6655 Wilkinson Avenue

    North Hollywood, CA 91606
    • $1,460,000
    • STATUS: Closed
    • ON SITE: 269 days
    • ID#: 18324892
    Sold - 07/19/2018
    $1,460,000
    SOLD - 07/19/2018
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,415
      SQFT
    • $0
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    We are pleased to present 6655 Wilkinson Avenue, a seven-unit multifamily property in the San Fernando Valley. The property sits within the desirable Valley Glen neighborhood of North Hollywood, in a quiet residential enclave near the intersection of Whitsett Avenue and Vanowen Street. With limited deferred maintenance and large floorplans, the property provides a new owner the opportunity to steadily improve cash flow by eventually capturing the approximately 47 percent rent upside.Situated in the desirable Valley Glen neighborhood of North Hollywood, the property benefits from the area's continued rent growth. Average effective rents have continued their positive trajectory, increasing by 2.4 percent during 2017. During the same period, vacancy rates have remained well below the Los Angeles Metro average, with North Hollywood only reaching a 2.5 percent vacancy rate, compared to 3.6 percent for Greater Los Angeles.

    Sold by Roderick 'Rick' Raymundo of Marcus & Millichap.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-15T14:29:48.957. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.impactca.com/homes/81730941

    6655 Wilkinson Avenue North Hollywood, CA 91606

    • Price: $1,605,000
    • Status: Closed
    • Updated: 64 min ago
    • ID#: 18324892
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    8,415
    SQFT
    $0
    $/SQFT
    1963
    Built
    Neighborhood:
    VG - Valley Glen
    County:
    Los Angeles
    Area:
    VG - Valley Glen
    Property Description
    We are pleased to present 6655 Wilkinson Avenue, a seven-unit multifamily property in the San Fernando Valley. The property sits within the desirable Valley Glen neighborhood of North Hollywood, in a quiet residential enclave near the intersection of Whitsett Avenue and Vanowen Street. With limited deferred maintenance and large floorplans, the property provides a new owner the opportunity to steadily improve cash flow by eventually capturing the approximately 47 percent rent upside.Situated in the desirable Valley Glen neighborhood of North Hollywood, the property benefits from the area's continued rent growth. Average effective rents have continued their positive trajectory, increasing by 2.4 percent during 2017. During the same period, vacancy rates have remained well below the Los Angeles Metro average, with North Hollywood only reaching a 2.5 percent vacancy rate, compared to 3.6 percent for Greater Los Angeles.
    Exterior Features

    Lot Features Sprinklers None Lot Size Source Assessor Lot Size Units Square Feet Parking Features Other Parking YN Yes

    Interior Features

    Laundry Features See Remarks

    Property Features

    Cap Rate 3.82 Gross Multiplier 14.64 Gross Operating Income 107472.00 Improvements Amount 503317 Land Value 692642 Laundry YN Yes Net Operating Income 61390.00 Special Listing Conditions Standard Total Expenses 44998.00 Zoning Lar3

    Listing provided courtesy of Roderick 'Rick' Raymundo of Marcus & Millichap.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-15T14:29:48.957. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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