6935 Morella Avenue, North Hollywood, California 91605, North Hollywood, 91605 - bed, bath
ACTIVE$1,250,000
6935 Morella Avenue, North Hollywood, California 91605
0Bed
0Bath
2,603Sqft
7,905Lot
Year Built
1932
Close
-
List price
$1.25M
Original List price
$1.25M
Price/Sqft
$480
HOA
-
Days on market
-
Sold On
-
MLS number
SR25023519
Home ConditionFair
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.25M(67th), sqft - 2603(67th), beds - undefined(50th), baths - undefined(50th).
This fantastic triplex in North Hollywood features three distinct units. The front unit, built in 2006, includes 3 bedrooms, 2 baths, and central air & heat. The second unit offers 2 bedrooms, 2 baths baths, also built in 2006 with private driveway. The third unit is a cozy 2-bedrooms, 1-bath space. Each unit has its own electrical and gas meter. The property also boasts a spacious private driveway.
Condition Rating
Fair
The property is a triplex with two units built in 2006 and one original unit from 1932. The visible images, likely from the 2006 units, show kitchens and bathrooms that are functional and clean but feature outdated styles, including white appliances, basic laminate countertops, light wood cabinets, fluorescent/strip lighting, and basic flooring. While move-in ready, these units show clear signs of being outdated and would benefit from minor cosmetic updates. The condition of the 1932 unit is not shown, but it is likely similarly or more dated, pulling the overall property condition towards 'Fair' rather than 'Good'.
Pros & Cons
Pros
Multi-Unit Income Potential: As a triplex, the property offers diversified rental income streams, making it an attractive investment for generating consistent cash flow.
Modernized Units: Two of the three units were built in 2006, providing newer construction, potentially better insulation, and more modern layouts and amenities compared to older properties.
Independent Utilities: Each unit having its own electrical and gas meter simplifies tenant billing and management, reducing landlord overhead and promoting fair utility usage.
Desirable Unit Amenities: The front unit includes central air & heat, and the second unit benefits from a private driveway, enhancing tenant comfort and appeal for these specific units.
Ample Parking: The property boasts a spacious private driveway, a significant and valuable asset in a dense urban environment like North Hollywood, providing convenience for tenants.
Cons
Age of Original Unit: The third unit, part of the original 1932 structure, is significantly older than the other two, potentially requiring substantial updates, repairs, or higher maintenance costs.
Inconsistent Unit Amenities: Only the front unit explicitly mentions central air & heat, suggesting the other units, especially the oldest one, may lack modern climate control, which can be a drawback in North Hollywood's climate.
Varied Tenant Appeal: The considerable age and amenity differences between the units (1932 vs. 2006 builds) could lead to challenges in attracting and retaining tenants for the older unit at comparable rental rates.