5020 Tujunga Ave North Hollywood, CA 91601-4242

Property Details for 5020 Tujunga Ave

Year built

1965

Construction

WOOD

Lot size

0.51 lot acres

Property size

17,690 SF

Zone code

LAR4

Property type

Apartment buildings

APN

2353-014-036

APU

2353014036

Description

This 40-unit apartment building, located at 5020 Tujunga Ave, Los Angeles, CA 91601, presents a compelling value-add opportunity in the vibrant NoHo Arts District. Built in 1965, the property encompasses 17,690 square feet on a 0.51-acre lot and features a mix of studio and one-bedroom units. Currently boasting a 5.85% cap rate and $458,991 NOI, significant upside potential exists due to rents being approximately 33% below market rate. A pro-forma analysis projects an 8.57% cap rate and $671,617 NOI upon achieving market rents. The property includes desirable amenities such as a pool, on-site laundry, ample parking, and a smoke-free environment. Its location offers convenient access to public transportation, major roadways, parks, and the thriving NoHo Arts District, enhancing tenant appeal. The property's affordability (all rents below 80% of Area Median Income) qualifies it for attractive financing options. The permitted zoning is LAR4. This property is a rare combination of strong value-add potential, desirable location, and attractive financing opportunities, making it an ideal investment for a savvy buyer. The building consists of 15 bachelor units, 24 studio units, and 1 one-bedroom unit. The property's walk score is 88.

Location Insight

City

North Hollywood

County

Los Angeles

State

California

Longitude

-118.379

Latitude

34.1614

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments