Residential Income – 5505 Zelzah Ave, Encino, CA 91316, USA -001-11-30T00:00:00-08:00
HUGE PRICE REDUCTION-27 + 1NC (rent capped-C of O dated 1979) Upgraded Units in Encino with a 4.4% Cap Rate. It is leased almost 100% as 2 Bedroom Units with Washer / Dryer hookups in every unit. The property is being offered at a 4.4% Cap Rate and if you ac
5505 Zelzah Ave, Encino, CA 91316, USA
$11,500,000 USD
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Address5505 Zelzah Avenue, Encino
Price$11,500,000
Price Changed4.16% (-$500,000, 33 days ago)
Year Built1978
Bedrooms Total0
Listing ID19445006
StatusActive
Parcel Number2162009014
ZoningLAR3
Special ConditionsStandard
Days on Market342

Detailed Description: HUGE PRICE REDUCTION-27 + 1NC (rent capped-C of O dated 1979) Upgraded Units in Encino with a 4.4% Cap Rate. It is leased almost 100% as 2 Bedroom Units with Washer / Dryer hookups in every unit. The property is being offered at a 4.4% Cap Rate and if you acquire the asset with a 5 year fixed loan available at 3.95% (i / o) Interest Only for the first 3 years the pre-tax cash flow would start at 5.01%. Recently a 2 Bedroom unit was leased above our market rents which proves that you could potentially achieve a 5.24% Cap Rate (with the loan fully amortized) just by increasing rents to market. Thus after you raise rents and switch to an Amortized loan you would have 4.55% Cash on Cash. This is an excellent return for a turn-key property that is in an A + location with upgraded interiors.

Parking
Senior Community

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Address Information
Address5505 Zelzah Avenue, Encino
Street SuffixAvenue
CityEncino
Location (MLS Area)ENC – Encino
County Or ParishLos Angeles
State or ProvinceCA
Postal Code91316
Financial Information
Price Changed-4.1667%
Previous Price$12,000,000
Price per Lot Square Foot$
Special ConditionsStandard
Gross Operating Income$757,167
Gross Income$753,552
Net Operating Income$501,887
Gross Multiplier14.73%
Tax Year2000
Full Descriptions
Parcel Number2162009014
Detailed DescriptionHUGE PRICE REDUCTION-27 + 1NC (rent capped-C of O dated 1979) Upgraded Units in Encino with a 4.4% Cap Rate. It is leased almost 100% as 2 Bedroom Units with Washer / Dryer hookups in every unit. The property is being offered at a 4.4% Cap Rate and if you acquire the asset with a 5 year fixed loan available at 3.95% (i / o) Interest Only for the first 3 years the pre-tax cash flow would start at 5.01%. Recently a 2 Bedroom unit was leased above our market rents which proves that you could potentially achieve a 5.24% Cap Rate (with the loan fully amortized) just by increasing rents to market. Thus after you raise rents and switch to an Amortized loan you would have 4.55% Cash on Cash. This is an excellent return for a turn-key property that is in an A + location with upgraded interiors.
Heating DescriptionCentral
Parking FeaturesCommunity Structure
Property parameters
Year Built1978
Lot Size SourceAssessor
Number of Buildings1
Number of Units Total28
ZoningLAR3
Stories Total2
Units Total28
Listed withKelly Morgan (Keller Williams-Santa Monica)