NoHo Arts
District 7-Unit
Extensively renovated 7-unit building in the heart of the NoHo Arts District! With 5 of the 7 units gorgeously updated, this property boasts an outstanding current cap rate of 4.69%. With 2 units still under market, there is major upside- 5.71% pro forma cap rate! Additionally, there may be potential to add ADU's!
List Price:
Cap Rate:
GRM:
Bldg. Size:
Unit Mix:
Highlights:
$2,750,000
4.69% (current)
5.71% (pro forma)
15.65 (current)
13.32 (pro forma)
6,408 sqft
5x 2b/1b
2x 1b/1b
5/7 units fully renovated
Stainless steel appliances
Major upside
Outstanding cap rate
Potential for ADU's
Huge storage unit
Next door to luxury complex
Great NoHo Arts location
7 parking spaces
Minimal expenses
Click to View Photos
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The Neighborhood
<10-Minute Walk
Coffee for Breakfast, In-N-Out, Mofongos, India's Clay Pit, Tiara Street Park, United Children's Learning Academy, New Horizons Charter Academy, Los Burritos, NoHo MMA, "The Room" Live Escape Room
<5-Minute Drive
NoHo Arts District, The Federal, Amazon Fresh, Eat, Dave's Hot Chicken, Republic of Pie, 24 Hour Fitness, NoHo West, Trader Joe's, Laemmle NoHo7, North Hollywood Park, The Good Nite, Lawless Brewing
<$10 Uber Ride
Disney Studios, Tujunga Village, Aroma Cafe, Porto's Bakery, Target, Magnolia Park, Vitello's, Bob's Big Boy, The Thirsty Merchant, Whole Foods, Aeirloom Bakery, Forman's Whiskey Tavern, Jinya Ramen
Submit your offers now!
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5 out of 7 units stunningly renovated with brand new flooring, kitchens, bathrooms... the whole works!
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Outstanding current cap rate of 4.69% and potential to achieve a 5.71% cap rate!
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Major upside! 2 of the units are under market by $2,519/month- room for growth!
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5 of the 7 units are on RUBS: in addition to paying electric and gas individually, tenants also pay for their portion of water/sewer and trash, making the expenses very light on this property!
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Delivered with 1 huge storage unit used as a gym and 8 smaller storage units.
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Storage unit has major potential to bring additional income- be that via an additional ADU conversion, paid storage or an extra room rental.
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7 parking spaces on site.
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Located 5 minutes from both the heart of the NoHo Arts District and NoHo West.
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Unbeatable price per door of $392,857 and price per SF of $420.57.
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With new constructions in NoHo going for the high $2 millions+, this is your chance to buy the closest thing to brand new without the crazy price tag!
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There may be potential to add multiple ADU’s above carport, a huge value-add!
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Stainless steel appliances in all the renovated units.
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Very large, spacious units with open floorplans.