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$2,200,000
Est. payment /mo
6,849 Sqft Lot
UPDATED:
05/01/2023 11:07 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CNSR23026350
Style Other
Originating Board CRISNet
Year Built 1979
Lot Size 6,849 Sqft
Property Description
Presenting this 12-unit multifamily property at 5118 Klump Avenue, located in the very desirable NoHo Arts District neighborhood. Built in 1979, this property is free of LA's strict rent control laws, and is only subject to California's AB-1482, which limits annual rent increases to 5% + CPI. (buyer to confirm) giving the investor the opportunity to capitalize on over 80% upside potential in rents. This 3-story, 4,314-square-foot property sits on a 6,849-square-foot lot, and it boasts a great unit mix of twelve single apartments each with one full bath. Perfect for entry-level demographics NoHo is so popular for. The property offers laundry facilities as well as an elevator in the building allowing ease of access to all 3 floors. All units are bright and spacious and close to all of the grandeur that is the NoHo Arts District which is a one-square-mile community in North Hollywood that is home to more than 20 live, professional theaters, dance studios, art galleries, public art, music recording venues, acting and art workshops, international dining options, clothing and specialty shops, and businesses that create a myriad of art forms. NoHo is "Where the Arts Are Made." This is the first time this property has been on the market in over 20 years and sellers have never listed the
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Interior
Heating Heat Pump
Laundry Laundry Area
Exterior
Garage Spaces 14.0
Pool None
View None
Roof Type Other
Building
Foundation Other
Water District - Public
Architectural Style Other
Others
Tax ID 2353004016
Special Listing Condition Not Applicable
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Listed by Alexander Izbicki • RE/MAX One
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Sharad Gupta
Broker | License ID: 02213637
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