5626 Willowcrest AVE new Save Request In-Person Tour Request Virtual Tour
North Hollywood,CA 91601
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID BB25019276
HOA Y/N No
Year Built 2017
Annual Tax Amount $31,130
Lot Size 6,760 Sqft
Property Description
5626 Willowcrest Ave is a rare, non-rent controlled 2017 construction fourplex located in the highly desirable NoHo Arts/Toluca Woods Adjacent area, offered at an incredible price of $2,595,000! Finding newer construction in this price range—especially in such a prime location—is almost unheard of.
This property offers an impressive current cap rate of 4.92%, with a pro forma projection of 5.47% due to rapid growth in the rental market. The upside is undeniable, as the NoHo/Toluca Lake area continues to thrive with high rental demand fueled by low inventory. Situated on a quiet, residential street, this property is just moments away from Toluca Lake, the NoHo Arts District, and Burbank, providing tenants with unbeatable convenience and access to some of LA's most sought-after neighborhoods.
5626 Willowcrest features two two-story duplexes comprised of two 3-bedroom, 2.5-bath units and two 3-bedroom, 2-bath units, along with 8 garage parking spaces conveniently accessed through a back alley, offering the best parking setup possible for tenants. The property also boasts stainless steel appliances, in-unit washers and dryers, large open floor plans, separate meters for gas, water, and electricity, and minimal maintenance. These features, combined with the prime location and strong rental demand, make this a turnkey investment with steady returns for years to come.
The combination of ease of management, a strong cap rate, and the upside potential of the growing rental market makes this an unparalleled investment opportunity.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LARD1.5
Interior
Interior Features Balcony,Laminate Counters,Open Floorplan,Recessed Lighting,Walk-In Closet(s)
Heating Central
Cooling Central Air
Flooring Laminate
Fireplaces Type None
Fireplace No
Appliance Dishwasher,Freezer,Disposal,Gas Oven,Gas Range,Microwave,Dryer,Washer
Laundry Washer Hookup,Inside
Exterior
Parking Features Assigned,Garage,Garage Faces Rear,Tandem
Garage Spaces 8.0
Garage Description 8.0
Pool None
Community Features Street Lights,Sidewalks
View Y/N Yes
View City Lights,Neighborhood
Total Parking Spaces 8
Private Pool No
Building
Lot Description Landscaped,Street Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Architectural Style Modern
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2415023029
Acceptable Financing Submit
Listing Terms Submit
Special Listing Condition Standard