• 5 Units
• 7,387 Sq Ft
• 5,400 Sq Ft
• Unknown Cap Rate

Description

We are pleased to present 10826 Hesby Street, a brand new luxury five unit multifamily property located in the heart of North Hollywood, just minutes from Toluca Lake and Studio City and near the vibrant NoHo Arts District. 4 of the 5 units are leased, with applications in hand for the fifth unit! The five bedroom unit is currently rented for $6,000 per month, both four bedroom units are leased at $5,250 per month each, and a two bedroom unit is rented for $3,750 per month. This non rent controlled asset features an ideal unit mix of one five bedroom, two four bedroom, and two two bedroom units. Each residence is thoughtfully designed with open floor plans, ultra high end finishes, in unit laundry, premium stainless steel appliances, and large windows that provide abundant natural light. Offered at $3,695,000 with a real cap rate of 6.09%, the property currently generates $284,112 in annual rental income, making it one of the best priced new construction opportunities in the area. Tenants pay all utilities, helping to keep operating expenses low, and the property includes a one year builder's warranty for additional peace of mind. The building offers excellent convenience surrounded by shops, restaurants, entertainment and ample street parking for tenants and guests. 10826 Hesby Street presents a rare opportunity to acquire a low maintenance, high yield investment in one of Los Angeles's most desirable rental markets. Recent comparable sales in prime North Hollywood continue to demonstrate strong investor demand for well located multifamily assets. 11447 Cumpston St, a four unit property, just closed at $3,350,000, achieving $837,500 per unit. Additionally, 5663 Case Ave, a five unit property nearby, sold for $3,900,000, reflecting $780,000 per unit. These trades underscore the premium pricing being achieved for quality assets in this highly sought after rental pocket. Buyer to verify all information.