5312 Cartwright Ave North Hollywood, CA 91601
Multifamily Property in North Hollywood
SOLD: $2,830,000 CAP RATE: 3.6% GRM: 17.1 PRICE PER SQUARE FOOT: $334
Built in 1991 by the current owners, the subject property has been well maintained and does not fall under the LA City Rent Control Ordinance— only the statewide AB 1482. The unit mix is comprised of (One) studio, (One) 1-Bedroom/1.5-Bathroom + Loft, (Five) 2-Bedroom/2- Bathroom, and (One) 2-Bedroom/2.5-Bathroom + Loft totaling approximately 8,475 SF of rental space sitting on approximately 6,750 SF of land—R3 zoned. Furthermore, four of the units on the top floor offer high ceiling and lots of light.
This building has an on-site laundry facility and 14 parking spaces. This well-kept building is very easy to manage and is well-positioned in the south tip of North Hollywood and will offer great appreciation for a long-term holder. Furthermore, the building is fitted with copper plumbing. The property is located between Vineland Ave & Cahuenga Blvd, situated just south of Chandler Blvd.
The site is in walking distance to plenty of shops, stores, and parks. As well, it sits in an extremely dense rental area. The building has easy access to the 101, 134, and 170 Freeways, as well as being a short drive over the mountain to the west side. This well-maintained investment opportunity will make a great addition to the next investor’s portfolio, who will also benefit from the long-term appreciation growth in a great area!
Investment Highlights
Built in 1991 Not subject to LA City Rent Control laws - only statewide AB 1482
TOC Tier 1 - Located in an Opportunity Zone
Minutes from the NoHo Arts District - Easy access to the 101/134/170 Freeway Junction
Prime Location and Excellent unit mix of 8-Units consisting of Studios, 1+1.5+loft, 2+2, 2+2.5+loft
Spacious Units - On-site Laundry Machines - 14 Parking Spaces
Down the street from the North Hollywood Recreation Center - Great Location Nearby to Many Shops/Restaurants and Ventura Blvd
Listed & Sold By:
Tony Sameyah
(310) 749-4475
tony@lyonstahl.com