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    5622 Willowcrest Ave Los Angeles, CA 91601

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    For Sale
    $2,495,000

    New, vacant fourplex in NoHo Arts District with high-end finishes.

    Building Details

    Year built
    2025

    We can help!

    Listing Contact
    Matthew Sullivan
    Matthew Sullivan
    Source: Lee-associates

    Listing Agency: Lee & Associates | Investment Services Group Listing Agent: Matthew Sullivan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    North Hollywood Luxury Fourplex

    The property at 5622 Willowcrest Avenue is a recently constructed, vacant fourplex located in North Hollywood, bordering the City of Burbank. The 5,095 square-foot multi-family property contains four units: three units with three bedrooms and two bathrooms each, and one unit with two bedrooms and two bathrooms. The buildings feature open floor plans, high ceilings, and spacious bedrooms. Each unit includes in-unit laundry hook-ups. The property is zoned RD1.5 and sits on a 6,760 square-foot lot. Onsite parking is available with 4 spaces. The property is located one block northwest from the corners of Burbank Boulevard and Cahuenga Boulevard, and is just minutes from the retail and restaurant amenities of the NoHo Arts District. The North Hollywood Metro Stop, located one mile away along Lankershim Boulevard, provides access to the B Line (Red) and G Line (Orange) station. The 134 and 170 Freeways are easily accessible. The property is located in the heart of the NoHo Arts District, near theaters, art galleries, and trendy eateries, as well as iconic studios like Universal Studios and Warner Bros. Studios. District NoHo, a new North Hollywood development, is coming soon to the neighborhood and will bring housing, office, and retail space. The design will include flexible open space with a performing arts pavilion intended to support small scale outdoor performances.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.372
    Latitude
    34.1679

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    FAQs

    What type of property is this?
    Quadplex - New, vacant fourplex in NoHo Arts District with high-end finishes.
    Where is this quadplex located?
    The property is located at 5622 Willowcrest Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $2,495,000.
    What are key features of this property?
    This property features: - New, vacant luxury fourplex (built in 2025) offering immediate rental income potential.; - Desirable North Hollywood location bordering Burbank and within the NoHo Arts District, close to amenities and studios.; - Unit mix of (3) 3-bedroom and (1) 2-bedroom units, all with 2 baths, spacious bedrooms, high ceilings, and in-unit laundry hook-ups.
    (213) 623-0800
    Request Owner's contact information
    5622 Willowcrest Ave Los Angeles, CA 91601
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    Los Angeles, CA 91601
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5622 Willowcrest Ave Los Angeles, CA 91601
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    We can help!
    Listing Contact
    Matthew Sullivan
    Matthew Sullivan
    Real Estate License ID: 00848427
    (213) 623-0800
    Learn more
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