5851 Whitnall Highway, North Hollywood, CA 91601
Property
Sold August 2023
Listing Agent: Elliot Hassan (DRE #01481211) · Listing Office: NorthMarq Realty Services, Inc. · Contact: 949-717-5200 · Bought with: James Antonucci · Keller Williams Realty-Studio City · MLS #23233027 · Source: CRMLS
About this property
This is an opportunity to acquire 5851 Whitnall Hwy, a 7-unit value add opportunity located in North Hollywood. Built in 1962, 5851 Whitnall Hwy offers a subsequent owner with a resilient in place cash flow with substantial upside potential as current rents are approximately 45% below market. An astute investor will unlock this potential through strategic interior and exterior community enhancements as there is a high demand for product in the North Hollywood Submarket. 5851 Whitnall is has been well maintained by current ownership and various improvements have been made to the building throughout ownership. However, the unit interiors are either in near-original condition or have been modestly upgraded, affording the subsequent owner the opportunity to strategically reposition the unit interiors upon natural turnover or through a more aggressive management approach. The building is situated on a 5,110 square foot parcel and is comprised of one two story building with soft story tuck under parking. The property features a unique unit mix comprised of (5) one-bedroom/one-bathroom units measuring approximately 650 square feet and (2) two-bedroom/ one-bathroom units measuring just over 800 square feet.
Listing description from the August 2023 sale, as reported to CRMLS.
Sale history