5651 Case Avenue,North Hollywood, CA 91601
North Hollywood, CA 91601
Description
Welcome to "The Case V" a brand-new, FULLY STABILIZED & RENTED 2025 townhome-style apartment building with $25,445/month rental income situated in the heart of the North Hollywood Arts District, adjacent to Toluca Lake. Built with a Senate Bill 8 exemption, this property is not subject to Los Angeles rent control, making it an exceptional investment opportunity. The property consists of four units plus an ADU, totaling 9,127 square feet on a spacious 7,000-square-foot lot. The well-designed 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 unit features an inunit washer and dryer, hardwood floors, stainless steel appliances, and recessed lighting, offering residents a luxurious, modern living experience. Listed at just $3,995,000, this turnkey investment delivers a 5.87% CAP rate (underwritten on 20% operating expenses w/ 4% vacancy rate) on in-place income in a prime location alongside many other newly constructed properties on the same street. Built with class and elegance by Thornton Development Group, the property showcases high-end finishes and meticulous craftsmanship. Nestled in a quiet residential neighborhood surrounded by new construction, 5651 Case Ave offers the perfect balance of tranquility and accessibility moments from the vibrant energy of the North Hollywood Arts District and the prestige of Toluca Lake. ELIGIBLE FOR 100% BONUS DEPRECIATION WITH ESTIMATED YEAR 1 FEDERAL TAX DEDUCTIONS OF APPROXIMATELY $193,000, VERIFIED BY A LEGITIMATE COST SEGREGATION EXPERT! Don't miss this exceptional opportunity to secure your place in one of Los Angeles' most sought after rental markets. Request the OM and a cost segregation estimate for bonus depreciation from the listing agent today!
Details
| MLS # | 26857873 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 2025 |
| Days On Site | 55 |
| Listing Provided By | Hollywood Estates | Oliver Thornton |
Features
| Bed(s) | 23 |
|---|---|
| Bath(s) | 20 |
| SQ Feet | 9,127 |
| Car Port | Yes |
| Story(s) | 3 |
| Units | 5 |
| Building(s) | 2 |
| Zoning | LARD1.5 |
| Acreage | 0.16 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Appliances | Dishwasher, Microwave, Refrigerator, Dryer, Washer |
Parking
| Attached Garage Yes / No | Yes |
|---|---|
| Parking Features | Attached Carport, Carport, Driveway, Garage, Private, Tandem |
| Garage Yes / No | Yes |
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | North Hollywood |
| Zip Code | 91601 |
| Area | NHO North Hollywood |
| Listing VS Median (in 91601) | |
Price: $3,795,000 low | high Med: $15,248 sqft: 9,127 low | high Med: 2,762 $ / sqft: $416 low | high Med: $6 On site: 55 low | high Med: 69.5 | |
Market Activity 91601
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | North Hollywood |
| Zip Code | 91601 |
| Area | NHO North Hollywood |
| Listing VS Median (in 91601) | |
Price: $3,795,000 low | high Med: $15,248 sqft: 9,127 low | high Med: 2,762 $ / sqft: $416 low | high Med: $6 On site: 55 low | high Med: 69.5 | |
