5618 Bakman Avenue, North Hollywood, California 91601, North Hollywood, 91601 - bed, bath
ACTIVE$3,380,000
5618 Bakman Avenue, North Hollywood, California 91601
0Bed
0Bath
6,772Sqft
6,525Lot
Year Built
2019
Close
-
List price
$3.38M
Original List price
$3.38M
Price/Sqft
$499
HOA
-
Days on market
-
Sold On
-
MLS number
WS25053240
Home ConditionExcellent
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $3.38M(78th), sqft - 6772(78th), beds - undefined(50th), baths - undefined(50th).
Condition Rating
Excellent
This property was built in 2019, making it a very recent construction. The images confirm its excellent condition, showcasing a modern exterior, brand-new interiors, contemporary kitchens with white shaker cabinets, stainless steel appliances, and modern countertops. Bathrooms appear equally updated with stylish finishes. The flooring, lighting, and overall aesthetic are consistent with a newly built property, indicating no deferred maintenance and meeting current quality standards.
Pros & Cons
Pros
New Construction: Built in 2019, the property benefits from modern construction standards, contemporary design, and potentially lower immediate maintenance costs, appealing to both tenants and investors.
Income-Generating Asset: As a quadruplex (Residential Income property), it offers significant potential for rental income and cash flow, making it an attractive investment opportunity.
Desirable Location: Situated in North Hollywood, the property is in a vibrant and growing area known for its arts district, entertainment industry proximity, and convenient access to amenities and transportation.
Substantial Square Footage: With 6772 sqft, the property offers generous living spaces across its units, which can attract a wider range of tenants seeking spacious accommodations.
Strong Investment Potential: Combining new construction, income-generating capabilities, and a prime location, this property presents robust potential for both rental yield and long-term capital appreciation.
Cons
High Entry Price Point: The list price of $3.38 million represents a substantial capital investment, which may limit the pool of potential buyers to high-net-worth individuals or institutional investors.
Limited Outdoor Space: With a building square footage (6772 sqft) exceeding the lot size (6525 sqft), it suggests a high building-to-lot ratio, likely resulting in minimal private outdoor space for tenants, which can be a drawback in urban environments.
Niche Market Appeal: While an income property, a quadruplex specifically targets a particular segment of investors, which might lead to a longer marketing period compared to more common property types like single-family homes or larger apartment complexes.