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6056 Craner Ave 9 Unit Apartment Building $6,250,000 ($694,444/Unit) 5.10% Cap Rate North Hollywood, CA 91606
Investment Highlights
- 2022 build- Non Rent Control asset -Situated 1.5 miles from the North Hollywood Arts District and the North Hollywood Metro Station
- (7) 4-bedroom & 4-bath townhomes, each aapprox. 1,800 SF . Furnished with high-end finishes and equipped with brilliant smart home tech.
- North Hollywood has approximately 160,000 residents with a median age of 36, reflecting a strong renter age demographic
- This is a collection of meticulously-designed modern townhomes. Each townhome features private balconies, and covered two-car garages
- (1) 3 bedroom & 3 bath unit , 1200 sq ft , and (1) one bedroom & 1 bath unit 800 sq ft - each Furnished with high-end finishes and equipped with bri
- Approx 75 % of local residents rent rather than own. Proximity to entertainment and employment centers drive rental demand. Median income is $85k
Executive Summary
2022 build- Non Rent Control asset -Situated 1.5 miles from the North Hollywood Arts District and the North Hollywood Metro Station .This is a collection of meticulously-designed modern townhomes. Each townhome features private balconies, a covered two-car garage and are individually metered for water, gas and electricity. Minimal owner maintenance and utility cost and ease of management make for a steady cash flow stream.
(7) 4-bedroom & 4-bath townhomes, each aapprox. 1,800 SF . (1) 3 bedroom & 3 bath unit , 1200 sq ft , and (1) one bedroom & 1 bath unit 800 sq ft - each Furnished with high-end finishes and equipped with brilliant smart home tech.
North Hollywood has approximately 160,000 residents with a median age of 36, reflecting a strong renter age demographic. Approx 75 % of local residents rent rather than own. Proximity to entertainment and employment centers drive rental demand. Median household income is $85k. Major film, television and media production along with restaurants , hospitality, and construction trades abound with the Burbank Media District, Universal Studios and the Hollywood entertainment corridor nearby.
The popular NoHo Arts District is a walkable urban environment with growing nightlife, theaters, restaurants , and galleries.
(7) 4-bedroom & 4-bath townhomes, each aapprox. 1,800 SF . (1) 3 bedroom & 3 bath unit , 1200 sq ft , and (1) one bedroom & 1 bath unit 800 sq ft - each Furnished with high-end finishes and equipped with brilliant smart home tech.
North Hollywood has approximately 160,000 residents with a median age of 36, reflecting a strong renter age demographic. Approx 75 % of local residents rent rather than own. Proximity to entertainment and employment centers drive rental demand. Median household income is $85k. Major film, television and media production along with restaurants , hospitality, and construction trades abound with the Burbank Media District, Universal Studios and the Hollywood entertainment corridor nearby.
The popular NoHo Arts District is a walkable urban environment with growing nightlife, theaters, restaurants , and galleries.
Property Facts
| Price | $6,250,000 | Apartment Style | Townhome |
| Price Per Unit | $694,444 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 5.10% | Building Size | 14,920 SF |
| Gross Rent Multiplier | 14 | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2022 |
| Property Subtype | Apartment | Parking Ratio | 0.54/1,000 SF |
| Zoning | LARD1.5 | ||
| Price | $6,250,000 |
| Price Per Unit | $694,444 |
| Sale Type | Investment |
| Cap Rate | 5.10% |
| Gross Rent Multiplier | 14 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.30 AC |
| Building Size | 14,920 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2022 |
| Parking Ratio | 0.54/1,000 SF |
| Zoning | LARD1.5 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Washer/Dryer
- Heating
- Stainless Steel Appliances
- Views
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 800 |
| 4+4 | 7 | - | 1,865 |
| 1+3 | 3 | - | 1,200 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2414-004-020 | Improvements Assessment | $2,902,716 |
| Land Assessment | $3,121,200 | Total Assessment | $6,023,916 |
Property Taxes
Parcel Number
2414-004-020
Land Assessment
$3,121,200
Improvements Assessment
$2,902,716
Total Assessment
$6,023,916
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6056 Craner Ave
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