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​:

  • 1031 Exchange Buyer

  • Highest Price/Unit for Rent Control Asset in NOHO

ASSET HIGHLIGHTS

  • Located Directly Adjacent to the New LADWP Beautification Park Project

  • Great Unit Mix with Large Floor-plans

  • Mostly Copper Plumbing and Individual A/C

  • Secure Rod Iron Fence in the Front of the Property

  • Each Unit Maintains Upgraded Laminate Flooring with Updated Counter Tops, Cabinets, and Bathrooms

  • 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.

GET IN TOUCH:

NEVER MISS A LISTING:

Tel: 310-300-2838

daniel@hirthgroup.com

2701 Ocean Park Blvd #140

Santa Monica, CA 90405

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KW Commercial CAL DRE 01499010