5505 Zelzah Avenue

    Encino, CA 91316
    • $12,000,000
    • STATUS: Active
    • ON SITE: 186 days
    • ID#: 19445006
    UPDATED: 230 min ago
    $12,000,000
    • 0
      BEDS
    • 0.49
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 29,536
      SQFT
    • $406
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1978
    County:
    Area:

    School Ratings & Info

    Description

    27+1NC Non Rent Control Upgraded Units in Encino with a Cash on Cash of 4.3%. It is leased almost 100% as 2 Bedroom Units withWasher/Dryer hookups in every unit. The property is being offered at a 4% Cap Rate and if you acquire the asset with a 5 year fixedavailable at 3.85% (i/o) Interest Only for the first 3 years the cash flow would start at 4.3%. Recently a 2 Bedroom unit was leasedclose to our market rents which proves that you could potentially achieve a 5% Cap Rate just by increasing rents. Thus after youraise rents and switch to an Amortized loan you would still have 4.17% Cash on Cash.Also take a look at the cash flow analysis on page 38 and you will see a scenario that would achieve a 20.5% Average Annual ROI.That will double your investment in five years.That's an amazing return for a property that is in an A+ neighborhood with 100% of the interiors already upgraded.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-20T00:45:44.837. 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: $12,000,000
    • Status: Active
    • Updated: 230 min ago
    • ID#: 19445006
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.49
    Acres
    29,536
    SQFT
    $406
    $/SQFT
    1978
    Built
    Neighborhood:
    ENC - Encino
    County:
    Los Angeles
    Area:
    ENC - Encino
    Property Description
    27+1NC Non Rent Control Upgraded Units in Encino with a Cash on Cash of 4.3%. It is leased almost 100% as 2 Bedroom Units withWasher/Dryer hookups in every unit. The property is being offered at a 4% Cap Rate and if you acquire the asset with a 5 year fixedavailable at 3.85% (i/o) Interest Only for the first 3 years the cash flow would start at 4.3%. Recently a 2 Bedroom unit was leasedclose to our market rents which proves that you could potentially achieve a 5% Cap Rate just by increasing rents. Thus after youraise rents and switch to an Amortized loan you would still have 4.17% Cash on Cash.Also take a look at the cash flow analysis on page 38 and you will see a scenario that would achieve a 20.5% Average Annual ROI.That will double your investment in five years.That's an amazing return for a property that is in an A+ neighborhood with 100% of the interiors already upgraded.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features Community Structure Parking YN Yes

    Interior Features

    Appliances None Appliances YN No Laundry Features None

    Property Features

    Gross Multiplier 15.75 Gross Operating Income 738962.00 Improvements Amount 1890770 Land Value 1668326 Laundry YN No Net Operating Income 478379.00 Special Listing Conditions Standard Total Expenses 260643.00 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 2019-09-20T00:45:44.837. 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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