Cap Rate 4.00%
Price Per SF $357
Price Per Unit $593,243
Gross Sq. Footage 61,452 SF
Year Built 2008
Matthews Real Estate Investment Services is pleased to present the opportunity to acquire a 37-unit condominium community located in prime North Hollywood, CA. Built in 2008, the property consists of one two-bedroom, one-bathroom, eight two-bedroom, two-bathroom, twenty three-bedroom, two-bathroom and eight four-bedroom, three-bathroom units. All units offer large spacious floor plans with an average unit size of approximately 1,642 square feet and over 75% of the building comprised of three-bedroom and four-bedroom units. Units are equipped with stainless steel appliances, fireplaces, in-unit washer and dryers, an abundant amount of storage and modern kitchens and bathrooms. Select units have private third floor patios or large ground floor outdoor spaces.
This pride of ownership consists of lush landscaping, a central courtyard, double pane windows throughout the property and a new intercom system with active security cameras. Additionally, tenants benefit from access to the community fitness facility, outdoor lounge area, gated reserved parking as well as guest parking.
Located in the heart of North Hollywood, the property is just minutes away from the NOHO Arts District offering tenants access to contemporary theaters, art galleries, cafes, nightlife, art classes and shopping. The property’s proximity to the 170/Hollywood Freeway, provides easy access to surrounding neighborhoods in Los Angeles as well as the 101 & 134 Freeways. Public transportation options include the North Hollywood Metro Station – Red Line which connects the property to the rest of the San Fernando Valley, Hollywood, Downtown Los Angeles and Union Station.