4530 Whitsett Avenue

Studio City, CA 91604

SOLD
Property Summary

Price:

Cap Rate:

GRM:

Gross Sq Ft:

Lot Size:

Approx Year Built:

Units:

Price Per Unit:

Price Per Sq Ft:

$2,125,000

4.06%

16.06

5,064

9,714

1984

6

$354,167

$420

Deal Highlights
  • Successfully Listed & Sold after 3 previous brokerage firms could not

  • Multiple Offers

  • 30 Day Close

  • Seller Carry Financing

  • 1031 Exchange Buyer

Asset Highlights
Property Description

The subject property is located at 4530 Whitsett Avenue in between Coldwater Canyon and Laurel Canyon in Studio City. This well maintained and operated non-rent controlled six-unit apartment buildings was built in 1984 and partially renovated in 2015.

 

The investment opportunity comprises of two buildings, one of which is a newly renovated vacant home and the other a five unit apartment building. There is also a large unit that is being used as storage that may be utilized as an office/storage or whatever an investor may see fit. Seeing that this entire property is non rent controlled, a savvy investor has the opportunity to bring the rents to market rate and realize a 20 percent increase in rents.

 

The apartment units consists of one one-bedroom/one-bath unit and four studios/one-bathroom units. The bottom two studios have private patios and the second floor studios have balconies. The home is two stories consisting of four bedrooms/ three-baths. The entire house has been completely renovated and is vacant. The interiors contain three wood burning fireplaces, high lofted ceiling on second floor and skylight. The kitchen has stainless steel appliances and granite counter tops and the home has onsite laundry. Additionally there are private patio's on the ground and upper level.

 

Amenities include onsite laundry and nine parking spots, five are open along with two-car garage attached to apartment building. The house has its own two-car garage. The subject property is within walking distance to local eateries, shopping centers, and is minutes away from the 101 and 405 freeways.

  • Prime Studio City Location

  • Non Rent Controlled Apartment

  • Immediate Rental Upside of Over 20 Percent

  • Owner User Opportunity

  • Bright and Spacious Units with Patios & Balconies

  • Ample Onsite Parking and Laundry

  • Located Near Many Employers and Eateries

THE FRYDMAN GROUP

Commercial Real Estate

Meir Mark Frydman

Managing Director

National Multi Housing Group

National Land Group

  • LinkedIn - White Circle
CONTACT

2701 Ocean Park Blvd#140

Santa Monica, CA 90405

Direct: (310)300-4844

Fax: (818)975-5319

Email: info@frydmangroup.com

www.FrydmanGroup.com

SUBSCRIBE FOR EMAILS

© 2017 by

CAL BRE#01499010