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5060 Bakman Avenue
North Hollywood, CA 91601
Sold
5060 Bakman Avenue
North Hollywood, CA 91601
Sold
5060 Bakman Avenue is a rare 14-unit multifamily property spanning 6,900 SF, located in the vibrant heart of North Hollywood. The unit mix comprises (14) 1 Bed + 1 Bath units, with 3 units delivered vacant, providing potential for immediate occupancy or strategic repositioning. Located on an 11,250 SF lot and Zoned LAR4 within a TOC zone, paves the way for potential development opportunities. For added convenience, the property also features 14 assigned parking spaces on a large, paved parking lot, and an on-site laundry room.The property provides the opportunity to reposition and upgrade the apartment building to capture premium market rents. Once stabilized, investors can anticipate an 8%+ Cap Rate and a 13.8 +/- GRM. With the potential to scale operations and optimize expenses, there's a tangible opportunity to achieve an even higher rate of return. This makes 5060 Bakman Avenue a valuable addition to any savvy investor's portfolio, especially in the highly coveted NOHO district, which consistently witnesses rental growth and attracts a steady influx of new residents each year.Residents are drawn to this North Hollywood enclave for its trendy dining spots, as well as its eclectic shopping destinations and abundant local employment opportunities. The property's location ensures residents have unparalleled access to parking and public transportation, facilitating seamless commutes to prominent areas like Studio City, Valley Village, Toluca Lake, Hollywood, Universal City, DTLA, and Sherman Oaks.
PROPERTY INFORMATION
| MLS # | 23307309 | Lot Size | 11,250 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 3,100,000
Price Per SqFt: $ 449 |
DOM | 653 Days |
| Address | 5060 Bakman Avenue | Type | Residential Income |
| City | North Hollywood | Sq.Ft. | 6,900 Sq. Ft. |
| Postal Code | 91601 | Garage | N/A |
| County | Los Angeles | Year Built | 1962 |
| Bed / Bath | 14 / 0 | Parking | 14 |
| Built In | 1962 | Status | Closed |
| Sold Date | 2023-11-27 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Washer Included, Community, Individual Room |
| Has Fireplace | No |
| Fireplace Information | None |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Room Information | Living Room |
| Has Cooling | Yes |
| Cooling Information | Wall/Window Unit(s), Evaporative Cooling |
| Flooring Information | Vinyl, Carpet, Tile |
| Has Spa | No |
| SpaDescription | None |
| Bathroom Information | Tile Counters |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $3,307
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 11/06/2023 | Active Under Contract | $3,100,000 |
| 09/13/2023 | Listed | $3,100,000 |
Topfind Realty
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(844)-333-8033
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Listing provided courtesy of David Weinberger, Keller Williams Studio City. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
