10828 Hesby St, North Hollywood CA 91601
Luxury 5-Unit Multifamily Property Located In the Heart of North Hollywood
LIST PRICE: $3,795,000 CAP RATE: 5.88% GRM: 13.32 PRICE PER SQUARE FOOT: $514
We are pleased to present 10828 Hesby Street, a brand new luxury 5 unit multifamily property located in the heart of North Hollywood, just minutes from Toluca Lake and Studio City and within walking distance to the vibrant NoHo Arts District. The 5 bedroom unit is currently rented for $6,000 per month, a 4 bedroom unit is rented for $5,250 per month, and a 2 bedroom unit is rented for $3,750 per month. This non rent controlled asset features an ideal mix of one 5 bedroom, two 4 bedroom, and two 2 bedroom units, each thoughtfully designed with open floorplans, in unit laundry, premium stainless steel appliances, and large windows that bring in abundant natural light. Priced at $3,795,000 with a projected cap rate of 5.88%, the property is expected to generate approximately $285,000 in annual rental income, making it one of the best priced new construction opportunities in the area. Tenants pay for all utilities, keeping operating expenses low, and the property includes a 1 year builder's warranty for added peace of mind. With 7 dedicated parking spaces, the building offers excellent convenience. Surrounded by shops, restaurants, and entertainment, 10828 Hesby Street presents a rare opportunity to acquire a low maintenance, high yield investment in one of Los Angeles's most desirable rental markets. Buyer to verify all information.
Investment Highlights
EXCELLENT 1031 Exchange opportunity – low maintenance, high-yield asset
BRAND-NEW construction with premium modern finishes throughout
NO Rent Control – AB1482 Exempt
SITUATED in prime North Hollywood (NoHo) – a highly desirable location attracting quality tenants
SPACIOUS in-unit laundry rooms with washers and dryers included
IDEAL UNIT MIX: (1) 5-bedroom, (2) 4-bedrooms, and (2) 2-bedrooms
Exclusively Listed By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com