It is with great pleasure that I bring to you a fantastic non rent controlled apartment building for sale in North Hollywood. This 2-story 7-unit building is well maintained and has 12 parking spaces. Each unit consists of 1 bedroom and 1 bathroom. The front landscaping is well manicured and each unit has heating and air conditioning, along with on-site laundry.
Neighboring this property is a 12-unit small lot development project set to break ground in the following months. Just a couple of lots to the south on the corner, another 14-unit development project will begin construction.
Multifamily inventory is getting harder to come by in today's market, and this deal presents a great opportunity to enter the multifamily space, or add to your current portfolio. Just minutes away from the bustling NoHo Arts District, numerous development projects and much more. Great metrics for someone who wants a value-add deal and not deal with the headache of rent control.
Details of transaction:
6318 Beck Ave - North Hollywood
Sold Price: $1,235,000
Price per unit: $176,429
Price per square foot: $270.48
14.50 GRM | 4.04% CAP