Recently Built, Fully Leased Income Property, NO Lease-Up required | Non-RSO | No Rent Control. A rare find for investors who want proven year-over-year cash flow, not construction risk. 6926 Morella Avenue is a recently completed, 100%-leased 5-unit property generating $227,988 in current annual income, already stabilized from day one. Unlike a vacant new-construction building that may still require months of marketing, screening, and lease-up before stabilization, this property is cash-flowing now, with rents already within ~3% of market. Built for Minimal Landlord Involvement: Every unit is separately metered for utilities; tenants pay their own electric, gas, and water. Landlord responsibility is limited to property tax, insurance, and minimal gardening, made even lighter by pavers, concrete hardscape, and drought-tolerant landscaping throughout the nearly 8,000 SF lot. This is about as close to a hands-off operating expense structure as ground-up construction gets. Non-RSO, No Rent Control, SB 8 Exempt. As recently constructed housing, the property falls outside LA's Rent Stabilization Ordinance and carries no affordable-housing covenant restrictions, full rental rate freedom, with none of the entanglements that come with older buildings, covenant-encumbered affordable housing, or RSO-covered buildings. Three detached buildings, including one fully standalone unit, sit on an oversized ~8,000 SF lot with ample on-site parking, a genuine differentiator in an infill submarket where many comparable properties offer little or none. Units are townhouse-style with multiple private balconies and patios throughout. Ideal for 1031 exchange buyers who want documented, in-place income rather than a speculative lease-up; cost segregation buyers drawn to the high depreciable basis of new construction; and professionals and business owners who want a low-touch, low-opex asset in one of the San Fernando Valley's most in-demand rental submarkets, minutes from Universal Studios, Warner Bros., and the NoHo Arts District.

Last Updated	9/9/2026	Year Built	2021
Community	NHO - North Hollywood	County	Los Angeles

Additional Details

AIR	Central Air
AIR CONDITIONING	Yes
APPLIANCES	Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Vented Exhaust Fan, Washer, Washer/Dryer Stacked
AREA	NHO - North Hollywood
CONSTRUCTION	Stucco
GARAGE	Attached Garage, Yes
HEAT	Central
INTERIOR	Open Floorplan, Recessed Lighting
LOT	7906 sq ft
LOT DIMENSIONS	60x132
PARKING	Attached, Assigned, Covered, Electric Gate, Garage
POOL DESCRIPTION	None
STORIES	3+
STYLE	Modern
VIEW DESCRIPTION	None
WATER	Public

Location

 

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