MarketPier

6002 Klump Avenue - North Hollywood, CA 91606

$3,350,000
Listing Description

6002 Klump is a brand new construction six unit in North Hollywood that is minutes from both the heart of the NoHo Arts District and the future home of NoHo West, an enormous mixed-use development project that is poised to take North Hollywood to a whole new level! The property is made up of two triplexes containing a total of 6 side-by-side “townhome style” units with private 2-car garages, individual walk ups, and 3 BALCONIES PER UNIT (one in the living room and two in the bedrooms!). With projected rents of $3,350-$3,450 per unit, the cap rate comes out to an unbeatable 5.45%, which is the best cap rate out there for a 6 unit building! Plus, you get all of this with NO RENT CONTROL, SEPARATE METERS for all utilities, minimal expenses, a 1 year fit-and-finish warranty, & the ease of owning a hassle-free 2019 construction! Each unit is made of 3 bedrooms, 2.5 bathrooms and an additional room on the bottom floor that can be used as an extra bedroom, office, storage, etc! The property is projected to be completed in July- get your offers in now!

Listing Information
MLS Number
BB19112892
APN/Parcel ID
2337006017
Type
Multifamily
Sub Type
Multifamily
Building Size
8,200 sqft
Lot Size
9,368 sqft
Price / SQFT
$409
No Units
6
Price / Unit
$558,333
Gross Income
$236,292
Gross Scheduled Income
$243,600
Expenses
$53,561
Total Expenses
$53,561
Net Income
$182,731
Rent Multiplier
13.75
Cap Rate
5.45%
Listing Date
5/15/2019
Days Active
3
Last Updated
5/19/2019
Listing Provided By
Elizabeth Maddox
The 2-4 Unit Specialists
BRE# 01921425

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