x
Address
5505 ZELZAH Avenue Encino, CA
Price
$ 11,500,000
Property Attributes
  • MLS#19445006
  • TypeIncome
  • CountyLOS ANGELES
  • CityEncino
  • AreaEncino
  • Zip91316
  • Style
  • Price$ 11,500,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
Listing Provided Courtesy Of:
Kelly Morgan with Keller Williams-Santa Monica.
Property Description

$172,500 Commission to the Buyer's Agent (at list price) 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.

Price History
3/18/2019 Listed $12,000,000
12/19/2019 5% - $11,500,000

General Features

Directions West of White Oak Ave., Just North of Ventura Blvd
Listagentaor Out of Area Board
Listing Agent Kelly Morgan - BRE#01898026
Listing Agent State License 01898026
MLS Area ENC - Encino
Source System CRMLS
Special Listing Conditions Standard
Total Units 28
Zoning LAR3

Interior Features

Heating Central
Heating Y/N Yes
Total Stories 2

Exterior Features

Lot Size Source Assessor
Number of Buildings 1
Parking Features Community Structure
Parking Y/N Yes

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 91316

Price
AVG $11.5M
$11.5M
Visits
AVG 297
728
Year Built
AVG 1978
1978
Walkscore
AVG 60
60
Data Provided by Walkscore ® not using MLS data