CLOSED ESCROW
MULTIFAMILY
6818 MORELLA
AVE
NORTH HOLLYWOOD, CA
PRICE
PRICE/UNIT
PRICE/SF GRM
CAP RATE
$1,200,000
$240,000
$227
14.36
4.57%
DEAL HIGHLIGHTS​:
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1031 Exchange Buyer
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Highest Price/Unit for Rent Control Asset in NOHO
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ASSET HIGHLIGHTS
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Located Directly Adjacent to the New LADWP Beautification Park Project
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Great Unit Mix with Large Floor-plans
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Mostly Copper Plumbing and Individual A/C
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Secure Rod Iron Fence in the Front of the Property
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Each Unit Maintains Upgraded Laminate Flooring with Updated Counter Tops, Cabinets, and Bathrooms
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Highly Improving Sub-Market with Great Upside in Rental Potential
THE ASSET
Located on Morella Avenue in North Hollywood, California, this multi-family investment maintains a great unit mix of (3) 3 Bed- 2 Bath and (2)- 2 Bed / 1 Bath units and offers 5,280 square feet of rent-able space on a 7,902 square foot lot. With many common area amenities such as a laundry room, barbecue area, and a secure gated front lawn, this property is well maintained with high in-place rents. Any investor looking to purchase this property will enjoy a no headache property that has been well maintained during the current ownership's tenure. In addition to the many com-mon area amenities, the property maintains mostly copper plumbing and tuck-under parking spaces located at the rear of the property. Tenants enjoy updated units with all units maintaining newer kitchen counter-tops, cabinets, and bath-rooms. Included in each unit is hardwood flooring on a large floor plan. Located directly adjacent to this invest-ment opportunity, the new LADWP beautification park project is currently being developed to add a more com-fortable living environment for the neighborhood. Upon completion, this project will serve as a great amenity for tenants to enjoy.