6630 Whitsett Avenue

    Valley Glen, CA 91606
    • $4,850,000
    • STATUS: Active
    • ON SITE: 123 days
    • ID#: SR18251416
    UPDATED: 49 min ago
    $4,850,000
    • 0
      BEDS
    • 0.44
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 17,610
      SQFT
    • $275
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1977
    County:

    School Ratings & Info

    Description

    We are pleased to present the investment offering of 6630 Whitsett Avenue, a 26-unit apartment building comprised of singles, 1+1+GGs & 2+2+GGs. Situated within the North Hollywood (Valley Glen) sub-market of Los Angeles, this investment property provides a unique opportunity to maximize on the large potential upside in rents (roughly 35%). This rent-controlled asset was built in 1977 and has been upgraded with granite counter-tops (7 units), refurbished hardwood flooring (24 units) and tile throughout kitchen/bathroom (20 units). Brand new roof installed just 2.5 years ago. Adjacent parking lot included with sale (APN #2333-002-045). Current ownership has started the construction phase of the soft-story retrofit improvement, which will be completed prior to COE.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-17T18:30:02.89. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/88539174

    6630 Whitsett Avenue Valley Glen, CA 91606

    • Price: $4,850,000
    • Status: Active
    • Updated: 49 min ago
    • ID#: SR18251416
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.44
    Acres
    17,610
    SQFT
    $275
    $/SQFT
    1977
    Built
    Neighborhood:
    VG - Valley Glen
    County:
    Los Angeles
    Area:
    VG - Valley Glen
    Property Description
    We are pleased to present the investment offering of 6630 Whitsett Avenue, a 26-unit apartment building comprised of singles, 1+1+GGs & 2+2+GGs. Situated within the North Hollywood (Valley Glen) sub-market of Los Angeles, this investment property provides a unique opportunity to maximize on the large potential upside in rents (roughly 35%). This rent-controlled asset was built in 1977 and has been upgraded with granite counter-tops (7 units), refurbished hardwood flooring (24 units) and tile throughout kitchen/bathroom (20 units). Brand new roof installed just 2.5 years ago. Adjacent parking lot included with sale (APN #2333-002-045). Current ownership has started the construction phase of the soft-story retrofit improvement, which will be completed prior to COE.
    Exterior Features

    Garage Spaces 0.00 Lot Features Sprinklers None Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 32.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Central Cooling YN Yes Flooring TileWood Interior Features BalconyGranite CountersIntercom Laundry Features Community

    Property Features

    Additional Parcels Description 2333002045 Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.27 Community Features Valley Country Us Elevation Units Feet Gross Income 332859.00 Gross Multiplier 14.57 Gross Scheduled Income 332859.00 Insurance Expense 9000.00 Land Lease YN No Laundry Equipment Own Lease Lease Laundry Income 2312.00 Laundry YN Yes Net Operating Income 207240.00 New Construction YN No New Taxes Expense 62500.00 Number Of Separate Electric Meters 26 Number Of Separate Gas Meters 26 Number Of Separate Water Meters 0 Number Of Units Leased 26 Operating Expense 128119.00 Professional Management Expense 9423.00 Rent Control YN Yes Security Features Gated Community Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 22437.00 Total Expenses 128119.00 Trash Expense 4582.00 Water Sewer Expense 21588.00 Water Source Public Zoning Lar3

    Listing provided courtesy of Tyler Green of Jimmy Chi Min Ting


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-17T18:30:02.89. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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    Encinitas CA, 92024