6344 Denny Ave is a 10-unit building located in the mid-town North Hollywood neighborhood, near the North Hollywood and Burbank border. Built in 2003, the 10,455 sq ft building sits on a 9,394 sq ft lot, and is comprised of ten (10) 2 bedroom, 2 1⁄2 bathroom townhome style units. The property offers 20 tandem parking spots in a secured ground level garage. Each unit is equipped with central HVAC, balconies, washer/dryer hookups, and hardwood floors. The apartments are separately metered for gas and electricity and have individual water heaters.
With a walkscore of 70, tenants are within walking distance to a CVS, Target, Starbucks and numerous neighborhood restaurants. Conveniently located near highways 5, 170 and 134, tenants can quickly access all that Los Angeles metro has to offer.
Median home sales prices in the area have increased over 30% since May 2014, making it more difficult for home ownership and ensuring a continued strong rental market. With rent increases seeing a comparable uptick over the same time period and vacancy rates at near all-time lows, multifamily appreciation has seen a similar trend in value. This is an opportunity to own a property in a high demand rental market with tremendous growth potential.