5821 Hazeltine Avenue

Van Nuys, CA 91401

$1,160,000
Last Sold Price
4
Beds
4
Baths
2,467 Sq. Ft.
$470 / Sq. Ft.
2,467
Sq. Ft.
$470
per Sq. Ft.

Description

We are pleased to present this 4 unit property located at 5821 Hazeltine Ave in Van Nuys, CA, ideally situated South of Oxnard Street, and just two blocks north of the Sherman Oaks city border at Burbank Blvd. This 4 unit offering sits on a 0.14 acre lot, it has an alleyway behind the property for easy access to the property's gated parking, and it comes with 3 units that are not subject to LA City Rent Control (only subject to AB-1482). The offering is comprised of a stand alone, 800 square foot,...We are pleased to present this 4 unit property located at 5821 Hazeltine Ave in Van Nuys, CA, ideally situated South of Oxnard Street, and just two blocks north of the Sherman Oaks city border at Burbank Blvd. This 4 unit offering sits on a 0.14 acre lot, it has an alleyway behind the property for easy access to the property's gated parking, and it comes with 3 units that are not subject to LA City Rent Control (only subject to AB-1482). The offering is comprised of a stand alone, 800 square foot, 2 bedroom house in front, which was built in 1928 and subject to LA rent control, and a triplex at the back of the lot which was built in December 1978 and is comprised of (2) 1 bed units and (1) bachelor. Since this triplex in back was built after the cutoff for LA Rent Control, those three apartment units are not subject to LA's strict rent control laws, and they are only subject to the more lenient AB-1482 rent control laws which allows annual rent increases equal to 5% + CPI. Also, the front 2-bed house was fully renovated in 2015 with all new electrical, plumbing, floors, kitchen, bathroom, etc. The seller of this property has owned this building since the 1970s, almost 50 years of ownership. In fact, the seller is the one who built the triplex in the back of the lot in December 1978. The property has been maintained with extreme care over the decades, like you would expect from a pride of ownership mom and pop landlord. The property presents the buyer with a couple of avenues to add value. First, the current rents are approximately 24% below full market potential. For the non-rent-controlled triplex, you can get those rents up to full market potential much quicker than you'd be able to for LA rent controlled units. For the front house that is rent controlled, a strategic buyer could potentially owner-occupy that house for a period of time, which would be the easiest avenue to get that rent controlled unit vacant. This would allow the buyer to capture a large amount of upside potential when re-leased at market rents in the future. Lastly, a buyer would be wise to speak with ADU companies about the converting the 4 tuck under parking spots in the back to an ADU, which would be great way to add much more value than the cost of construction would be. Lastly, the tuck under parking in the alleyway is not on LA City's list of properties that need to be retrofitting for earthquake safety.
  1. Listed by Filip Niculete • DRE #01905352 • Brokerage DRE #01240999 • Marcus & Millichap
  2. Listed by Glen Scher • DRE #01962976 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 5821 Hazeltine Avenue

Zoning
LARD1.5
Parcel Number
2245029040
Total Units
4.0
Living Area
2467
Source Living Area
Vendor Enhanced
Area
Sherman Oaks (SO)
Vacancy Rate
25%
Lot Size Area
5896

Location

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976

Sold By Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976

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LISTING UPDATED: 06/28/2022 02:18 PM

Property Details for 5821 Hazeltine Avenue

StatusSold
MLS #22-154781
Days on Market18
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1928
Lot Size0.14 AC / 5,896 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976

Sold By Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976

Add your commute

Building Information for 5821 Hazeltine Avenue

Stories-Residences-Year Built1928Building Size-Lot Size0.14 AC / 5,896 SF

Payment Calculator

$7,548 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,331

Property Taxes

$1,217

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5821 Hazeltine Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 2
  • Type Of Units: Market
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $75,078
  • Net Operating Income: $50,208.00
  • Gross Income: $77,400
  • Cap Rate: 4.10%
  • Gross Rent Multiplier: $15.83
  • Total Annual Expense: 25590
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1353
  • Lot Size Square Feet: 5896
  • Lot Size Dimensions: 50x120
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 4
  • Parking Features: Covered
Interior Features
Interior Features
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-09-2022
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,300.00
  • Unit Actual Rent: $1,300.00
  • Unit Projected Rent: $1,550.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,262.00
  • Unit Actual Rent: $1,262.00
  • Unit Projected Rent: $1,925.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,925.00
  • Unit Actual Rent: $1,925.00
  • Unit Projected Rent: $1,925.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,963.00
  • Unit Actual Rent: $1,963.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $112,041.00
  • Assessed Improvement Percent: 83.33
  • Assessed Land Value: $22,408.00
  • Assessed Land Percent: 16.67
  • Assessed Total Value: $134,449.00

Property History for 5821 Hazeltine 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 5821 Hazeltine Avenue

Taxable ValueLand$709,920Additions$473,280Total$1,183,200
Tax Record2023$14,608 ($1,217 / month)
Home Facts
Total Finished SqFt2,467 SqFtAbove Grade Finished SqFt2,467 SqFtLot Size5,896 SqFtStyleQuadraplexYear Built1928ZoningLARD1.5CountyLOS ANGELESAPN2245-029-040

Schools near 5821 Hazeltine 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
Charter - K to 5
Rating
School
Distance
Chandler Elementary
PublicK to 5

Van Nuys Middle School
Public6 to 8

Van Nuys Senior High School
Public9 to 12

Ararat Charter School
CharterK to 5

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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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 Marcus & Millichap, Filip Niculete, DRE #01905352; Marcus & Millichap, Glen Scher, DRE #01962976

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.