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26755911
26755910

13061 Vanowen Street, North Hollywood, CA 91605 For Sale

CH
CA 00885625
Equity Union
Listed by Equity Union
$5,700,000
318 days on market
Updated 5 days ago
Opportunity zone

13061 Vanowen Street

Details
APN 2327025016
Property Type Multifamily
Sub Type Apartment Building
Square Footage 24,614
Net Rentable (SqFt) 24,614
Units 27
Cap Rate 6%
NOI $342,015
Pro-Forma Cap Rate 9.62%
Pro-Forma NOI $548,206
Price per SqFt $232
Year Built 1962
Buildings 1
Stories 2
Acreage 0.560
Zoning Assessor

Multifamily | 27 Units | $211,111/unit

Marketing description

We are proud to represent this 27 unit property in North Hollywood. The property was constructed in 1962. Its unit mix consists of (27) 2+1 units. With a lot size of 24,371 square feet, the property has a total of 24,614 rentable square feet. North Hollywood offers many things to see and do, especially in its NoHo Arts District, which has been greatly expanding into a hip, pedestrian-friendly urban village. North Hollywood has historic shopping and interesting local restaurants and bars that make it a diverse, thriving neighborhood. It is home to many theatres, art galleries, cafes, music recording venues, and shops. Its residents have easy access of public transportation with the Metro rail stations and the North Hollywood Red Line and Orange line bus ways. They also have easy access to the 101, 170, and 134 freeways. North Hollywood is currently working on a $1 billion mixed-use development at Lankershim and Chandler; the project will re-develop 15.6 acres of commercial and residential space, including 562 residential units and three high-rise office towers. This, combined with an already thriving Arts District, makes North Hollywood a smart place to invest.

Investment highlights

  • 27 units in nice rental pocket of Valley Glen

  • Excellent unit mix consisting of (27) 2+1 units

  • Large spacious units

  • Substantial upside in existing rents

  • Newer windows, copper plumbing, updated electrical

  • Property has a rec room that has ADU potential

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Listing Contacts

CH
CA 00885625
Equity Union
Listed by Equity Union

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$342,015.00
$28,501.25/mo

Valuation Metrics

0
DSCR
6%
Cap Rate
6%
ROI

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