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$3,695,000
Est. payment /mo
23 Beds
20 Baths
9,127 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 9,127 sqft
Price per Sqft $404
MLS Listing ID 26998011
Bedrooms 23
HOA Y/N No
Year Built 2025
Lot Size 6,987 Sqft
Property Description
Welcome to "The Case V," a newly built 2025 townhome-style apartment property, fully leased and stabilized with $25,645 in monthly rental income. Located in the heart of the North Hollywood Arts District, adjacent to Toluca Lake, this turnkey investment was built with a Senate Bill 8 exemption and is exempt from Los Angeles rent control. The property features four units plus an ADU, totaling 9,127 square feet on a 7,000-square-foot lot, with nine on-site parking spaces. The spacious unit mix includes two 5-bedroom, 4-bathroom units; two 5-bedroom, 4.5-bathroom units; and one 3-bedroom, 3.5-bathroom ADU. Each residence offers an in-unit washer and dryer, hardwood floors, stainless steel appliances, recessed lighting, and high-end finishes.Offered at $3,695,000, "The Case V" delivers an approximate 6.4% cap rate based on in-place rental income, assuming 20% operating expenses and a 4% vacancy allowance. Developed by Thornton Development Group, the property combines thoughtful design, meticulous craftsmanship, and the convenience of new construction. Set on a quiet residential street surrounded by other newly built properties, 5651 Case Ave places residents moments from the dining, entertainment, and creative energy of the North Hollywood Arts District and neighboring Toluca Lake. SELLER OPEN TO NEGOTIATING A CONTRIBUTION TOWARD A BUYER'S INTEREST RATE BUY DOWN, SUBJECT TO AN ACCEPTABLE PURCHASE PRICE AND MUTUALLY AGREED TERMS. Contact the listing agent today to request the offering memorandum and learn more about the seller's contribution toward an interest rate buy down.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LARD1.5
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Dishwasher, Microwave, Refrigerator, Dryer, Washer
Exterior
Parking Features Attached Carport, Carport, Driveway, Garage, Private, Tandem
Total Parking Spaces 9
Building
Story 3
Entry Level Multi/Split
Architectural Style Contemporary
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 2337029017
Special Listing Condition Standard
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Listed by Oliver Thornton Hollywood Estates #01969227
Nearby Locations
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