Radford Apartments | 6836 Radford Ave
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Radford Apartments 6836 Radford Ave
16 Unit Block of Flats £2,523,401 (£157,713/Unit) 5.07% Net Initial Yield North Hollywood, CA 91605
Investment Highlights
- $204,562/unit with One, Two & Three Bedroom Units
- Opportunity to increase NOI by effective management
- Approx. 30% Rental Upside
Executive Summary
Just reduced $50,000! Motivated Seller. This 16-unit apartment building in North Hollywood comprises a unit mix of 1, 2, and 3-bedroom units with an average size of 778 square feet. Built in 1964, this property is separately metered for gas and electricity. Amenities include a secured entrance, secured tuck-under parking and a laundry room. Located in close proximity to the Metro, the 170 freeway, and Bob Hope Airport, the property is conveniently located to public transportation . There is approximately 30% rental upside, offering a great opportunity to buy a value-add building from a long-term owner.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£234,641
|
£18.83
|
| Other Income |
£1,972
|
£0.16
|
| Vacancy Loss |
£7,039
|
£0.56
|
| Effective Gross Income |
£229,574
|
£18.42
|
| Taxes |
£34,232
|
£2.75
|
| Operating Expenses |
£75,207
|
£6.04
|
| Total Expenses |
£109,439
|
£8.78
|
| Net Operating Income |
£120,135
|
£9.64
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £234,641 |
| Annual Per SF | £18.83 |
| Other Income | |
|---|---|
| Annual | £1,972 |
| Annual Per SF | £0.16 |
| Vacancy Loss | |
|---|---|
| Annual | £7,039 |
| Annual Per SF | £0.56 |
| Effective Gross Income | |
|---|---|
| Annual | £229,574 |
| Annual Per SF | £18.42 |
| Taxes | |
|---|---|
| Annual | £34,232 |
| Annual Per SF | £2.75 |
| Operating Expenses | |
|---|---|
| Annual | £75,207 |
| Annual Per SF | £6.04 |
| Total Expenses | |
|---|---|
| Annual | £109,439 |
| Annual Per SF | £8.78 |
| Net Operating Income | |
|---|---|
| Annual | £120,135 |
| Annual Per SF | £9.64 |
Property Facts In Escrow
| Price | £2,523,401 | Apartment Style | Low Rise |
| Price Per Unit | £157,713 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Net Initial Yield | 5.07% | Building Size | 12,461 SF |
| Gross Rent Multiplier | 10.5 | Number of Floors | 2 |
| No. Units | 16 | Year Built | 1964 |
| Property Type | Residential | Parking Ratio | 1.36/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | £2,523,401 |
| Price Per Unit | £157,713 |
| Sale Type | Investment |
| Net Initial Yield | 5.07% |
| Gross Rent Multiplier | 10.5 |
| No. Units | 16 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 12,461 SF |
| Number of Floors | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.36/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Balcony
- Storage Space
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | 750 |
| 2+1 | 3 | - | 900 |
| 2+1.5 | 2 | - | 900 |
| 3+1.5 | 1 | - | 1,200 |
| 3+2.5 | 1 | - | 1,200 |
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Walk Score ®
Very Walkable (75)
Bike Score ®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 2321-021-011 | Total Assessment | £1,276,673 |
| Land Assessment | £766,004 | Annual Taxes | £34,232 (£2.75/sf) |
| Improvements Assessment | £510,669 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
2321-021-011
Land Assessment
£766,004
Improvements Assessment
£510,669
Total Assessment
£1,276,673
Annual Taxes
£34,232 (£2.75/sf)
Tax Year
2024
zoning
| Zoning Code | RD1.5 (Restricted Density Multiple Dwelling) |
| RD1.5 (Restricted Density Multiple Dwelling) |
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Radford Apartments | 6836 Radford Ave
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