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5631 Whitnall Hwy 4 Unit Apartment Building $2,600,000 ($650,000/Unit) 5.25% Cap Rate North Hollywood, CA 91601
Investment Highlights
- NEW 2021 CONSTRUCTION – Currently exempt from both the Los Angeles Rent Stabilization Ordinance and CA Statewide Rent Control (AB 1482).
- OWNER OCCUPIER READY - The vacant unit provides the perfect scenario for a new owner to occupy while receiving steady income from the remaining units
- LOW OPERATING BURDEN – Estimated expenses of $41,220, or $10,305 per unit, produce a 23.2% expense ratio on in-place income.
- ALL LARGE THREE-BEDROOM HOMES– Two 3Bed+3.5Bath and two 3Bed+3Bath units, 6,015 SF total and 1,504 SF average, drawing family tenants rather than room
- RENTAL UPSIDE – In-place rents of $14,800 per month sit $900 below market.
- PRIME NORTH HOLLYWOOD LOCATION – Near NoHo Arts District and the Metro B and G Line station, with direct access to the Burbank studio employment base.
Executive Summary
The Highlight Group of Equity Union Commercial, as the exclusive listing agent, is pleased to present the opportunity to acquire 5631 Whitnall Hwy., a condo-quality four-unit multifamily investment property located in the North Hollywood neighborhood of Los Angeles. Built in 2021, the 6,015 square-foot property sits on a 5,000 square-foot lot and is arranged as two buildings addressed 5631, 5631½, 5633 and 5633½.
All four homes are three-bedroom plans averaging 1,504 square feet. Because the improvements were completed in 2021, the property is currently exempt from the Los Angeles Rent Stabilization Ordinance and from the statewide cap on new construction, and one of the four units is vacant and available to lease at market today.
All four homes are three-bedroom plans averaging 1,504 square feet. Because the improvements were completed in 2021, the property is currently exempt from the Los Angeles Rent Stabilization Ordinance and from the statewide cap on new construction, and one of the four units is vacant and available to lease at market today.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,600,000 | Apartment Style | Low-Rise |
| Price Per Unit | $650,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.25% | Building Size | 7,158 SF |
| Gross Rent Multiplier | 14.6 | No. Stories | 3 |
| No. Units | 4 | Year Built | 2021 |
| Property Type | Multifamily | Parking Ratio | 1.12/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | Q C2-1 XL | ||
| Price | $2,600,000 |
| Price Per Unit | $650,000 |
| Sale Type | Investment |
| Cap Rate | 5.25% |
| Gross Rent Multiplier | 14.6 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 7,158 SF |
| No. Stories | 3 |
| Year Built | 2021 |
| Parking Ratio | 1.12/1,000 SF |
| Zoning | Q C2-1 XL |
Amenities
Unit Amenities
- Washer/Dryer
- Stainless Steel Appliances
- Double Pane Windows
- Patio
Site Amenities
- Controlled Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+3 | 2 | $4,000 | 1,482 |
| 3+3.5 | 2 | $3,850 | 1,433 |
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Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 2415-027-014 | Improvements Assessment | $1,639,884 (2026) |
| Land Assessment | $1,082,432 (2026) | Total Assessment | $2,722,316 (2026) |
Property Taxes
Parcel Number
2415-027-014
Land Assessment
$1,082,432 (2026)
Improvements Assessment
$1,639,884 (2026)
Total Assessment
$2,722,316 (2026)
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