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6742 Lemp Avenue, North Hollywood, CA 91606
$1,500,000
6742 Lemp Avenue, North Hollywood, CA 91606View this property at 6742 Lemp Avenue, North Hollywood, CA 91606
6742 Lemp AvenueNorth HollywoodCA91606
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Property Description
Amazing 5 unit investment property in North Hollywood, CA. Building is approximately 5,103 sq ft. The Seller has APPROVED PERMITS WITH the CITY to construct an ADU which would provide additional rental income and increase the ROI. Proforma rents are $13,100 per month allowing the landlord to collect over $157,200 a year in Annual Gross Income. All tenants are long term and are on a month to month lease. This is a stable investment that would allow Landlord to hedge inflation with a large upside in rents. Once rents are stabilized you will have a 7.7% Cap. This great investment has a unit mix of (2) 3Bed/2B and (3) 2Bed/1B. This property has updated windows that were installed 1 year ago. On site coin laundry. The 3 units upstairs have newer AC units that were installed 2 years ago. The building sits on a large 6,754 sq ft lot conveniently located near the NoHo Arts District complete with shops, restaurants, movie theaters and cafes. It is also just minutes from the world famous Universal Studios Hollywood. Bring your best offers, this will sell FAST!
Full Property Details
Full Property Details for 6742 Lemp Ave
General
- Sold For: $1,500,000
- Status: Closed
- Type: Multi-Family
- MLS ID: AR22014273
- Added to Site: 834 day(s) ago
Interior
- Fireplace(s): None
Rooms
Other Rooms
- Laundry: Outside
Additional Information
- Pool Description: None
- Spa Description: None
Parking
- Parking Features: Attached Carport
- Parking: Attached Carport
Location
- Area: NHO - North Hollywood
- County: Los Angeles
- Development Name: NHO - North Hollywood
- Driving Directions: Property off of Lankershim Blvd. & Vanowen St.
Heating & Cooling
- Cooling Type: Central Air, Wall/Window Unit(s)
- Heating Type: Central, Wall Furnace
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 1
- # Gas Meters: 6
- # Electric Meters: 6
Structural Information
- Roof: Composition
- Windows: Double-Pane Windows
- Stories/Levels: Two
- Stories Description: Two
- Square Feet: 5,103
- Year Built: 1962
Unit Information
Unit 1
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 2
- Number of Units: 1
- Total Bathrooms: 2
- Bedrooms: 3
Unit 3
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 4
- Number of Units: 1
- Total Bathrooms: 2
- Bedrooms: 3
Unit 5
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 2
Lot Features
- Property View: City Lights
- Lot Size (Acres): 0.1551
- Lot Size Source: Assessor
- Zoning: LARD1.5
- Lot Description: Lot 6500-9999, Level
Financial Considerations
- Price Per Sq. Ft.: $293.94
- Price Per Unit: 319978
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed by Provenio Realty and Investment, Pablo Pomes
Sold by Provenio Realty and Investment, Mike Vachani
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Schools
Schools serving 6742 Lemp Ave
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
6501 Fair Ave, N Hollywood, CA 91606 | K-5 | 0.6 mi | |
6501 Laurel Canyon Blvd, N Hollywood, CA 91606 | 6-8 | 0.8 mi | |
5231 Colfax Ave, N Hollywood, CA 91601 | 9-12 | 1.9 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 6742 Lemp Ave
Date
Details
Price
Change
Source
4/15/2022
Sold
$1,500,000
-6.24%
MLS
1/28/2022
Listed
$1,599,888
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
6742 Lemp Avenue, North Hollywood, CA 91606 (MLS# AR22014273) is a Multi-Family property that was sold at $1,500,000 on April 15, 2022. Want to learn more about 6742 Lemp Avenue? Do you have questions about finding other Multi-Family real estate for sale in North Hollywood? You can browse all North Hollywood real estate or contact a Coldwell Banker agent to request more information.