7-Unit Apartment
6613 Irvine Avenue, North Hollywood, CA 91606
For Sale
$1,950,000
The building offers five two-bedroom apartments and two three-bedroom apartments, with a remodeled two-bedroom unit.
Property Size6,430 SF
Price / SF$303.27
Days on Market13
Property Features for 6613 Irvine Avenue
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Amenities
Wood
1
true
9
false
2
14
Common Area
7976
0.1831
Driveway
Slab
6430
7
Building Details
Building Size
Year Built
Stories
Listing Agency:
The Agency
(818) 601-6101
Listed By:
Artin Hovsepian
Source:
Lmbenterprises
Added: Oct 29
Changed: Nov 6
Last Checked: Nov 9 at 3:05PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Agency
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Investment Insights
Based on property information with market context.
At 6613 Irvine Avenue in North Hollywood, this 7-unit apartment building contains 6,430 square feet. The unit mix includes five 2-bedroom/1-bath apartments and two 3-bedroom/2-bath apartments. One 2-bedroom unit has been remodeled, and units 2, 3, 6, and 7 have hardwood flooring. The property was built in 1961 and is zoned LARD1.5.
Capital work includes a new second-story walkway, repairs and improvements to second-floor railings, exterior paint, replacement of the sewer line beneath the property, and an upgraded water heater with a recirculation pump. Required retrofit compliance work has also been completed. The parcel measures 0.1831 acres, or 7,976 square feet.
Capital work includes a new second-story walkway, repairs and improvements to second-floor railings, exterior paint, replacement of the sewer line beneath the property, and an upgraded water heater with a recirculation pump. Required retrofit compliance work has also been completed. The parcel measures 0.1831 acres, or 7,976 square feet.
Key Highlights
- 7 apartments: five 2‑bedroom/1‑bath units and two 3‑bedroom/2‑bath units
- 6,430‑square‑foot building on a 0.1831‑acre parcel
- LARD1.5 zoning; built in 1961
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$103,464
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,069,280
$2.1M
Cap Rate 7%
$1,478,057
$1.5M
Cap Rate 9%
$1,149,600
$1.1M
Market Conditions
NOI Build-Up for 6,430 SF
Gross rent
$204.5K $31.80/SF
− Vacancy
−$16.4K −$2.54/SF
EGI
$188.1K $29.26/SF
− OpEx
−$84.7K −$13.17/SF
NOI
$103.5K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,069,280
Cap Rate 7%
$1,478,057
Cap Rate 9%
$1,149,600
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.29M – $1.72M
NOI $103,464 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.44M
$3.01M – $4.02M
NOI $240,982 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,686
Businesses Nearby
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Business Placement
Demographics for 91606, CA
43,955
Population
16,563
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
78%
High-School Grad
3.3 sq mi
ZIP Area
13,320
Density / Sq Mi
$66,884
Median Household Income
$36,497
Median Earnings
$1,744
Median Rent
$801,300
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in North Hollywood, CA
Properties on Market for Apartment buildings in North Hollywood
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The building offers five two-bedroom apartments and two three-bedroom apartments, with a remodeled two-bedroom unit.
Where is this apartment building located?
The property is located at 6613 Irvine Avenue North Hollywood, CA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 7 apartments: five 2‑bedroom/1‑bath units and two 3‑bedroom/2‑bath units; 6,430‑square‑foot building on a 0.1831‑acre parcel; LARD1.5 zoning; built in 1961
