5841 Tujunga Avenue, North Hollywood, California 91601, North Hollywood, 91601 - bed, bath
ACTIVE$1,150,000
5841 Tujunga Avenue, North Hollywood, California 91601
0Bed
0Bath
2,890Sqft
7,554Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Producing Asset: This 4-unit quadruplex is explicitly marketed as an 'ideal income-producing asset,' offering multiple rental streams for investors.
Top Cons:
Property Age: Built in 1941, the property is over 80 years old, which may imply a need for significant capital expenditures for system upgrades (e.g., plumbing, electrical, HVAC) and general modernization to meet current standards and tenant expectations.
Compared to the nearby listings
Price:$1.15M vs avg $1.65M ($-500,000)44%
Size:2,890 sqft vs avg 3,382 sqft44%
Price/sqft:$398 vs avg $46322%
More Insights
Built in 1941 (84 years old).
Condition: Built in 1941, this property is over 80 years old. While some living areas show cosmetic updates like laminate flooring and fresh paint, the kitchens and bathrooms are significantly dated and worn, appearing to be from a renovation 30-50 years ago or even older. Appliances are basic, cabinets and countertops show heavy wear, and tile work is outdated. The presence of wall-mounted AC units suggests older cooling systems. Given the age of the property and the condition of these critical areas, substantial repairs and rehabilitation, including major system upgrades, are likely required to bring the units to a modern, competitive standard.
Year Built
1941
Close
-
List price
$1.15M
Original List price
$1.25M
Price/Sqft
$398
HOA
-
Days on market
-
Sold On
-
MLS number
IV25145477
Home ConditionPoor
Features
View-
About this home
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 some living areas show cosmetic updates like laminate flooring and fresh paint, the kitchens and bathrooms are significantly dated and worn, appearing to be from a renovation 30-50 years ago or even older. Appliances are basic, cabinets and countertops show heavy wear, and tile work is outdated. The presence of wall-mounted AC units suggests older cooling systems. Given the age of the property and the condition of these critical areas, substantial repairs and rehabilitation, including major system upgrades, are likely required to bring the units to a modern, competitive standard.
Pros & Cons
Pros
Income-Producing Asset: This 4-unit quadruplex is explicitly marketed as an 'ideal income-producing asset,' offering multiple rental streams for investors.
Prime Location: Situated in a prime North Hollywood location, the property benefits from excellent proximity to shopping, dining, entertainment, and transportation options, enhancing tenant appeal.
Multi-Unit Investment: As a quadruplex, it provides diversified income potential and a stronger cash flow opportunity compared to single-unit properties.
Recent Price Adjustment: The property has seen a significant price reduction from its original list price of $1,250,000 to $1,150,000, potentially offering a more attractive entry point for buyers.
North Hollywood Market Demand: North Hollywood is a dynamic and growing area, suggesting a strong and consistent demand for rental properties, which bodes well for occupancy rates.
Cons
Property Age: Built in 1941, the property is over 80 years old, which may imply a need for significant capital expenditures for system upgrades (e.g., plumbing, electrical, HVAC) and general modernization to meet current standards and tenant expectations.
Lack of Financial Transparency: The listing description does not provide critical financial details such as current rental income, occupancy rates, or operating expenses, making it challenging for investors to accurately assess the property's immediate return on investment.
Potential for Deferred Maintenance/Renovation Costs: Given its age and the general description, there's an inherent risk of deferred maintenance or outdated interiors that could require substantial renovation to maximize rental value and attract premium tenants.