5325 Denny AveLos Angeles, CA 91601

This exceptional 17-unit apartment building, located at 5325 Denny Avenue in North Hollywood, CA 91601, presents a compelling value-add investment opportunity. Boasting approximately 15,314 square feet of net rentable space on a 13,500 square foot lot, the property features a desirable mix of unit sizes, including studios, one, two, and three-bedroom apartments, averaging approximately 901 square feet. Built in 1989, this two-story building offers numerous amenities, including a secured parking garage, on-site laundry facilities, a beautifully landscaped courtyard with a BBQ area and outdoor seating. Units are well-maintained and feature modern kitchens with stainless steel appliances, dishwashers, HVAC central air conditioning, ceiling fans, horizontal blinds, balconies, fireplaces, and laminate plank wood and carpet flooring. The property currently generates a NOI of $310,825, representing a 4.00% cap rate, with a pro-forma NOI of $367,574 and a pro-forma cap rate of 4.72%, indicating significant upside potential. Its prime location in North Hollywood offers convenient access to major freeways (101, 170, 134, 405, and 210), the NOHO Arts District, and numerous employment centers, including Universal Studios and Warner Bros. The asking price is $7,780,000, or $457,647 per unit, and $508.03 per square foot. This property is ideally suited for investors seeking a stable, income-producing asset with substantial growth potential in a highly sought-after location. The property's strong historical occupancy and high rental demand further enhance its investment appeal. This is a rare opportunity to acquire a superbly maintained and well-situated asset in a thriving neighborhood.