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19 Units - North Hollywood - 5.4 CAP 6242-6248 Vineland Ave 19 Unit Apartment Building $7,182,088 CAD ($378,005 CAD/Unit) 5.61% Cap Rate North Hollywood, CA 91606
INVESTMENT HIGHLIGHTS
- Built in 1989 (exempt from LA City rent control)
- Gated and Access Controlled Building
- Newer Roof (2022)
- Close to all Public Transportation and Major Shopping
EXECUTIVE SUMMARY
IMPROVED PRICING VINELAND 19: This investment property, constructed in 1989 and exempt from LA City rent control, is presented at a 5.5 CAP rate and a 12.10 GRM, with potential for increased returns. Situated in the rapidly developing southeast region of North Hollywood, this gated and access controlled building offers convenient access to NoHo, Burbank, and Studio City, as well as nearby shopping, dining, and entertainment venues. The Transit Oriented Community (TOC) Tier 3 designation provides tenants with easy access to public transportation. This well-maintained asset represents a valuable addition to any portfolio, with recent upgrades including a new roof in-stalled in 2022. PLEASE NOTE: all one-bedroom units are spacious singles featuring a partition wall, giving the appearance of traditional one-bedroom layouts.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$616,932
|
$42.53
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$24,297
|
$1.67
|
| Effective Gross Income |
$592,635
|
$40.85
|
| Taxes |
$89,586
|
$6.18
|
| Operating Expenses |
$86,369
|
$5.95
|
| Total Expenses |
$175,955
|
$12.13
|
| Net Operating Income |
$416,680
|
$28.72
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $616,932 |
| Annual Per SF | $42.53 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $24,297 |
| Annual Per SF | $1.67 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $592,635 |
| Annual Per SF | $40.85 |
| Taxes (CAD) | |
|---|---|
| Annual | $89,586 |
| Annual Per SF | $6.18 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $86,369 |
| Annual Per SF | $5.95 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $175,955 |
| Annual Per SF | $12.13 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $416,680 |
| Annual Per SF | $28.72 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Storage Space
- Heating
- Sprinkler System
SITE AMENITIES
- Laundry Facilities
- Security System
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | $3,813 CAD | 500 |
| 1+1 | 14 | $37,298 CAD | 700 |
| 2+2 | 3 | $10,645 CAD | 950 |
1 1
Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 2414-001-036 | Total Assessment | $3,873,645 CAD (2025) |
| Land Assessment | $1,715,470 CAD (2025) | Annual Taxes | $89,586 CAD ($6.18 CAD/SF) |
| Improvements Assessment | $2,158,176 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
2414-001-036
Land Assessment
$1,715,470 CAD (2025)
Improvements Assessment
$2,158,176 CAD (2025)
Total Assessment
$3,873,645 CAD (2025)
Annual Taxes
$89,586 CAD ($6.18 CAD/SF)
Tax Year
2024
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19 Units - North Hollywood - 5.4 CAP | 6242-6248 Vineland Ave
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