13218 Barbara Ann,  North Hollywood CA, 91605 (Residential Income)

20,132 sqft
Status: Sold
MLS#: SR14088061
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Last Updated: 12/5/2016 11:13 PM
Description for 13218 Barbara Ann North Hollywood, CA 91605
The 13218 Barbara Ann St. apartment complex is comprised of 26 garden-style apartment units in one two-story building built in the 1960's, zoned LAR3. It's comprised of a highly desirable unit mix of 14 (1+1), 11 (2+2), and 1 (2+1.5) units. The property offers residents onsite laundry facilities, a swimming pool, and parking. With the property's rents currently below market levels, opportunity exists to renovate the units and garner higher rents that are more in line with market. A well-maintained building offering desirable rental upside, this asset can be purchased at an attractive $138,269/unit and a cap rate of 5.06%. The property is located south of Sherman Way and west of Coldwater Canyon in North Hollywood at the end of a cul-de-sac. Daily conveniences in the immediate area abound, including a wide variety of stores, restaurants, banks, and supermarkets all along Sherman Way. Close proximity to the 170 Freeway makes it convenient to travel to Downtown LA, Universal City, Hollywood, Glendale, and Burbank via the 5, 134, and 101 Freeways. Centrally located to the neighborhoods of Valley Glen, Valley Village, and Studio City, and approx. 2.2 miles to Los Angeles Valley College, 1.2 miles to Valley Plaza Park, and 4 miles to NoHo Arts District.
Price
Sold Price:
$3,595,000
Sold Date:07/11/2014
Los Angeles
20,132 (approx)
SR14088061
Closed
Description
The 13218 Barbara Ann St. apartment complex is comprised of 26 garden-style apartment units in one two-story building built in the 1960's, zoned LAR3. It's comprised of a highly desirable unit mix of 14 (1+1), 11 (2+2), and 1 (2+1.5) units. The property offers residents onsite laundry facilities, a swimming pool, and parking. With the property's rents currently below market levels, opportunity exists to renovate the units and garner higher rents that are more in line with market. A well-maintained building offering desirable rental upside, this asset can be purchased at an attractive $138,269/unit and a cap rate of 5.06%. The property is located south of Sherman Way and west of Coldwater Canyon in North Hollywood at the end of a cul-de-sac. Daily conveniences in the immediate area abound, including a wide variety of stores, restaurants, banks, and supermarkets all along Sherman Way. Close proximity to the 170 Freeway makes it convenient to travel to Downtown LA, Universal City, Hollywood, Glendale, and Burbank via the 5, 134, and 101 Freeways. Centrally located to the neighborhoods of Valley Glen, Valley Village, and Studio City, and approx. 2.2 miles to Los Angeles Valley College, 1.2 miles to Valley Plaza Park, and 4 miles to NoHo Arts District.
Listing Information
Property Type: Cluster, Other
0.59 Acres 20,132 (approx)
1963
Sewer at Street
26 Total
Neighborhood
Room Information
Exterior / Lot Features
26 Parking Spaces
Pool
Community Pool, In-ground
Gutters, Sidewalks, Street Lights, Curbs Walk, Suburban
Community Features
Community Pool
Driving Directions
Coldwater Canyon to Sherman Way. West on Sherman Way. South on Ethel Ave. West on Barbara Ann.
Financial Considerations
2327004032
$331,615 Income ,$133,301Expense
Listing Price History

North Hollywood Real Estate

North Hollywood is located in California. North Hollywood, California 91605 has a population of 156,398.

The median household income in North Hollywood, California 91605 is $50,828. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in North Hollywood 91605 is 34 years.

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Courtesy: Keller Williams Realty Calaba Raymond Rodriguez
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