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Multifamily

6028-6034 Colfax Ave

6028-6034 Colfax Ave, North Hollywood, CA 91606

Listing Price: $1,295,000

Cap Rate
3.06%
Number of Units
4
Price/Unit
$323,750
Price/Gross SF
$483.75
Gross SF
2,677

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 6028-6034 Colfax Avenue, a four-unit multifamily property located in North Hollywood, CA, blocks from both the NoHo Arts District and Valley Village. The property includes a single-family home, a duplex, and a separate unit above the parking garages, all situated on a large 9,709 square foot lot. A new owner may take advantage of the opportunity to add value by implementing a renovation strategy that may eventually recapture the approximate 30 percent rent upside. Located near the intersection of Lankershim Boulevard and Oxnard Street, the property is just four blocks from the brand new 25-acre NoHo West development, a 570,000 square foot mixed-use project featuring several major retail and entertainment tenants, including Trader Joe’s, Regal Cinemas, and Starbucks. The property provides tenants with both private garage and open parking, while public transportation is readily available as well. The North Hollywood Metro Station is only 1.1 miles from the property, allowing residents convenient access to both the Red Line and Orange Line through the San Fernando Valley’s largest public transportation hub.

Investment Highlights

  • Potential for Investor to Secure Favorable Residential Financing to Improve Cash Flow
  • Large 9,709 SF Lot Zoned LAR3 Within a Qualified Opportunity Zone (Buyer to Verify)
  • Value-Add Candidate -- Chance to Upgrade Interiors to Increase Future Cash Flow
  • Blocks from Brand New NoHo West Development -- 25 Acre Mixed-Use Destination Featuring Trader Joe's, Regal Cinemas, Starbucks, and Several Other Retailers
  • Attractive Price per Unit and Price per Square Foot Compared to Similar Recent Sales in the Area
  • Outstanding Location Near Borders of NoHo Arts District and Valley Village
  • Substantial Rent Upside -- Opportunity to Increase Rents by Approximately 30 Percent Above Current Levels
  • Private Garage Parking and Ample Open Parking Spaces for Tenants

Exclusively Listed By

Listing Price: $1,295,000

Cap Rate
3.06%
Number of Units
4
Price/Unit
$323,750
Price/Gross SF
$483.75
Gross SF
2,677

Investment Highlights

  • Potential for Investor to Secure Favorable Residential Financing to Improve Cash Flow
  • Large 9,709 SF Lot Zoned LAR3 Within a Qualified Opportunity Zone (Buyer to Verify)
  • Value-Add Candidate -- Chance to Upgrade Interiors to Increase Future Cash Flow
  • Blocks from Brand New NoHo West Development -- 25 Acre Mixed-Use Destination Featuring Trader Joe's, Regal Cinemas, Starbucks, and Several Other Retailers
  • Attractive Price per Unit and Price per Square Foot Compared to Similar Recent Sales in the Area
  • Outstanding Location Near Borders of NoHo Arts District and Valley Village
  • Substantial Rent Upside -- Opportunity to Increase Rents by Approximately 30 Percent Above Current Levels
  • Private Garage Parking and Ample Open Parking Spaces for Tenants

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 6028-6034 Colfax Avenue, a four-unit multifamily property located in North Hollywood, CA, blocks from both the NoHo Arts District and Valley Village. The property includes a single-family home, a duplex, and a separate unit above the parking garages, all situated on a large 9,709 square foot lot. A new owner may take advantage of the opportunity to add value by implementing a renovation strategy that may eventually recapture the approximate 30 percent rent upside. Located near the intersection of Lankershim Boulevard and Oxnard Street, the property is just four blocks from the brand new 25-acre NoHo West development, a 570,000 square foot mixed-use project featuring several major retail and entertainment tenants, including Trader Joe’s, Regal Cinemas, and Starbucks. The property provides tenants with both private garage and open parking, while public transportation is readily available as well. The North Hollywood Metro Station is only 1.1 miles from the property, allowing residents convenient access to both the Red Line and Orange Line through the San Fernando Valley’s largest public transportation hub.

Exclusively Listed By

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