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BB22220633 MLS Active Status
10824 Morrison St is a rare, non-rent controlled 2018 construction fourplex in prime Toluca Lake Adj./NoHo Arts District that is being offered at an unheard-of low price of $2,649,000! The property boasts a cap rate of 4.82% and is made up of quiet tenants that diligently pay their rent each month. Once the current tenants’ leases expire, we expect a conservative 5.13% cap rate. One unit is being delivered VACANT, a dream situation for owner occupiers looking to live in an A+ neighborhood while having tenants cover most of the mortgage! 10824 Morrison features two 2-story duplexes containing a total of one 4b/3b unit, two 3b/2b units, and one 2b/1.5b unit with 8 total parking spots (3 garage spots and 5 surface spots)! Enjoy other notable perks including: no rent control, stainless steel appliances, washers and dryers, well-designed open floor plans, little to no maintenance, separate meters for gas, water & electric, and extreme desirability amongst renters for years to come! With a major lack of new construction inventory under $3 million, this property is priced to sell fast at $2,649,000! Between the lack of rent control, charming residential neighborhood, and the major upside potential, this is an ideal newer construction property to act on ASAP! With SB-8 in effect, less fourplexes are being built, making properties like this an even more rare and hot commodity. This property is a dream come true for 1031 exchange buyers- ready to close right away!

10824 Morrison Street, North Hollywood

BB22218205 MLS Pending Status
11347 Emelita St is a 7-unit building in the NoHo Arts District that has been extensively renovated (5 of 7 units fully remodeled) and boasts an outstanding current cap rate of 4.69%. These gorgeously updated 2 bedroom and 1 bedroom units quickly achieved market rents of $2,495 for the 2 bedrooms and $2,195 for the 1 bedrooms. In addition to the already strong return, this property boasts major upside potential- with 2 remaining units under market rent, there is room to boost the return to 5.71% ($2,519 more in monthly rent)! Additionally, there may be potential to add ADU’s above the carport, an addition that would generate further income (buyer to do their own due diligence). There is also a large storage room that can certainly bring additional income- be that via an additional ADU conversion, paid storage or an extra room rental. With small new construction developments going for the high $2 millions and beyond, this is your chance to buy as close to new as possible while locking in an unheard of price per door of $385,000 and price per square foot of $420.57! 11347 Emelita is made up of five 2 bedroom, 1 bathroom units and two 1 bedroom, 1 bathroom units. All seven units are enormous and have very open, spacious floorplans. This property is rich with amenities, including: upscale stainless steel appliances in 5/7 units, quartz countertops, vinyl floors in the new units and hardwood floors in the non-updated units, a laundry room generating approximately $100 in additional income a month, a massive storage unit currently set up as a gym, 8 smaller storage units in the carport, 7 parking spaces (4 carport, 3 surface), new windows and doors throughout the whole property, mini splits and new wall units in the renovated units, a resealed roof, and new electrical subpanels. Another huge bonus is that 5 of the 7 units are on RUBS- in addition to paying electric and gas individually, tenants also pay for their portion of water/sewer and trash, making the expenses very light on this property! This impressive compound is located 5 minutes from both the heart of the NoHo Arts District and NoHo West- a dream come true for renters.

11347 Emelita Street, North Hollywood

SR22170327 MLS Active Status
CERTIFICATE OF OCCUPANCY JUST ISSUED BY THE CITY, REALDY TO BE SOLD! New & Improved Pricing... Now 5.38 CAP - 14.69 GRM, 2022 Construction, 4 Luxury townhouse style units situated in the heart of NoHo, minutes away from Burbank, Hollywood and Downtown LA. Great unit mix, all 3 bedrooms units with balconies, in unit laundry and private garages. Price includes RTI ready plans for two, 1 + 1 (363sqft) ADU, see pro forma attached. 2 units are 3 bedrooms and 3 bathrooms with one of the bedrooms being situated downstairs and 2 units are 3 bedrooms and 2.5 bathrooms. This 2022 construction offers high quality finishes, smooth coat stucco at front, open floor plans, spacious living rooms with luxury laminate flooring, high ceilings and high-tech finishes. The kitchens come with stainless steel appliances (cooktop/oven, refrigerator, and dishwasher), custom cabinets, quartz countertops and full backsplashes and modern high-quality fixtures. Recessed LED lighting and energy efficient windows throughout to help keep the electric bills down, cable/internet/security alarm ready, and RING doorbells. Each unit has own private laundry with new washer and dryers, tankless water heaters and energy saving HVAC systems with NEST Thermostats. Ultra-low maintenance, individually metered for water, gas and electric keeps expenses low. Security fencing, great curb appeal, attractive interior finishes, built-ins, high-tech perks with private parking will make this property easy to rent for any landlord. Each unit offers solar energy (solar panels are installed in each unit), tenant will benefit from the savings on a monthly basis.

5648 Auckland Avenue, North Hollywood

5 Beds 4 Baths 22176957 MLS Pending Status
Probate Sale. Subject to Court confirmation and overbidding in Court. Sale confirmation is scheduled for Mon., December 19, 2022 at 8:30am, in Dept. 2D at DTLA Court located at 111 N. Hill St., Los Angeles, CA 90012. Asking price is the 1st minimum overbid amount. All interested over-bidders must be present in the Court with a cashier's check for at least 10% of the minimum overbid amount, or $116,600.00, payable to "Ellie Page, as Administrator, with limited authority, of the Estate of Raffic George Mikaelian". For sale AFTER 38 years! Excellent opportunity to own 3 units, with potential to legalize the 4th unit in the back. Owner started the work on converting the garage into a 4th unit, but did not do it with permits. Large two-story owner's unit (3 bedroom 2 bath) in the front, is currently occupied by the wife of the deceased owner, who has agreed to vacate the unit no later than 30-days after close of escrow. Subject agreement is in writing with a conditional stipulation for entry of Judgment (possession) in case the occupant fails to vacate as agreed. One of the existing legal 1 bedroom units is currently vacant, and will be delivered vacant at close of escrow. The other 1 bedroom unit is leased to a long-term Section 8 tenant at $983 per mo. Financials are Projected, assuming market rent for the Owner's unit (=$5,000/mo.), and the vacant unit (=$1,500/mo.). All units separately metered for gas and electricity. Low maintenance. Each unit has its own separate water heater and washer & dryer hook-up. Priced to sell. Desirable North Hollywood location, close to NoHo Arts district, and easy access to I-101, I-170, & I-134. Property is being sold AS IS and WHERE IS. Seller is a Court appointed fiduciary and cannot make any representations as to the condition, history of the subject property. Buyer to conduct their own investigations.

11611 Burbank Boulevard, North Hollywood

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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