5841 Tujunga Avenue, North Hollywood, California 91601, North Hollywood, 91601 - bed, bath
ACTIVE$1,300,000
5841 Tujunga Avenue, North Hollywood, California 91601
0Bed
0Bath
2,890Sqft
7,554Lot
Year Built
1941
Close
-
List price
$1.3M
Original List price
$1.5M
Price/Sqft
$450
HOA
-
Days on market
-
Sold On
-
MLS number
IV25053813
Home ConditionPoor
Features
Good View:
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.30M(44th), sqft - 2890(44th), beds - undefined(50th), baths - undefined(50th).
Welcome to this incredible investment opportunity in North Hollywood, CA! This charming property boasts 4 units, making it an ideal income-producing asset. Situated in a prime location, this property is near all amenities including shopping, dining, entertainment, and transportation options. Whether you're looking to expand your real estate portfolio or simply looking for a great investment property, this is the perfect opportunity for you. Don't miss out on this chance to own a piece of North Hollywood real estate!
Condition Rating
Poor
Built in 1941, this property is over 80 years old. While one living room shows some minor updates like newer flooring and recessed lighting, the kitchen is significantly outdated with worn cabinets, old laminate countertops, and basic, older appliances. The presence of window AC units indicates a lack of central cooling, and the exposed water heater further points to outdated systems. The overall condition suggests substantial repairs and rehabilitation are needed to bring the units up to modern standards, aligning with the 'poor' category, especially given the explicit mention of 'outdated infrastructure' and 'deferred maintenance' in the property analysis.
Pros & Cons
Pros
Income-Producing Asset: The property features 4 units, making it an ideal income-generating asset for investors seeking consistent rental revenue.
Prime North Hollywood Location: Situated in a highly desirable area, the property offers excellent proximity to diverse amenities including shopping, dining, entertainment, and public transportation options.
Quadruplex Configuration: As a 4-unit property, it provides significant rental income potential and allows for portfolio diversification, reducing risk compared to single-unit investments.
Price Adjustment: The current list price of $1,300,000 is a notable reduction from the original list price of $1,500,000, potentially indicating a more competitive offering or motivated seller.
Investment Focus: The property is explicitly marketed as an 'incredible investment opportunity,' directly appealing to buyers looking to expand their real estate portfolio.
Cons
Age of Property: Built in 1941, the property is over 80 years old, suggesting potential for outdated infrastructure, deferred maintenance, and higher capital expenditures for system upgrades or renovations.
Unspecified Unit Condition: The description lacks specific details regarding the current condition or recent updates of the individual units, implying they may require significant renovation to maximize rental income and tenant appeal.
Lack of Amenity Details: Key amenities crucial for multi-unit properties, such as dedicated parking, laundry facilities, or common outdoor spaces, are not mentioned, which could impact tenant desirability and operational considerations.