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Key Details
Sold Price $1,300,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID BB21237641
Sold Date 12/22/21
Bedrooms 4
HOA Y/N No
Lot Size 7,427 Sqft
Property Description
5617 Denny is a fully renovated, designer 3 bedroom, 2 bathroom single family home + 1 bedroom/1 bathroom ADU + non-conforming bachelor unit (converted rec room) with a pool and lovely patio! This property will be delivered vacant and offers buyers an unlimited supply of unbeatable options: 1) Rent out the whole property and earn a projected income of $7,150 per month. The current owner has consistently earned over $6,700 a month on 5617 Denny, even during Covid-19. Applications have always come pouring in at the time of any vacancy. Our projected rents are very conservative for the 1b/1b and bachelor and we expect these numbers to likely be surpassed. There is a major lack of inventory of well-priced ADUs and guest houses with pools, which has led to extreme demand. At a pro forma cap rate OVER 5%, this is your chance to buy a true cash cow! 2) Enjoy this resort-like property as a family compound! Both the ADU and converted rec room are adorable free-standing cottages situated around a large pool. Whether you set up the rec room as an office, game room, pool house, or bedroom, you cant go wrong. The 1b/1b ADU is a dream come true for grandparents, house guests, grown children, etc. 3) Best of all, live in the upscale front home while having tenants (in detached units) cover the mortgage. The best of both worlds! From the gorgeous finishes and stainless steel appliances to the outstanding location moments from the NoHo Arts District and Toluca Woods, this is a deal you dont want to miss!
5617 Denny is a fully renovated, designer 3 bedroom, 2 bathroom single family home + 1 bedroom/1 bathroom ADU + non-conforming bachelor unit (converted rec room) with a pool and lovely patio! This property will be delivered vacant and offers buyers an unlimited supply of unbeatable options: 1) Rent out the whole property and earn a projected income of $7,150 per month. The current owner has consistently earned over $6,700 a month on 5617 Denny, even during Covid-19. Applications have always come pouring in at the time of any vacancy. Our projected rents are very conservative for the 1b/1b and bachelor and we expect these numbers to likely be surpassed. There is a major lack of inventory of well-priced ADUs and guest houses with pools, which has led to extreme demand. At a pro forma cap rate OVER 5%, this is your chance to buy a true cash cow! 2) Enjoy this resort-like property as a family compound! Both the ADU and converted rec room are adorable free-standing cottages situated around a large pool. Whether you set up the rec room as an office, game room, pool house, or bedroom, you cant go wrong. The 1b/1b ADU is a dream come true for grandparents, house guests, grown children, etc. 3) Best of all, live in the upscale front home while having tenants (in detached units) cover the mortgage. The best of both worlds! From the gorgeous finishes and stainless steel appliances to the outstanding location moments from the NoHo Arts District and Toluca Woods, this is a deal you dont want to miss!
Location
State CA
County Los Angeles
Area North Hollywood (91601)
Zoning Assessor
Interior
Cooling Central Forced Air
Exterior
Pool Below Ground, Private
Building
Lot Description Curbs, Sidewalks
Story 1
Lot Size Range 4000-7499 SF
Level or Stories 1 Story
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Kobe Zimmerman
Berkshire Hathaway Home Services California Properties
kobezimmerman@bhhscalifornia.com +1(858) 753-3353Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Chris Sidlow • eHomes