Toluca Lake Living
8 Unit Apartment Building | $8,950,000 ($1,118,750/Unit) | 3.93% Cap Rate | North Hollywood, CA 91601
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $8,950,000
- Property Type
-
Multifamily
- Square Feet
- 12,640 SF
Listing Contacts
Abel Mehrabi
Verified Profile
Karl Markarian
Verified Profile
- Property Info
Property Overview
Karl Markarian & Abel Mehrabi of JohnHart Commercial are pleased to present Toluca Living Apartments, a well-maintained dual property portfolio situated at 5108 – 5112 Cahuenga Blvd, North Hollywood, Ca 91601. Each building comprises four (4) units, totaling eight (8) units. These properties are in the highly sought-after Toluca Woods District neighborhood of North Hollywood, California. Built in 2023, the properties are not subject to LA City Rent Control, only California State Rent Control.
The buildings feature a favorable unit mix consisting of: 8 units of 3 Bedrooms / 3 Bathrooms
Each unit includes central heat/air-conditioning, stainless steel appliances, quartz countertops, wood floors, oversized closets, and private balconies. Situated behind secure gated entrance. Equipped with subterranean parking and wheelchair lift. The total GLA of the two buildings is 12.640 square feet, situated on a 12.000 square feet land.
Property Overview: Toluca Living Apartments is located in the trendy Toluca Woods Neighborhood, one of the strongest rental submarkets in Southern California. The property boasts a WalkScore of 89 (Very Walkable), being close to grocery stores (Amazon Fresh - 0.3 miles away), hip cafes, gastropubs, restaurants, coffee shops, chic retail, and art galleries. Residents also enjoy excellent accessibility to employment centers in surrounding areas such as Burbank, Glendale, Sherman Oaks, and Encino.
The buildings feature a favorable unit mix consisting of: 8 units of 3 Bedrooms / 3 Bathrooms
Each unit includes central heat/air-conditioning, stainless steel appliances, quartz countertops, wood floors, oversized closets, and private balconies. Situated behind secure gated entrance. Equipped with subterranean parking and wheelchair lift. The total GLA of the two buildings is 12.640 square feet, situated on a 12.000 square feet land.
Property Overview: Toluca Living Apartments is located in the trendy Toluca Woods Neighborhood, one of the strongest rental submarkets in Southern California. The property boasts a WalkScore of 89 (Very Walkable), being close to grocery stores (Amazon Fresh - 0.3 miles away), hip cafes, gastropubs, restaurants, coffee shops, chic retail, and art galleries. Residents also enjoy excellent accessibility to employment centers in surrounding areas such as Burbank, Glendale, Sherman Oaks, and Encino.
Property Details
- Class
- B
- Year Built
- 2023
- Stories
- 3
- Lot Size (sq. ft)
- 12,197 SF
- Units
- 8
Highlights
- Newly Constructed, 2023 Built.
- Strong in place income. Central location. All brand new appliances. Spacious balconies.
- Open floor plan.
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