5626 Willowcrest Ave
North Hollywood, CA 91601
FULLY STABILIZED 2017 FOURPLEX | PRIME NOHO · Multifamily Property For Sale · 4 Units
INVESTMENT HIGHLIGHTS
- Impossibly low price tag for a newer construction fourplex!
- Low maintenance, fully stabilized property.
- Easy, low maintenance tenants that diligently pay rent.
- Huge upside, thanks to high rental demand fueled by low inventory!
- Current cap rate of 4.92%! Pro forma cap rate of 5.47%.
- All units separately metered for gas, electric AND water! No rent control!!
EXECUTIVE SUMMARY
The 2-4 Unit Specialists are thrilled to present 5626 Willowcrest Ave, a rare, non-rent controlled 2017 construction fourplex located in the highly desirable NoHo Arts/Toluca Woods Adjacent area, offered at an incredible price of $2,595,000! Finding newer construction in this price range—especially in such a prime location—is almost unheard of.
This property offers an impressive current cap rate of 4.92%, with a pro forma projection of 5.47% due to rapid growth in the rental market. The upside is undeniable, as the NoHo/Toluca Lake area continues to thrive with high rental demand fueled by low inventory. Situated on a quiet, residential street, this property is just moments away from Toluca Lake, the NoHo Arts District, and Burbank, providing tenants with unbeatable convenience and access to some of LA’s most sought-after neighborhoods.
5626 Willowcrest features two two-story duplexes comprised of two 3-bedroom, 2.5-bath units and two 3-bedroom, 2-bath units, along with 8 garage parking spaces conveniently accessed through a back alley, offering the best parking setup possible for tenants. The property also boasts stainless steel appliances, in-unit washers and dryers, large open floor plans, separate meters for gas, water, and electricity, and minimal maintenance. These features, combined with the prime location and strong rental demand, make this a turnkey investment with steady returns for years to come.
Management of this property is incredibly seamless, and we can vouch for that firsthand as our company currently manages it. The combination of ease of management, a strong cap rate, and the upside potential of the growing rental market makes this an unparalleled investment opportunity.
This property offers an impressive current cap rate of 4.92%, with a pro forma projection of 5.47% due to rapid growth in the rental market. The upside is undeniable, as the NoHo/Toluca Lake area continues to thrive with high rental demand fueled by low inventory. Situated on a quiet, residential street, this property is just moments away from Toluca Lake, the NoHo Arts District, and Burbank, providing tenants with unbeatable convenience and access to some of LA’s most sought-after neighborhoods.
5626 Willowcrest features two two-story duplexes comprised of two 3-bedroom, 2.5-bath units and two 3-bedroom, 2-bath units, along with 8 garage parking spaces conveniently accessed through a back alley, offering the best parking setup possible for tenants. The property also boasts stainless steel appliances, in-unit washers and dryers, large open floor plans, separate meters for gas, water, and electricity, and minimal maintenance. These features, combined with the prime location and strong rental demand, make this a turnkey investment with steady returns for years to come.
Management of this property is incredibly seamless, and we can vouch for that firsthand as our company currently manages it. The combination of ease of management, a strong cap rate, and the upside potential of the growing rental market makes this an unparalleled investment opportunity.
PROPERTY FACTS
Price Per Unit | $648,750 |
Sale Type | Investment |
Cap Rate | 4.92% |
Gross Rent Multiplier | 15.12 |
No. Units | 4 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.16 AC |
Building Size | 5,815 SF |
Average Occupancy | 100% |
No. Stories | 2 |
Year Built | 2017 |
Parking Ratio | 1.38/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Double Pane Windows
- Instant Hot Water
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
3+2.5 | 2 | $3,500 | 1,540 - 1,590 |
3+2 | 2 | $3,650 | 1,277 - 1,408 |
PROPERTY TAXES
Parcel Number | 2415-023-029 | Improvements Assessment | $1,150,000 |
Land Assessment | $1,400,000 | Total Assessment | $2,550,000 |
ZONING
Zoning Code | LARD1.5 |