 5,869 square foot property occupies a 6,751 square foot parcel near the intersection of Lankershim Boulevard and Victory Boulevard. With its solid pipeline of recent and upcoming development projects, North Hollywood has benefited from a strong influx of capital. The new NoHo West mixed-use development features a Trader Joe’s, Nordstrom Rack, Regal Cinema, LA Fitness, and several other shops and restaurants as its accompanying 644-unit multifamily development moves forward through construction. A proposed $1 billion mixed-use campus featuring approximately 22 million square feet of retail, restaurant, office, and residential space would come online just 1.6 miles south of the property. Several other projects are pending in the immediate area, including 119 apartments over ground floor retail at 6500 Lankershim Boulevard and another 243 multifamily units at 7035 Laurel Canyon Boulevard. In addition to the major shopping centers nearby, tenants also enjoy convenient access to a brand new Target, Costco, The Home Depot, Smart & Final, and 99 Cents Only Store. The 5, 101, 134, and 170 Freeways are all within short driving distance, while mass transit is available at the North Hollywood Metro Station, which acts as a hub between the Metro Red Line and the Orange Line Busway.
Exclusively Listed By
Financing By
