5505 Zelzah Ave Encino, CA 91316

$9,500,000 Sold Price as of 04/11/2018
  • -- Beds
  • -- Baths
  • 29,536 Sq.Ft.
Off Market
$9,500,000 Sold Price as of 04/11/2018 Refinance Your Mortgage

Map preview of 5505 Zelzah Ave, Encino, CA 91316

Property Overview: 5505 Zelzah Ave Encino, CA has -- bedrooms, -- bathrooms, 29,536 living square feet and 21,334 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

5505 Zelzah Ave is currently an off market home in the city of Encino. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Encino has a median list price of $1,999,000. The median price per/sqft for Encino is $748. With those numbers in mind, if you are looking to purchase a median priced home in Encino, CA and put 20% down you will need to save up $399,800 for the down payment and will need roughly $39,980 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Encino the commission could be as much as $65,000. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 5505 Zelzah Ave

Last sold for $9,500,000 on April 11th, 2018
  • June, 2022

  • Jun 24, 2022

    Date

    Expired

    CRMLS: SR22041486

    $12,000,000

    Price

  • Apr 20, 2022

    Date

    Active

    CRMLS: SR22041486

    $12,000,000

    Price

  • Listing provided courtesy of CRMLS

    Northmarq is pleased to offer for purchase 5505 Zelzah. The community is located in the highly sought-after Encino submarket of the San Fernando Valley. 5505 Zelzah has been expertly renovated and maintained by current ownership. The community consists of 29 apartment homes (27 existing units + 2 ADU’s currently under construction with certificate of occupancy expected by the end of March 2022). In January 2020, the state of California approved a law to expedite the process for owners of multifamily properties and single family homes to add additional units to their properties. Property owners can now quickly and legally convert existing non conforming spaces such as recreation rooms, storage rooms, fitness centers, and others to legal conforming units. At 5505 Zelzah, there are currently two spaces on the property that have been identified as spaces meeting the criteria for approved additional units. Current ownership has completed the approval process and permits are ready to be issued. Built in 1979, the property offers a strong unit mix of large floor plans consisting of (2) one-bed/one bath units, (15) one-bed/one bath units with den (1) two-bed/one bath unit, and (9) two-bed/two bath units. Renovated units offer stylish finishes, hardwood styled floors, granite or quartz counters, and stainless steel or black appliances. The additional conversion units will be a Single and a One Bedroom/One Bathroom. Resident amenities include a pool, on-site laundry, courtyard, covered parking, storage areas and controlled access entry door and gates. Located minutes drive from the 101 freeway and Ventura Boulevard, residents have quick access to the San Fernando Valley's premier commercial corridor and nearby employment centers. 5505 Zelzah residents, are walking distance to the numerous shopping, dining, entertainment and major employment centers of Encino and Tarzana and over 7,500,000 square feet of office space and 2,300,000 square feet of retail dominate Ventura Boulevard. Encino is a major business district for the healthcare and financial sectors, and is home to approximately 3,800 business employing over 27,000 people. Other nearby employment hubs include Warner Center, Universal City, North Hollywood, Burbank, and Hollywood.

  • February, 2021

  • Feb 20, 2021

    Date

    Expired

    CRMLS: 20664874

    $10,950,000

    Price

  • Nov 30, 2020

    Date

    Active

    CRMLS: 20664874

    $10,950,000

    Price

  • Listing provided courtesy of CRMLS

    Seller is currently in the process of legalizing 2 additional units through ADU conversion. This would add an additional 1+1 and Single. Please contact listing agent for more details

  • September, 2020

  • Sep 18, 2020

    Date

    Expired

    CRMLS: 20609818

    $10,950,000

    Price

  • Jul 27, 2020

    Date

    Active

    CRMLS: 20609818

    $10,950,000

    Price

  • Listing provided courtesy of CRMLS

  • July, 2020

  • Jul 21, 2020

    Date

    Expired

    CRMLS: 20575790

    $10,950,000

    Price

  • May 12, 2020

    Date

    Active

    CRMLS: 20575790

    $10,950,000

    Price

  • Listing provided courtesy of CRMLS

  • March, 2020

  • Mar 12, 2020

    Date

    Expired

    CRMLS: 19445006

    $11,500,000

    Price

  • Dec 20, 2019

    Date

    Price Change

    CRMLS: 19445006

    $11,500,000

    Price

  • Mar 18, 2019

    Date

    Active

    CRMLS: 19445006

    $12,000,000

    Price

  • Listing provided courtesy of CRMLS

    HUGE PRICE REDUCTION-27+1NC (rent capped-C of O dated 1979) Upgraded Units in Encino with a 4.4% Cap Rate. It is leased almost 100% as 2 Bedroom Units with Washer/Dryer hookups in every unit. (2+1 units are 1+1's with a den rented effectively as 2 BDR units). The property is being offered at a 4.4% Cap Rate and if you acquire the asset with a 5 year fixed loan available at 3.95% (i/o) Interest Only for the first 3 years the pre-tax cash flow would start at 5.01% . Recently a 2 Bedroom unit was leased above our market rents which proves that you could potentially achieve a 5.24% Cap Rate (with the loan fully amortized) just by increasing rents to market. Thus after you raise rents and switch to an Amortized loan you would have 4.55% Cash on Cash. This is an excellent return for a turn-key property that is in an A+ location with upgraded interiors.

  • April, 2018

  • Apr 11, 2018

    Date

    Sold (Public Records)

    Public Records

    $9,500,000

    Price

  • May, 2009

  • May 29, 2009

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 5505 Zelzah Ave

Assessed Value (2020): $9,894,845
Year Land Value Improved Value Assessed Value
2020 $4,369,680 $5,525,165 $9,894,845

About 5505 Zelzah Ave

Detailed summary of property

5505 Zelzah Ave is categorized with a use code of Apartment House (5+ Units) in Encino, CA 91316 and last sold on April 11, 2018 for $9,500,000. This property has -- bedrooms, -- bathrooms, roughly 29,536 living square feet, and sits on an approximately 21,334 square foot lot. Homes in Encino are selling for a median price of $1,300,000 and a median price per square foot of $652. Based on Ardent Real Estate Group's Encino Market Data, this home is sold 630.77% higher than the current median priced home. 5505 Zelzah Ave was last sold on April 11, 2018 for $9,500,000. Local nearby listings include 5460 White Oak Ave #B203, 5460 White Oak Ave #G324 and 5500 Lindley Ave #112. The average home in Encino, CA is selling in 57 days. There are currently 191 homes for sale in the Encino real estate market and 141 of them are single family homes while 43 of them are condos and 7 are townhomes. If you are the homeowner and looking to sell the home at 5505 Zelzah Ave Encino, CA 91316 contact Ardent Real Estate Group and we will put you in touch with one of our Encino agents.

Public Facts for 5505 Zelzah Ave

Public county record property details
Beds
--
Baths
--
Year built
1978
Sq. Ft.
29,536
Lot Size
21,334
Stories
--
Type
Apartment House (5+ Units)
Pool
Yes
Spa
No
County
Los Angeles
Lot#
1
APN
2162-009-014

The source for these homes facts are from public records.

91316 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,150,000
Median List Price/Sq.Ft.
$644
Median Sold Price
$828,000
Median Sold Price/Sq.Ft.
$534
Total Inventory
126
Median Sale to List Price %
106.29%
Avg Days on Market
17
Loan Type
Conventional (26.32%), FHA (0%), VA (0%), Cash (36.84%), Other (26.32%)

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Nearby Homes to 5505 Zelzah Ave

Data from public records.

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-- Beds | -- Baths | 37,213 Sq. Ft.
2 Beds | 1 Baths | 806 Sq. Ft.