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Owner's unit with Large Private Patio 6254 Whitsett Ave 6 Unit Apartment Building $1,425,000 ($237,500/Unit) 5.69% Cap Rate North Hollywood, CA 91606
Executive Summary
Desirable Valley Glen with Owner's Unit featuring Large Private Enclosed Patio. In-Place Cash Flow: $120,665 in gross income with a 5.65% cap rate, providing steady initial yield for a 6-unit San Fernando Valley asset. Property Features: Detached carport parking (6 spaces) and on-site laundry facilities. Rental Upside Strategy: 30%+ rent growth to reach full market potential. ADU Potential: With LAR3 zoning and a 6,751 sq. ft. lot, converting detached carport structures or garages into an Accessory Dwelling Unit (ADU) could add an immediate 7th revenue stream. Appreciation DriversPrime Location: Minutes from the NoHo Arts District and NOHO West retail plaza, driving strong tenant demand from young professionals and entertainment industry workers. Transit & Access: Proximity to the North Hollywood B Line (Red) Metro station and major Valley thoroughfares positions the asset well for long-term infill land value growth.
Property Facts
| Price | $1,425,000 | Apartment Style | Low-Rise |
| Price Per Unit | $237,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.69% | Building Size | 6,527 SF |
| Gross Rent Multiplier | 11.6 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 0.83/1,000 SF |
| Zoning | R3, N. Hollywood | ||
| Price | $1,425,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 5.69% |
| Gross Rent Multiplier | 11.6 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,527 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 0.83/1,000 SF |
| Zoning | R3, N. Hollywood |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 715 - 810 |
| 2+1 | 2 | - | 948 - 1,025 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2333-008-031 | Improvements Assessment | $561,000 |
| Land Assessment | $841,500 | Total Assessment | $1,402,500 |
Property Taxes
Parcel Number
2333-008-031
Land Assessment
$841,500
Improvements Assessment
$561,000
Total Assessment
$1,402,500
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Owner's unit with Large Private Patio | 6254 Whitsett Ave