4904 Tujunga Ave
North hollywood, ca
Marcus & Millichap is pleased to present this 8 unit multifamily property located in an ideal NoHo Arts District location, just outside of Toluca Lake. Situated on the corner of Tujunga Ave and Huston St, just north of Camarillo st, this property has a total square footage of 5,831 Sq.Ft., and it sits on a lot size of 6,972 Sq.Ft (0.16 Acres).
Built in 1957, the property boasts an excellent unit mix of four 1-bed/1-bath units and four 2-bed/1-bath units. Furthermore, the property has had two recent vacancies, which will be kept vacant for the sale, allowing the perfect opportunity for an owner user, or simply for an investor to achieve full market rents right away on two of the eight units.
This investment allows for the opportunity to add value, with an estimated rental upside of 38%. Also, with current interest rates around 3.85%, a buyer can expect to receive a 60% loan to value, which would mean a down payment of around $940,000. From day 1, this would achieve a total return of over 4.5%, with still the strong potential to increase rents over time.
4904 Tujunga Ave is the perfect opportunity for an investor to acquire an ideally located corner-lot, value-add property with two very valuable vacancies delivered at close of escrow.