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Multifamily

6050 Whitsett Ave

6050 Whitsett Ave, North Hollywood, CA 91606

Listing Price: $4,595,000

Cap Rate
3.36%
Number of Units
16
Price/Unit
$287,188
Price/Gross SF
$299.82
Gross SF
15,326

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 6050 Whitsett Avenue, a 16-unit multifamily property located in an excellent pocket of North Hollywood, CA, near the borders of Sherman Oaks and Valley Village. The two-story building sits mere blocks from the brand new NoHo West mixed-use development, which features over 570,000 square feet of retail, entertainment, residential, and office space. Major tenants at the site include Trader Joe’s, LA Fitness, Regal Cinemas, and Starbucks. Available for the first time in nearly 43 years, the property features large floorplans, with the 16 units comprised of approximately 15,326 square feet. The current owner has completed all seismic retrofit repairs (Buyer to verify), saving the new investor a substantial amount in capital improvement costs. The laundry facilities on-site are owned by the landlord, allowing a new owner to enjoy an additional income stream. Located near the intersection of Whitsett Avenue and Oxnard Street, the property allows tenants convenient access to the 170 Freeway. The NoHo Arts District, Ventura Boulevard, and Universal CityWalk are all within a short drive, affording tenants numerous dining, entertainment, and retail options. The property sits between two emerging employment centers, as large-scale new developments and offices continue to come online in Warner Center, while studios and entertainment campuses have been expanding in Burbank and Glendale.

Investment Highlights

  • Offered at an Attractive $299 per Square Foot
  • Available for Sale for First Time in Nearly 43 Years
  • Spacious Floorplans -- 15,326 Square Feet Spread Over 16 Units
  • Blocks from Massive Brand New NoHo West Development -- 25 Acres of Retail and Entertainment Destinations, Including Trader Joe's, Regal Cinemas, LA Fitness
  • Attractive Courtyard Surrounding a Sparkling Pool
  • All Seismic Retrofit Repairs Completed (Buyer to Verify)
  • Below Market Rents -- Opportunity to Improve Income by Approximately 27%
  • Detached Garage -- Potential ADU Conversion (Buyer to Verify)

Exclusively Listed By

Financing By

Multifamily

6050 Whitsett Ave

Listing Price: $4,595,000

Cap Rate
3.36%
Number of Units
16
Price/Unit
$287,188
Price/Gross SF
$299.82
Gross SF
15,326

Investment Highlights

  • Offered at an Attractive $299 per Square Foot
  • Available for Sale for First Time in Nearly 43 Years
  • Spacious Floorplans -- 15,326 Square Feet Spread Over 16 Units
  • Blocks from Massive Brand New NoHo West Development -- 25 Acres of Retail and Entertainment Destinations, Including Trader Joe's, Regal Cinemas, LA Fitness
  • Attractive Courtyard Surrounding a Sparkling Pool
  • All Seismic Retrofit Repairs Completed (Buyer to Verify)
  • Below Market Rents -- Opportunity to Improve Income by Approximately 27%
  • Detached Garage -- Potential ADU Conversion (Buyer to Verify)

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 6050 Whitsett Avenue, a 16-unit multifamily property located in an excellent pocket of North Hollywood, CA, near the borders of Sherman Oaks and Valley Village. The two-story building sits mere blocks from the brand new NoHo West mixed-use development, which features over 570,000 square feet of retail, entertainment, residential, and office space. Major tenants at the site include Trader Joe’s, LA Fitness, Regal Cinemas, and Starbucks. Available for the first time in nearly 43 years, the property features large floorplans, with the 16 units comprised of approximately 15,326 square feet. The current owner has completed all seismic retrofit repairs (Buyer to verify), saving the new investor a substantial amount in capital improvement costs. The laundry facilities on-site are owned by the landlord, allowing a new owner to enjoy an additional income stream. Located near the intersection of Whitsett Avenue and Oxnard Street, the property allows tenants convenient access to the 170 Freeway. The NoHo Arts District, Ventura Boulevard, and Universal CityWalk are all within a short drive, affording tenants numerous dining, entertainment, and retail options. The property sits between two emerging employment centers, as large-scale new developments and offices continue to come online in Warner Center, while studios and entertainment campuses have been expanding in Burbank and Glendale.

Exclusively Listed By

Financing By

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