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    6843 Gentry Avenue

    North Hollywood, CA 91605
    • $5,275,000
    • STATUS: Closed
    • ON SITE: 471 days
    • ID#: 19445020
    Sold - 12/31/2019
    $5,275,000
    SOLD - 12/31/2019
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    27 Units with 53%+/- upside in rents and a 4.82% Cash on Cash return. Also take a look at the cash flow analysis on page 29 of our OM to see a scenario that would achieve a 20.9% Average Annual ROI doubling your investment in 5 years. 13 of the units have already been upgraded with new kitchen cabinets, new bathrooms and new flooring, however they are not at market since the owner did not rehab the exterior of the building and the units will need to have the popcorn ceiling scraped, better showers installed and new windows. The good news is there is plenty of upside left for those units and the upgrade should only cost about $10,000/Unit. The property is within walking distance to the new "NoHo West" lifestyle center. This brand new development should provide similar property value and apartment rental increases in the surrounding areas much as "The Grove" in West LA or the "Americana at Brand" in Glendale provided. NoHoWest will include Amenity Rich Apts, retail/office, entertainment.

    Sold by Kelly Morgan of Keller Williams-Santa Monica.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-07-02T13:29:18.897. 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 or Allison James Estates and Homes. Licensed in the State of California, USA.

    www.teamforss.com/homes/92785218
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    6843 Gentry Avenue North Hollywood, CA 91605

    • Price: $5,495,000
    • Status: Closed
    • Updated: 88 min ago
    • ID#: 19445020
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1964
    Built
    Neighborhood:
    NHO - North Hollywood
    County:
    Los Angeles
    Area:
    NHO - North Hollywood
    Property Description
    27 Units with 53%+/- upside in rents and a 4.82% Cash on Cash return. Also take a look at the cash flow analysis on page 29 of our OM to see a scenario that would achieve a 20.9% Average Annual ROI doubling your investment in 5 years. 13 of the units have already been upgraded with new kitchen cabinets, new bathrooms and new flooring, however they are not at market since the owner did not rehab the exterior of the building and the units will need to have the popcorn ceiling scraped, better showers installed and new windows. The good news is there is plenty of upside left for those units and the upgrade should only cost about $10,000/Unit. The property is within walking distance to the new "NoHo West" lifestyle center. This brand new development should provide similar property value and apartment rental increases in the surrounding areas much as "The Grove" in West LA or the "Americana at Brand" in Glendale provided. NoHoWest will include Amenity Rich Apts, retail/office, entertainment.
    Exterior Features

    Lot Size Source Assessor Parking Features Carport Parking YN Yes

    Property Features

    Gross Income 391926.00 Gross Multiplier 13.60 Gross Operating Income 404048.00 Net Operating Income 237971.00 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0.00 Zoning Lard1.5

    Listing provided courtesy of Kelly Morgan of Keller Williams-Santa Monica


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-07-02T13:29:18.897. 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 or Allison James Estates and Homes. Licensed in the State of California, USA.

     
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    Temecula CA, 92592