Active
List Price $2.50M Current Cap Rate 5.5% Current GRM 14.1 Zoning LAC2 Price Per Unit $625,000 Price Per Square Foot $416 Units 4 Building Size 6,015 SF Year Built 2021
5631 Whitnall Hwy
Los Angeles, CA 91601
Investment Overview
Condo-quality four-unit investment in North Hollywood, built in 2021 across two buildings on a 5,000 SF lot. All four homes are large three-bedroom plans averaging 1,504 SF, currently exempt from the LA Rent Stabilization Ordinance and statewide AB 1482. One unit delivers vacant, and in-place rents sit roughly $900 per month below market.
Investment Highlights
- New 2021 construction, currently exempt from both the Los Angeles Rent Stabilization Ordinance and CA statewide rent control (AB 1482).
- All large three-bedroom homes: two 3-bed/3.5-bath and two 3-bed/3-bath units, 6,015 SF total and 1,504 SF average, drawing family tenants rather than roommate demand.
- Owner-occupier ready: the vacant unit provides the perfect scenario for a new owner to occupy while receiving steady income from the remaining units.
- Rental upside: in-place rents of $14,800 per month sit roughly $900 below market.
- Low operating burden: estimated expenses of $41,220, or $10,305 per unit, produce a 23.2% expense ratio on in-place income.
- Prime North Hollywood location, walkable to the NoHo Arts District and the Metro B and G Line station, with direct access to the Burbank studio employment base.