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Description
6853 and 6928 Agnes Avenue provide investors a great opportunity to acquire ownership of two separate 6-unit buildings located in a strong rental pocket of North Hollywood. Built in 2000 and 2004 the subject properties fall under statewide rent control which allows for 5% + CPI rental increases annually. Both properties have 30% upside in rental income. 6928 Agnes Avenue has had a vacant, non-conforming unit become a legal and conforming unit. 6853 Agnes Avenue currently has a non-conforming unit vacant which a new owner can covert to a legal and conforming unit. Both properties feature strong unit mixes, with open parking areas and laundry rooms. Unit 6 has rental covenant must be rented to tenant that falls under HUD Moderate Income 120% of AMI Must be purchased with 6853 Agnes Ave, available for sale only as a portfolio.
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