Description

We are pleased to present 7061 Whitsett Ave, a 13-unit apartment property on the North Hollywood and Valley Glen border. The two-story building was completed in 1976 and holds eleven 2BR/2BA and two 3BR/2BA units, 14,887 gross square feet on a 16,799 square foot R3-1 lot. Every unit has its own gated garage on the rear alley, and there is a pool. The property is registered under the Los Angeles Rent Stabilization Ordinance.

The investment case is rent upside on turnover and utility savings, with the major capital work already done. Scheduled rent of $299,119 grows to $422,820 at market, about 41% upside. The seismic retrofit was certified in 2021, the building was repiped in copper in 2015, and a new roof goes on this month.

This is the first time the property has been offered since the current ownership bought it in 2000. The three units turned since late 2024 average $2,562 a month. The offering fits valueadd operators and 1031 buyers.