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Multifamily

6945 Hinds Ave

6945 Hinds Ave, North Hollywood, CA 91605

Listing Price: $2,000,000

Cap Rate
5.00%
Number of Units
10
GRM
11.78
Price/Unit
$200,000
Price/Gross SF
$238.61
Gross SF
8,382

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 6945 Hinds Avenue, a 10-unit multifamily property in North Hollywood, CA. Constructed in 1963, the property sits on a corner lot and contains mostly two-bedroom units. A new investor may be able to add significant value to the asset as current rents sit well below those of similar neighboring properties. With approximately 62% rent upside, the investment provides a long runway for future income growth.

Fortunately for a new investor, the property’s expensive seismic retrofit repairs have already been completed (Buyer to verify). The building also features upgraded electrical panels, vinyl windows, and an upgraded roof, helping the owner to save on maintenance, utility, and insurance costs. There is on-site parking for 12 vehicles, while the laundry facilities provide a supplemental income stream for the owner.

Located near the intersection of Laurel Canyon Boulevard and Vanowen Street, the property allows tenants convenient access to the 5 and 170 Freeways. The recently constructed NOHO West shopping center sits just one mile from the property, offering a convenient shopping and dining destination for residents. In addition to the Trader Joe’s, Nordstrom Rack, LA Fitness, and Regal Cinemas featured in that center, the local neighborhood also includes Costco, Home Depot, and Target.

Investment Highlights

  • Excellent Unit Mix – Almost Entirely Two-Bedroom Units
  • Tremendous Repositioning Opportunity – Current Rents Approximately 62% Below Market
  • All Seismic Retrofit Repairs Completed (Buyer to Verify)
  • Upgraded Electrical Panels, Roof, and Vinyl Windows
  • One Mile from NOHO West Shopping Center Featuring Trader Joe's, Nordstrom Rack, LA Fitness, and Regal Cinemas
  • Corner Lot with Visibility on Both Hart Street and Hinds Avenue
  • Additional Income Stream Provided via On-Site Laundry Facilities

Exclusively Listed By

Financing By

Multifamily

6945 Hinds Ave

Listing Price: $2,000,000

Cap Rate
5.00%
Number of Units
10
GRM
11.78
Price/Unit
$200,000
Price/Gross SF
$238.61
Gross SF
8,382

Investment Highlights

  • Excellent Unit Mix – Almost Entirely Two-Bedroom Units
  • Tremendous Repositioning Opportunity – Current Rents Approximately 62% Below Market
  • All Seismic Retrofit Repairs Completed (Buyer to Verify)
  • Upgraded Electrical Panels, Roof, and Vinyl Windows
  • One Mile from NOHO West Shopping Center Featuring Trader Joe's, Nordstrom Rack, LA Fitness, and Regal Cinemas
  • Corner Lot with Visibility on Both Hart Street and Hinds Avenue
  • Additional Income Stream Provided via On-Site Laundry Facilities

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 6945 Hinds Avenue, a 10-unit multifamily property in North Hollywood, CA. Constructed in 1963, the property sits on a corner lot and contains mostly two-bedroom units. A new investor may be able to add significant value to the asset as current rents sit well below those of similar neighboring properties. With approximately 62% rent upside, the investment provides a long runway for future income growth. Fortunately for a new investor, the property’s expensive seismic retrofit repairs have already been completed (Buyer to verify). The building also features upgraded electrical panels, vinyl windows, and an upgraded roof, helping the owner to save on maintenance, utility, and insurance costs. There is on-site parking for 12 vehicles, while the laundry facilities provide a supplemental income stream for the owner. Located near the intersection of Laurel Canyon Boulevard and Vanowen Street, the property allows tenants convenient access to the 5 and 170 Freeways. The recently constructed NOHO West shopping center sits just one mile from the property, offering a convenient shopping and dining destination for residents. In addition to the Trader Joe’s, Nordstrom Rack, LA Fitness, and Regal Cinemas featured in that center, the local neighborhood also includes Costco, Home Depot, and Target.

Exclusively Listed By

Financing By

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