5749 Fair Avenue

North Hollywood, CA 91601

$2,895,000
Price
3
Beds
7
Baths
5,635 Sq. Ft.
$514 / Sq. Ft.
5,635
Sq. Ft.
$514
per Sq. Ft.

Description

We are pleased to present an extremely unique multi family property that provides cash flows, significant rental upside, ADU opportunities, attractive unit mix, and a low assumable interest loan. Settled on a 14K lot with 100 Feet frontage and access from both Klump Ave and Fair Ave, this property offers 7 existing units consisting of Two (2) Single Family Houses that have been completely remodeled from the exterior and interior, One (1) 1 Bedroom ADU with Certificate of Occupancy and Four (4) 1...We are pleased to present an extremely unique multi family property that provides cash flows, significant rental upside, ADU opportunities, attractive unit mix, and a low assumable interest loan. Settled on a 14K lot with 100 Feet frontage and access from both Klump Ave and Fair Ave, this property offers 7 existing units consisting of Two (2) Single Family Houses that have been completely remodeled from the exterior and interior, One (1) 1 Bedroom ADU with Certificate of Occupancy and Four (4) 1 Bedroom Bungalows. In addition, it offers Two (2) fully approved ADU plans with Ready-to-Issue (RTI) permits for an easy value add opportunity to make this a 9 Unit property with proforma rent of $266K annually. All units have private laundry hook-ups inside the units, no common walls, and yard space. Take advantage of an attractive assumable loan of 3.80% Interest only with over 3 years of term remaining, offering immediate cash flow unlike anything else on the market.
  1. Listed by David Nalbandyan • DRE #01869296 • LA Premier Realty • info@lapremierrealty.com

Property Details for 5749 Fair Avenue

Parking Spaces Total
12
Private Pool
No
Total Units
7.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
5635
Assessor Parcel Number
2337-032-003
Property Attached YN
false

Location

Listing Courtesy of LA Premier Realty, David Nalbandyan, DRE #01869296
Add your commute
LISTING UPDATED: 03/25/2024 06:28 AM

Property Details for 5749 Fair Avenue

StatusActive
MLS #BB24009352
Days on Market38
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1949
CountyLos Angeles County

Location

Listing Courtesy of LA Premier Realty, David Nalbandyan, DRE #01869296
Add your commute

Building Information for 5749 Fair Avenue

Building/Complex5749 Fair AveFloor-Stories1Residences-Pet Policy-Year Built1949Building Size-

Payment Calculator

$17,729 per month

30 year fixed, 7.25% Interest

Principal and Interest

$15,799

Property Taxes

$1,930

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5749 Fair Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $179,820
  • Gross Scheduled Income: $179,820
  • Net Operating Income: $131,773
Expense Details
  • Operating Expense: $44,451
  • New Taxes Expense: $30,319
  • Gardener Expense: $2,400
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $4,703
  • Maintenance Expense: $2,500
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $4,529
  • Total Expenses: $44,451
Tax / Assessment Info
  • Tax Tract Number: 1
  • Tax Census Tract: 1242.04
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 16
Community / Development
Community / Development
  • Community Features: Curbs
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
Exterior Features
  • Entry Location: Fair & Klump
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 7
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 6
  • Uncovered Spaces: 6
  • Open Other Spaces Total: 6
  • Parking Garage Spaces: 6
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 4
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $6,900
  • Unit Type Total Rent: $6,900
  • Unit Type Pro Forma: 6900
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 6
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $7,995
  • Unit Type Total Rent: $7,995
  • Unit Type Pro Forma: 11800
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 6
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1

Property History for 5749 Fair Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 5749 Fair Avenue

Taxable ValueLand$1,101,600Additions$734,400Total$1,836,000
Tax Record2023$23,165 ($1,930 / month)
Home Facts
Total Finished SqFt4,519 SqFtAbove Grade Finished SqFt4,519 SqFtLot Size13,805 SqFtStyleMulti-Family Res (5+ Units)Year Built1949ZoningLARD1.5CountyLOS ANGELESAPN2337-032-003

Schools near 5749 Fair Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 11
Rating
School
Distance
Lankershim Elementary School
PublicK to 5

Walter Reed Middle School
Public6 to 8

East Valley Senior High School
Public9 to 12

Science Academy STEM Magnet
Public6 to 11

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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5749 Fair Avenue is a multi-family home for sale in North Hollywood, CA 91601. This property was listed for sale on March 25, 2024 by LA Premier Realty, it's currently listed at $2,895,000. It has been on the market for a total of 38 days and was last sold on June 6, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include Lankershim Elementary School, Walter Reed Middle School and East Valley Senior High School. 5749 Fair Avenue is a 3-bed, 7-bath, 5,635 sqft multi-family home built in 1949.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of LA Premier Realty, David Nalbandyan, DRE #01869296

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.