x
Address
5505 ZELZAH Avenue Encino, CA
Price
$ 12,000,000
Property Attributes
  • MLS#19445006
  • TypeIncome
  • CountyLOS ANGELES
  • CityEncino
  • AreaEncino
  • Zip91316
  • Style
  • Price$ 12,000,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage29536
  • Lot Size0.49 Acres
Listing Provided Courtesy Of:
Kelly Morgan with Keller Williams-Santa Monica.
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.

Price History
3/18/2019 Listed $12,000,000

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
Price Per Square Foot 406.28
Source System CRMLS
Special Listing Conditions Standard
Total Units 28
Zoning LAR3

Interior Features

Appliances None
Laundry Features None
Total Stories 2

Exterior Features

Building Area Total 29536.00
Lot Size Acres 0.4898
Lot Size Area 21335.0000
Lot Size Source Assessor
Lot Size Square Feet 21335.00
Lot Size Units Square Feet
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 $12M
$12M
Visits
AVG 192
483
Year Built
AVG 1978
1978
Walkscore
AVG 60
60
Data Provided by Walkscore ® not using MLS data

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