The LAAA Team of Marcus & Millichap is pleased to present 7061 Whitsett Ave, a 13-unit apartment property on the North Hollywood and Valley Glen border, held by the same ownership since 2000. Built in 1976, the two-story building wraps a pool courtyard on a 16,799 square foot R3-1 lot. Eleven units are two-bedroom, two-bath apartments of about 1,125 square feet and two are three-bedroom, two-baths of about 1,250, with gated, covered parking on the rear alley, an on-site laundry room and the pool.

The money here is in the rents. All 13 units are registered under the Los Angeles Rent Stabilization Ordinance, and a unit resets to market on a voluntary vacancy. Scheduled rent of $299,143 a year has about 41% upside at market rents of $2,695 for the two-bedrooms and $2,795 for the three-bedrooms, and the three units leased since November 2024 now pay $2,695, $2,595 and $2,395 a month.

The soft-story retrofit is complete, with a Certificate of Compliance issued in March 2021, the potable water was repiped in copper in 2015 and a roof replacement is under contract. The offering fits a private investor or 1031 exchange buyer who wants larger apartments, income in place and real room to grow the rents.