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GATED 6 UNIT APARTMENT COMPLEX 5544 Elmer Ave 6 Unit Apartment Building $1,850,000 ($308,333/Unit) 5.25% Cap Rate North Hollywood, CA 91601
EXECUTIVE SUMMARY
Multi-Family Opportunity - 6-Unit Investment | NoHo Arts District For Sale
Property Overview:
Units: 6 residential units
- 2 Beds / 1.5 Bath - 1 unit
- 1 Bed / 1 Bath - 3 units
- Studio / 1 Bath - 2 units
Parking: 6 spaces (2 are tandem — total capacity for 8 vehicles)
Access: Gated and secured for tenant safety and peace of mind
Laundry Income: On-site coin-operated washers and dryers generating approximately $350/month in additional income
Utilities:
- Tenant pays: Electricity and gas
- Landlord pays: Water, trash, and common-area lighting
Storage: Ample storage space for tenants
No Smoking Policy: Maintains cleanliness and minimizes property wear
Location & Accessibility:
- Situated in the NoHo Arts District, known for its theaters, galleries, vibrant dining, and creative energy
- Transit: Exceptionally transit-friendly — North Hollywood Metro Station is just 0.3 miles away (~5-minute walk). This includes access to both the Red Line (B Line) subway and the G Line Bus Rapid Transit system
- Walkability & Transit Quality:
Walk Score: 90 — a walker’s paradise
Transit Score: 67 — excellent transit access
Bike Score: 77 — very bikeable
Property Overview:
Units: 6 residential units
- 2 Beds / 1.5 Bath - 1 unit
- 1 Bed / 1 Bath - 3 units
- Studio / 1 Bath - 2 units
Parking: 6 spaces (2 are tandem — total capacity for 8 vehicles)
Access: Gated and secured for tenant safety and peace of mind
Laundry Income: On-site coin-operated washers and dryers generating approximately $350/month in additional income
Utilities:
- Tenant pays: Electricity and gas
- Landlord pays: Water, trash, and common-area lighting
Storage: Ample storage space for tenants
No Smoking Policy: Maintains cleanliness and minimizes property wear
Location & Accessibility:
- Situated in the NoHo Arts District, known for its theaters, galleries, vibrant dining, and creative energy
- Transit: Exceptionally transit-friendly — North Hollywood Metro Station is just 0.3 miles away (~5-minute walk). This includes access to both the Red Line (B Line) subway and the G Line Bus Rapid Transit system
- Walkability & Transit Quality:
Walk Score: 90 — a walker’s paradise
Transit Score: 67 — excellent transit access
Bike Score: 77 — very bikeable
PROPERTY FACTS
| Price | $1,850,000 | Building Class | C |
| Price Per Unit | $308,333 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 6,086 SF |
| Cap Rate | 5.25% | No. Stories | 2 |
| No. Units | 6 | Year Built | 1987 |
| Property Type | Multifamily | Parking Ratio | 1.51/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LAR4 | ||
| Price | $1,850,000 |
| Price Per Unit | $308,333 |
| Sale Type | Investment |
| Cap Rate | 5.25% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 6,086 SF |
| No. Stories | 2 |
| Year Built | 1987 |
| Parking Ratio | 1.51/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR4 |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | - |
1 1
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 2350-006-009 | Improvements Assessment | $245,906 |
| Land Assessment | $122,947 | Total Assessment | $368,853 |
PROPERTY TAXES
Parcel Number
2350-006-009
Land Assessment
$122,947
Improvements Assessment
$245,906
Total Assessment
$368,853
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GATED 6 UNIT APARTMENT COMPLEX | 5544 Elmer Ave
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