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Multifamily

6716 Whitsett Ave

6716 Whitsett Ave, Los Angeles, CA 91606

Listing Price: $1,395,000

Cap Rate
4.49%
Number of Units
5
Occupancy
100.0%
Price/Unit
$279,000
Price/Gross SF
$302.21
Gross SF
4,616

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire a 5-unit asset located on the desirable Whitsett Avenue in the apartment community of North Hollywood. Over the past decade, North Hollywood has undergone a radical transformation into a dynamic environment that is attracting a wave of young, well-educated and high-wage earning residents. The property offers a current Cap rate of 4.49%, some remodeled units, 100% rent collection, and no seismic retrofit expenses. Rents can be increased post-Covid by the allowable pass-through amount for the retrofit correction. Units are large and bright and average 923 square feet of space. The convenient location and updated features of this asset represent a Value-Add opportunity that is well suited for strong returns over the investment period.

Investment Highlights

  • Seismic Retrofit Completed
  • Two Units Fully Remodeled
  • Additional income from Pass-through of Capital Improvements to Tenants Post Covid
  • Desirable North Hollywood Location
  • Unit Mix Consists of Three 2 Bedroom ( one and two baths) and Two 1 bedroom units
  • 5 On-Site Parking Spaces
  • 100% Rent Collection

Exclusively Listed By

Listing Price: $1,395,000

Cap Rate
4.49%
Number of Units
5
Occupancy
100.0%
Price/Unit
$279,000
Price/Gross SF
$302.21
Gross SF
4,616

Investment Highlights

  • Seismic Retrofit Completed
  • Two Units Fully Remodeled
  • Additional income from Pass-through of Capital Improvements to Tenants Post Covid
  • Desirable North Hollywood Location
  • Unit Mix Consists of Three 2 Bedroom ( one and two baths) and Two 1 bedroom units
  • 5 On-Site Parking Spaces
  • 100% Rent Collection

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire a 5-unit asset located on the desirable Whitsett Avenue in the apartment community of North Hollywood. Over the past decade, North Hollywood has undergone a radical transformation into a dynamic environment that is attracting a wave of young, well-educated and high-wage earning residents. The property offers a current Cap rate of 4.49%, some remodeled units, 100% rent collection, and no seismic retrofit expenses. Rents can be increased post-Covid by the allowable pass-through amount for the retrofit correction. Units are large and bright and average 923 square feet of space. The convenient location and updated features of this asset represent a Value-Add opportunity that is well suited for strong returns over the investment period.

Exclusively Listed By

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