5631 Whitnall Hwy | 4-Unit Built 2021 Apartments, North Hollywood

Description:

5631 Whitnall Hwy is a condo-quality four-unit investment in North Hollywood, built in 2021 across two buildings on a 5,000 SF lot (6,015 SF of building area). All four homes are large three-bedroom plans averaging 1,504 SF. The property is currently exempt from the Los Angeles Rent Stabilization Ordinance and from the statewide AB 1482 cap on new construction. One unit delivers vacant, and in-place rents sit roughly $900 per month below market.

OFFERING
- Price: $2,500,000 ($625,000 per unit, $416 per SF)
- Cap rate: 5.5% and 14.1 GRM

HIGHLIGHTS
- New 2021 construction, currently exempt from both the LA Rent Stabilization Ordinance and AB 1482
- All large three-bedroom homes: two 3-bed/3.5-bath and two 3-bed/3-bath units, drawing family tenants rather than roommate demand
- Owner-occupier ready: the vacant unit lets a buyer live in one home while earning income from the other three
- Rental upside: in-place rents sit roughly $900 per month below market
- Low operating burden: estimated expenses of about $10,305 per unit, a 23.2% expense ratio on in-place income
- Prime North Hollywood location, walkable to the NoHo Arts District and the Metro B and G Line station

Listed by Josh Kaplan (310.405.1890, DRE 01934177) and Troy Lucero (310.339.5477, DRE 02015705), Highlight Multifamily Group at Equity Union Commercial. Full details and offering memorandum request: highlightreg.com/listings/5631-whitnall-hwy-los-angeles-ca-91601/