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5118 Klump Avenue
North Hollywood, CA 91601
Sold
5118 Klump Avenue
North Hollywood, CA 91601
Sold
HUGE PRICE IMPROVEMENT! Check out this low-maintenance building with a great GRM and cap rate! 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 units (8 Studios and 4 Bachelors) each with one full bath. The unit breakdown is as follows... 6 Studios, 4 Guest Units and 2 Mini one-bedroom units! 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. Perfect rental mix for the entry-level demographics NoHo is so popular for. One unit vacating 6/30/23 The property offers laundry facilities in the building. 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 property for sale since, making this a rare opportunity to own a generational asset in a robust rental market.
PROPERTY INFORMATION
| MLS # | SR23026350 | Lot Size | 6,849 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Commercial/Residential |
| Price | $ 1,890,000
Price Per SqFt: $ 438 |
DOM | 732 Days |
| Address | 5118 Klump Avenue | Type | Residential Income |
| City | North Hollywood | Sq.Ft. | 4,314 Sq. Ft. |
| Postal Code | 91601 | Garage | 12 |
| County | Los Angeles | Year Built | 1979 |
| Bed / Bath | 0 / 0 | Parking | 14 |
| Built In | 1979 | Status | Closed |
| Sold Date | 2023-07-13 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Common Area |
| Has Heating | Yes |
| Heating Information | Heat Pump |
| EntryLocation | Stairs |
| Entry Level | 2 |
| SecuritySafety | Security Lights |
EXTERIOR FEATURES
| FoundationDetails | See Remarks |
| Roof | See Remarks |
| Has Pool | No |
| Pool | None |
| Has Fence | No |
| Fencing | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,016
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 07/13/2023 | Sold | $1,750,000 |
| 07/03/2023 | Pending | $1,890,000 |
| 06/16/2023 | Relisted | $1,890,000 |
| 04/30/2023 | Listed | $2,200,000 |
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Listing provided courtesy of Alexander Izbicki, RE/MAX One. 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.
