Multifamily

5263 Riverton Ave

5263 Riverton Ave, Los Angeles, CA 91601

Listing Price: $1,900,000

Cap Rate
4.52%
Number of Units
8
Price/Unit
$237,500
Price/Gross SF
$298.27
Gross SF
6,370

Investment Overview

Marcus & Millichap is pleased to present 5263 Riverton Avenue, an (8) eight unit apartment building in North Hollywood. Built in 1963, the property boasts a strong unit mix of (5) five 2 bedroom/1 bathroom units and (3) three 1 bedroom/1 bathroom units. The property has covered parking for all of the tenants and provides tenants with on-site laundry facilities. This property will be delivered with (2) two vacant 2 bedroom units. One of the vacant units has been remodeled with granite countertops in the kitchen, bathroom, and bar area; laminate floors in the kitchen and entry area; the popcorn ceilings were removed, new windows were installed, new ceiling fans were installed in the bedrooms, and a new vanity and a new shower/tub were installed in the bathroom. This will allow an investor to immediately release the unit at market rent. However, the second vacant unit has not been upgraded, giving the new owner the opportunity to remodel and re-lease the unit at market rent or choose to re-lease the unit as is. Located South of Burbank Blvd, 5263 Riverton is located less than a mile from the North Hollywood Arts District, and less than a mile from Burbank. Tenants are walking distance to the North Hollywood Red & Orange Line Stations, as well as Ralphs, Walgreens, 24 Hour Fitness, Kaiser Permanente Medical Center, Floyd's Barbershop, Magnolia Park, and numerous restaurants like The Habit, Pit Fire Pizza, Porto's, and Joe's American Bar and Grill. 5263 Riverton is located close to the 134, 101, 170, and 5 Freeways, making it a prime location for commuters who work throughout the San Fernando Valley. In addition, the property is a short drive from Walt Disney Studios, Universal Studios, Warner Brothers Studios, CBS, and numerous production companies. North Hollywood has also seen newer multifamily and mixed-use development projects that exemplify the investor confidence in the neighborhood. These newer developments have made the area more attractive for major retailers and tenants and have been the cause of higher rents and low vacancy rates.

Investment Highlights

  • No Soft-Story Retrofit Required
  • Delivered with (2) 2 bed/1 bath units vacant
  • Value-addopportunity
  • Desirable unit mix of (5) 2 bed/1 bath units and (3) 1 bed/1 bath units
  • Within one mile of North Hollywood Arts District
  • Multiple new developments in the neighborhood
  • Located in an Opportunity Zone
  • On Site Parking

Exclusively Listed By

Listing Price: $1,900,000

Cap Rate
4.52%
Number of Units
8
Price/Unit
$237,500
Price/Gross SF
$298.27
Gross SF
6,370

Investment Highlights

  • No Soft-Story Retrofit Required
  • Delivered with (2) 2 bed/1 bath units vacant
  • Value-addopportunity
  • Desirable unit mix of (5) 2 bed/1 bath units and (3) 1 bed/1 bath units
  • Within one mile of North Hollywood Arts District
  • Multiple new developments in the neighborhood
  • Located in an Opportunity Zone
  • On Site Parking

Investment Overview

Marcus & Millichap is pleased to present 5263 Riverton Avenue, an (8) eight unit apartment building in North Hollywood. Built in 1963, the property boasts a strong unit mix of (5) five 2 bedroom/1 bathroom units and (3) three 1 bedroom/1 bathroom units. The property has covered parking for all of the tenants and provides tenants with on-site laundry facilities. This property will be delivered with (2) two vacant 2 bedroom units. One of the vacant units has been remodeled with granite countertops in the kitchen, bathroom, and bar area; laminate floors in the kitchen and entry area; the popcorn ceilings were removed, new windows were installed, new ceiling fans were installed in the bedrooms, and a new vanity and a new shower/tub were installed in the bathroom. This will allow an investor to immediately release the unit at market rent. However, the second vacant unit has not been upgraded, giving the new owner the opportunity to remodel and re-lease the unit at market rent or choose to re-lease the unit as is. Located South of Burbank Blvd, 5263 Riverton is located less than a mile from the North Hollywood Arts District, and less than a mile from Burbank. Tenants are walking distance to the North Hollywood Red & Orange Line Stations, as well as Ralphs, Walgreens, 24 Hour Fitness, Kaiser Permanente Medical Center, Floyd's Barbershop, Magnolia Park, and numerous restaurants like The Habit, Pit Fire Pizza, Porto's, and Joe's American Bar and Grill. 5263 Riverton is located close to the 134, 101, 170, and 5 Freeways, making it a prime location for commuters who work throughout the San Fernando Valley. In addition, the property is a short drive from Walt Disney Studios, Universal Studios, Warner Brothers Studios, CBS, and numerous production companies. North Hollywood has also seen newer multifamily and mixed-use development projects that exemplify the investor confidence in the neighborhood. These newer developments have made the area more attractive for major retailers and tenants and have been the cause of higher rents and low vacancy rates.

Exclusively Listed By

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