5651 Case Avenue,North Hollywood, CA 91601
North Hollywood, CA 91601
Description
Welcome to "The Case V," a newly built 2025 townhome-style apartment property, fully leased and stabilized with $25,645 in monthly rental income. Located in the heart of the North Hollywood Arts District, adjacent to Toluca Lake, this turnkey investment was built with a Senate Bill 8 exemption and is exempt from Los Angeles rent control. The property features four units plus an ADU, totaling 9,127 square feet on a 7,000-square-foot lot, with nine on-site parking spaces. The spacious unit mix includes two 5-bedroom, 4-bathroom units; two 5-bedroom, 4.5-bathroom units; and one 3-bedroom, 3.5-bathroom ADU. Each residence offers an in-unit washer and dryer, hardwood floors, stainless steel appliances, recessed lighting, and high-end finishes.Offered at $3,695,000, "The Case V" delivers an approximate 6.4% cap rate based on in-place rental income, assuming 20% operating expenses and a 4% vacancy allowance. Developed by Thornton Development Group, the property combines thoughtful design, meticulous craftsmanship, and the convenience of new construction. Set on a quiet residential street surrounded by other newly built properties, 5651 Case Ave places residents moments from the dining, entertainment, and creative energy of the North Hollywood Arts District and neighboring Toluca Lake. SELLER OPEN TO NEGOTIATING A CONTRIBUTION TOWARD A BUYER'S INTEREST RATE BUY DOWN, SUBJECT TO AN ACCEPTABLE PURCHASE PRICE AND MUTUALLY AGREED TERMS. Contact the listing agent today to request the offering memorandum and learn more about the seller's contribution toward an interest rate buy down.
Details
| MLS # | 26998011 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 2025 |
| Days On Site | 15 |
| Listing Provided By | Hollywood Estates | Oliver Thornton |
Features
| Bed(s) | 23 |
|---|---|
| Bath(s) | 20 |
| SQ Feet | 9,127 |
| Car Port | Yes |
| Story(s) | 3 |
| Units | 5 |
| Building(s) | 2 |
| Zoning | LARD1.5 |
| Acreage | 0.16 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Appliances | Dishwasher, Microwave, Refrigerator, Dryer, Washer |
Parking
| Attached Garage Yes / No | Yes |
|---|---|
| Parking Features | Attached Carport, Carport, Driveway, Garage, Private, Tandem |
| Garage Yes / No | Yes |
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | North Hollywood |
| Zip Code | 91601 |
| Area | NHO North Hollywood |
| Listing VS Median (in 91601) | |
Price: $3,695,000 low | high Med: $494,500 sqft: 9,127 low | high Med: 873 $ / sqft: $405 low | high Med: $572 On site: 15 low | high Med: 87.5 | |
Market Activity 91601
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | North Hollywood |
| Zip Code | 91601 |
| Area | NHO North Hollywood |
| Listing VS Median (in 91601) | |
Price: $3,695,000 low | high Med: $494,500 sqft: 9,127 low | high Med: 873 $ / sqft: $405 low | high Med: $572 On site: 15 low | high Med: 87.5 | |
