10847 Morrison St
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10847 Morrison St
6 Unit Block of Flats £3,522,593 (£587,099/Unit) 5.92% Net Initial Yield North Hollywood, CA 91601
Investment Highlights
- Brand New 2024 Construction – High End Finishes by one of the top Townhome Developers in LA! Enjoy the Benefits of Modern Design & Luxury.
- PROPERTY is NOT subject to Rent Control: Built with an SB8 Exemption certificate the property is exempt from Radical Los Angeles Rent Control.
- Desirable NoHo Arts District Location Adjacent to Toluca Lake - Situated south of Magnolia Blvd and East of Vineland
- Excellent Unit Mix - (4) 4 Bed/4 Bath with Private Roof decks, (1) 2 Bed/2 Bath & (1) 2 Bed/1 Bath [All with in unit Washer/Dryer]
- TOWNHOUSE STYLE UNITS: Large & Spacious Townhouse Style Units that provide a sense of individuality and privacy, mimicking single-family home living.
- Priced at ONLY $429/SF & 5.92% CAP RATE!
Executive Summary
The offering is a Brand New 2024 Townhome Style Apartment Building situated in the heart of North Hollywood Arts District adjacent to Toluca Lake. Built with a Senate Bill 8 Exemption this property is not subject to Radical Los Angeles Rent Control. The property consists of 5 Units + 1 Efficiency Unit for a total of 10,242 SF on a large 8,200 Lot. There is an excellent unit mix consisting of Four – 4 Bedroom / 4 Bedroom units with Private Rooftop Decks and Private Garages, One 2 Bedroom / 2 Bathroom ADU with a private back yard and One 2 Bedroom / 1 Bathroom Efficiency Unit. All units contain in Unit Washer & Dryer, Hardwood Floors, Stainless Steel Appliances and Recess Lighting. Listed at only $4,395,000 this Turnkey Offering provides a Savvy Investor an immediate 5.92% CAP RATE in a prime Location! Built with Class and Elegance by one of the top Townhome Developers in Los Angeles with high end Finishes. Situated South of Magnolia Blvd and East of Vineland, the Offering is Located in a Quiet Residential Neighborhood adjacent the live Action of North Hollywood Arts District, and the Prestige of Toluca Lake.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £3,522,593 | Apartment Style | Low Rise |
| Price Per Unit | £587,099 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Net Initial Yield | 5.92% | Building Size | 10,242 SF |
| Gross Rent Multiplier | 12.37 | Average Occupancy | 50% |
| No. Units | 6 | Number of Floors | 3 |
| Property Type | Residential | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 0.98/1,000 SF |
| Price | £3,522,593 |
| Price Per Unit | £587,099 |
| Sale Type | Investment |
| Net Initial Yield | 5.92% |
| Gross Rent Multiplier | 12.37 |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 10,242 SF |
| Average Occupancy | 50% |
| Number of Floors | 3 |
| Year Built | 2024 |
| Parking Ratio | 0.98/1,000 SF |
Unit Amenities
- Microwave
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 4+4 | 2 | £4,809 | 2,000 - 2,001 |
| 4+4 | 2 | £4,609 | 2,000 - 2,001 |
| 2+2 | 1 | £2,725 | 1,000 |
| 2+1 | 1 | £2,164 | 1,000 |
Walk Score ®
Very Walkable (88)
zoning
| Zoning Code | LARD1.5 |
| LARD1.5 |
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10847 Morrison St
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