5505 Zelzah Avenue

    Encino, CA 91316
    • $11,500,000
    • STATUS: Active
    • ON SITE: 339 days
    • ID#: 19445006
    UPDATED: 13 min ago
    $11,500,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1978
    County:
    Area:

    School Ratings & Info

    Description

    HUGE PRICE REDUCTION-27+1NC (rent capped-C of O dated 1979) Upgraded Units in Encino with a 4.4% Cap Rate. It is leased almost 100% as 2 Bedroom Units with Washer/Dryer hookups in every unit. The property is being offered at a 4.4% Cap Rate and if you acquire the asset with a 5 year fixed loan available at 3.95% (i/o) Interest Only for the first 3 years the pre-tax cash flow would start at 5.01% . Recently a 2 Bedroom unit was leased above our market rents which proves that you could potentially achieve a 5.24% Cap Rate (with the loan fully amortized) just by increasing rents to market. Thus after you raise rents and switch to an Amortized loan you would have 4.55% Cash on Cash. This is an excellent return for a turn-key property that is in an A+ location with upgraded interiors.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-02-20T21:30:47.363. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway Home Services California Properties. Licensed in the State of California, USA.

    www.kevinhillre.com/homes/92784824

    5505 Zelzah Avenue Encino, CA 91316

    • Price: $11,500,000
    • Status: Active
    • Updated: 13 min ago
    • ID#: 19445006
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1978
    Built
    Neighborhood:
    ENC - Encino
    County:
    Los Angeles
    Area:
    ENC - Encino
    Property Description
    HUGE PRICE REDUCTION-27+1NC (rent capped-C of O dated 1979) Upgraded Units in Encino with a 4.4% Cap Rate. It is leased almost 100% as 2 Bedroom Units with Washer/Dryer hookups in every unit. The property is being offered at a 4.4% Cap Rate and if you acquire the asset with a 5 year fixed loan available at 3.95% (i/o) Interest Only for the first 3 years the pre-tax cash flow would start at 5.01% . Recently a 2 Bedroom unit was leased above our market rents which proves that you could potentially achieve a 5.24% Cap Rate (with the loan fully amortized) just by increasing rents to market. Thus after you raise rents and switch to an Amortized loan you would have 4.55% Cash on Cash. This is an excellent return for a turn-key property that is in an A+ location with upgraded interiors.
    Exterior Features

    Lot Size Source Assessor Parking Features Community Structure Parking YN Yes

    Interior Features

    Heating Central Heating YN Yes

    Property Features

    Gross Income 753552.00 Gross Multiplier 14.73 Gross Operating Income 757167.00 Net Operating Income 501887.00 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0.00 Zoning Lar3

    Listing provided courtesy of Kelly Morgan of Keller Williams-Santa Monica


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-02-20T21:30:47.363. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway Home Services California Properties. Licensed in the State of California, USA.

     
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