6843 Gentry Avenue

    North Hollywood, CA 91605
    • $5,495,000
    • STATUS: Active
    • ON SITE: 215 days
    • ID#: 19445020
    UPDATED: 10 min ago
    $5,495,000
    • 0
      BEDS
    • 0.55
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 19,230
      SQFT
    • $286
      $/SQFT
    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.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-20T07:33:55.4. 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

    6843 Gentry Avenue North Hollywood, CA 91605

    • Price: $5,495,000
    • Status: Active
    • Updated: 10 min ago
    • ID#: 19445020
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.55
    Acres
    19,230
    SQFT
    $286
    $/SQFT
    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 Lot Size Units Square Feet Parking Features Carport Parking YN Yes

    Interior Features

    Appliances None Appliances YN No Laundry Features None

    Property Features

    Gross Multiplier 13.60 Gross Operating Income 404048.00 Improvements Amount 1553332 Land Value 1863999 Laundry YN No Net Operating Income 237971.00 Special Listing Conditions Standard Total Expenses 153955.00 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 2019-10-20T07:33:55.4. 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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