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Listed by Elizabeth J. Maddox • Myunits.com Inc.
$ 2,595,000
Est. payment /mo
Active
5626 Willowcrest Avenue North Hollywood, CA 91601
5,815 SqFt
UPDATED:
Key Details
Property Type Other Types
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 5,815 sqft
Price per Sqft $446
MLS Listing ID BB-25019276
Style Modern
Year Built 2017
Lot Size 6,760 Sqft
Property Sub-Type Quadruplex
Property Description
5626 Willowcrest Ave is a rare, non-rent controlled 2017 construction fourplex located in the highly desirable NoHo Arts/Toluca Woods Adjacent area, offered at an incredible price of $2,595,000! Finding newer construction in this price range--especially in such a prime location--is almost unheard of. This property offers an impressive current cap rate of 4.92%, with a pro forma projection of 5.47% due to rapid growth in the rental market. The upside is undeniable, as the NoHo/Toluca Lake area continues to thrive with high rental demand fueled by low inventory. Situated on a quiet, residential street, this property is just moments away from Toluca Lake, the NoHo Arts District, and Burbank, providing tenants with unbeatable convenience and access to some of LA's most sought-after neighborhoods. 5626 Willowcrest features two two-story duplexes comprised of two 3-bedroom, 2.5-bath units and two 3-bedroom, 2-bath units, along with 8 garage parking spaces conveniently accessed through a back alley, offering the best parking setup possible for tenants. The property also boasts stainless steel appliances, in-unit washers and dryers, large open floor plans, separate meters for gas, water, and electricity, and minimal maintenance. These features, combined with the prime location and strong rental demand, make this a turnkey investment with steady returns for years to come. The combination of ease of management, a strong cap rate, and the upside potential of the growing rental market makes this an unparalleled investment opportunity.
Location
State CA
County Los Angeles
Zoning LARD1.5
Interior
Interior Features Balcony, Laminate Counters, Open Floorplan, Recessed Lighting
Heating Central
Cooling Central Air
Flooring Laminate
Fireplaces Type None
Laundry Dryer Included, Inside, Washer Hookup, Washer Included
Exterior
Parking Features Garage Faces Rear, Tandem Garage, Assigned
Garage Spaces 8.0
Pool None
Community Features Sidewalks, Street Lights
View Y/N Yes
View City Lights
Building
Lot Description Landscaped, Level with Street
Sewer Public Sewer