5851 Whitnall Highway

North Hollywood, CA 91601

$1,220,000
Last Sold Price
8
Beds
7
Baths
4,888 Sq. Ft.
$250 / Sq. Ft.
4,888
Sq. Ft.
$250
per Sq. Ft.

Description

This is an opportunity to acquire 5851 Whitnall Hwy, a 7-unit value add opportunity located in North Hollywood. Built in 1962, 5851 Whitnall Hwy offers a subsequent owner with a resilient in place cash flow with substantial upside potential as current rents are approximately 45% below market. An astute investor will unlock this potential through strategic interior and exterior community enhancements as there is a high demand for product in the North Hollywood Submarket. 5851 Whitnall is has been...This is an opportunity to acquire 5851 Whitnall Hwy, a 7-unit value add opportunity located in North Hollywood. Built in 1962, 5851 Whitnall Hwy offers a subsequent owner with a resilient in place cash flow with substantial upside potential as current rents are approximately 45% below market. An astute investor will unlock this potential through strategic interior and exterior community enhancements as there is a high demand for product in the North Hollywood Submarket. 5851 Whitnall is has been well maintained by current ownership and various improvements have been made to the building throughout ownership. However, the unit interiors are either in near-original condition or have been modestly upgraded, affording the subsequent owner the opportunity to strategically reposition the unit interiors upon natural turnover or through a more aggressive management approach. The building is situated on a 5,110 square foot parcel and is comprised of one two story building with soft story tuck under parking. The property features a unique unit mix comprised of (5) one-bedroom/one-bathroom units measuring approximately 650 square feet and (2) two-bedroom/ one-bathroom units measuring just over 800 square feet.
  1. Listed by Elliot Hassan • DRE #01481211 • Brokerage DRE #01837608 • NorthMarq Realty Services, Inc.

Property Details for 5851 Whitnall Highway

Zoning
LAR3
Parcel Number
2415015008
Total Units
7.0
Living Area
4888
Source Living Area
Vendor Enhanced
Area
North Hollywood (NHO)
Vacancy Rate
0
Lot Size Area
5110

Location

Listing Courtesy of NorthMarq Realty Services, Inc., Elliot Hassan, DRE #01481211

Sold By Keller Williams Realty-Studio City, James Antonucci, DRE #01822661; Keller Williams Studio City, Michael Pesci, DRE #01274379

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LISTING UPDATED: 08/22/2023 01:05 PM

Property Details for 5851 Whitnall Highway

StatusSold
MLS #23-233027
Days on Market109
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size0.12 AC / 5,110 SF
CountyLos Angeles County

Location

Listing Courtesy of NorthMarq Realty Services, Inc., Elliot Hassan, DRE #01481211

Sold By Keller Williams Realty-Studio City, James Antonucci, DRE #01822661; Keller Williams Studio City, Michael Pesci, DRE #01274379

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Building Information for 5851 Whitnall Highway

Stories2Residences-Year Built1962Building Size-Lot Size0.12 AC / 5,110 SF

Payment Calculator

$7,548 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,658

Property Taxes

$890

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5851 Whitnall Highway

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
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: $86,554
  • Net Operating Income: $48,324.00
  • Gross Income: $87,828
  • Cap Rate: 3.87%
  • Gross Rent Multiplier: $14.23
  • Actual Annual Gross Rent: $84,754.00
  • Vacancy Allow Dollar: $2,635.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 38776
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1173
  • Lot Size Square Feet: 5110
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 7
  • Parking Features: Assigned
Interior Features
Interior Features
  • Cooling Type: Window Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 01-16-2023
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $5,058.00
  • Unit Actual Rent: $508.00
  • Unit Projected Rent: $8,750.00
  • Like Units: 5
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,189.00
  • Unit Actual Rent: $2,189.00
  • Unit Projected Rent: $4,500.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $383,699.00
  • Assessed Improvement Percent: 48.44
  • Assessed Land Value: $408,455.00
  • Assessed Land Percent: 51.56
  • Assessed Total Value: $792,154.00

Property History for 5851 Whitnall Highway

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 5851 Whitnall Highway

Taxable ValueLand$416,624Additions$393,472Total$810,096
Tax Record2023$10,675 ($890 / month)
Home Facts
Total Finished SqFt4,888 SqFtAbove Grade Finished SqFt4,888 SqFtLot Size5,110 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningLAR3CountyLOS ANGELESAPN2415-015-008

Schools near 5851 Whitnall Highway

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
Oxnard Street 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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Similar Sold 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 NorthMarq Realty Services, Inc., Elliot Hassan, DRE #01481211

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.