5519 Klump Ave Multifamily Sells In North Hollywood For $1.5M At 3.17% CAP

A multifamily property located at 5519 Klump Ave in North Hollywood was recently sold. This property, which consists of 9 units, was on the market for the first time in over 30 years. The sale was facilitated by Yoni Salem and Jeff Louks from an undisclosed agency. The sale price for this property was $1,505,000, resulting in a 3.17% capitalization rate. The total square footage of the property is 5,188, with a price per square foot of $290.09. The price per unit is approximately $167,222.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,505,000
• Address: 5519 Klump Ave
• Market: North Hollywood
• Brokers: Yoni Salem - Jeff Louks
• Notes: First time on the market in over 30 years. Sold at a 3.17% cap rate.

This transaction provides a unique opportunity for the new owners to enter the North Hollywood multifamily market. With its long history on the market, the property attracted significant interest and was successfully sold by Yoni Salem and Jeff Louks, representing an undisclosed agency. The property's central location in North Hollywood adds to its appeal and potential for future growth in value.