About this home

Welcome to "The Case V," a newly built 2025 townhome-style apartment property, fully leased and stabilized with $25,645 in monthly rental income. Located in the heart of the North Hollywood Arts District, adjacent to Toluca Lake, this turnkey investment was built with a Senate Bill 8 exemption and is exempt from Los Angeles rent control. The property features four units plus an ADU, totaling 9,127 square feet on a 7,000-square-foot lot, with nine on-site parking spaces. The spacious unit mix includes two 5-bedroom, 4-bathroom units; two 5-bedroom, 4.5-bathroom units; and one 3-bedroom, 3.5-bathroom ADU. Each residence offers an in-unit washer and dryer, hardwood floors, stainless steel appliances, recessed lighting, and high-end finishes.Offered at $3,695,000, "The Case V" delivers an approximate 6.57% cap rate based on in-place rental income, assuming 20% operating expenses and a 4% vacancy allowance. Developed by Thornton Development Group, the property combines thoughtful design, meticulous craftsmanship, and the convenience of new construction. Set on a quiet residential street surrounded by other newly built properties, 5651 Case Ave places residents moments from the dining, entertainment, and creative energy of the North Hollywood Arts District and neighboring Toluca Lake. SELLER OPEN TO NEGOTIATING A CONTRIBUTION TOWARD A BUYER'S INTEREST RATE BUY DOWN, SUBJECT TO AN ACCEPTABLE PURCHASE PRICE AND MUTUALLY AGREED TERMS. Contact the listing agent today to request the offering memorandum and learn more about the seller's contribution toward an interest rate buy down.

Facts and features

Schools

• East Valley Senior High School

  high · 9-12 · 0.2 mi

  3

• Oxnard Street Elementary School

  elementary · K-5 · 0.4 mi

  6

• Roy Romer Middle School

  middle · 6-8 · 1.8 mi

  5

• North Hollywood Christian Academy

  elementary · PK-8 · 0.6 mi

• Science Academy STEM Magnet

  middle · 6-12 · 0.2 mi

  10

• Maurice Sendak Elementary School

  elementary · K-5 · 0.5 mi

  8

Price history

• Oct 26, 2026 · Price Changed$3,595,000
• Oct 9, 2026 · Listing Removed—
• Oct 8, 2026 · Listed$3,695,000
• Aug 4, 2026 · Price Changed$3,795,000
• Jul 10, 2026 · Listed$3,995,000
• Jul 10, 2026 · Listing Removed—
• Feb 6, 2026 · Listed$3,995,000
• Feb 4, 2026 · Listing Removed—

Tax history

• 2025$18,398 tax · $1,555,398 assessed
• 2024$18,190 tax · $1,524,900 assessed
• 2023$14,647 tax · $1,200,000 assessed
• 2022$6,185 tax · $516,343 assessed
• 2021$6,103 tax · $506,220 assessed
• 2020$6,162 tax · $501,031 assessed
• 2019$5,919 tax · $491,208 assessed
• 2018$5,861 tax · $481,577 assessed

Home value

$3,560,900

• Cotality$3,560,900
• Collateral Analytics$3,757,000
• Quantarium$3,360,658

Where it is