NEW CONSTRUCTION GREEN CERTIFIED THREE UNIT IN NOHO ARTS DISTRICT! One of two matching developments (5756 Fulcher is the other) under construction with completion expected September 2017. $145,200 in gross scheduled rents bringing a 13.8 GRM and 5.3 Cap. Delivered vacant, not subject to rent control. This luxury three unit project offers a detached front house and a rear duplex with townhouse style units with private back yards, totaling 11 bedrooms and 8.5 bathrooms and individual private laundry rooms. The front house has an attached two car garage and the rear units each have two spaces. Each unit is separately metered for water, gas and electricity as well as a fourth common area electric and water meter for servicing exterior lighting and landscape irrigation. Landscape finishes include Ã¢â¿¬Ë¿LID' containers for rain runoff capturing, drought tolerant landscaping presenting the buyer with a low maintenance, environmentally friendly property. This property is situated in a prime and trendy North Hollywood neighborhood. It is in walking distance to the NoHo Arts District providing shopping, arts, entertainment, dining, and nightlife, as well as many local attractions. The area is also very bike friendly with continued development of trails throughout NoHo. New construction three unit projects such as this are a great find and when available lease at higher rates than competing older properties. Neighborhood rents are strong, bringing a 13.8 GRM and 5.3% Cap rate to the buyer.
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