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$2,750,000
Est. payment /mo
22 Beds
15 Baths
9,748 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 9,748 sqft
Price per Sqft $282
MLS Listing ID 25551355
Bedrooms 22
HOA Y/N No
Year Built 1987
Lot Size 0.266 Acres
Property Description
We are pleased to present 5621 Klump Avenue, a rare 9-unit 1987construction (not subject to LA RS0) value-add multifamily investment opportunity in the heart of North Hollywood, CA. This unique property is comprised of an excellent unit mix of (5) large two-story 3 Bed / 2 Bath units, (1) 2 Bedroom / 2 Bath unit, (2) 2 Bed / 1Bath Units, and (1) Studio. This fully occupied value-add investment opportunity presents approximately 53% rental upside potential. Built in 1987, the 9unit building does not fall under LA City RSO, but falls under California State AB1482, which allows for 5% + CPI annual increases (8.8% in2025). The property has been well maintained with a newly re-paved parking lot and driveway that is fully secured and gated. The parking lot includes 11 surface parking spaces and arear tuck under 3-car garage that is currently used as storage, presenting an excellent ADU conversion opportunity. The property is strategically located just north of Burbank Boulevard and just east of Lankershim Boulevard in the heart of North Hollywood, one of the SFV's most desirable rental locations. Tenants benefit from the property's walkability to the Metro Red Line, NoHo Arts District, boutique restaurants, retailers, and entertainment venues. 5621 Klump Avenue is a truly rare find and one of the lowest price per unit and price per square foot AB1482 opportunities in the entire San Fernando Valley.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LARD1.5
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry Common Area
Exterior
Parking Features Concrete, Door-Multi, Driveway, Garage, Garage Door Opener, Gated
Garage Spaces 3.0
Garage Description 3.0
Pool None
Total Parking Spaces 14
Private Pool No
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2337034036
Special Listing Condition Standard
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Listed by Brandon Evans • Lyon Stahl Investment Real Estate, Inc.