Building Details

Year Built 1986

Listing Agency: LA PREMIER REALTY

Listed By: DAVID NALBANDYAN

Source: Corcoran

Added: Jun 9, 2025 Changed: Mar 16 Last Checked: Mar 16 at 9:09AM

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Investment Insights

Based on property information with market context.

Located in the highly sought-after neighborhood of Toluca Lake, this well-maintained 18-unit apartment complex presents a multifamily investment opportunity. Constructed in 1986, the property is exempt from LA City Rent Control. The property is currently operating at a 5.12% CAP rate. Approved plans are in place for three Accessory Dwelling Units (ADUs), offering potential for increased cash flow and additional unit development. The ADUs repurpose underutilized storage and spa areas without impacting parking. All units have been fully renovated within the last 4 years. The property's location provides convenient access to dining, shopping, and entertainment options, as well as major freeways. Tenant-paid utilities contribute to low operating expenses for ownership.

Key Highlights

• Exempt from LA City Rent Control: Built in 1986, offering flexibility for rent growth.
• RTI‑Approved ADU Plans: Includes approved plans for 3 Accessory Dwelling Units, providing immediate upside potential.
• Prime Toluca Lake Location: Walkable to shops, dining, and entertainment.

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick Food Market Grocery & Convenience Store (Bike/Boat/Book/etc) Store Butcher Daycare Center Supermarket

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,887

Businesses Nearby

Explore this area Business Placement

Demographics for 91602, CA

19,647

Population

10,791

Households

1.8

Avg Household Size

39

Median Age

55%

College-Educated

96%

High-School Grad

2.0 sq mi

ZIP Area

9,824

Density / Sq Mi

$97,994

Median Household Income

$61,134

Median Earnings

$2,186

Median Rent

$1,104,400

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - 18-unit apartment complex in prime Toluca Lake location.

Where is this apartment building located?

The property is located at 4406 Cahuenga Boulevard Toluca Lake, CA.

What is the asking price?

The asking price for this property is $8,500,000.

What are key features of this property?

This property features: Exempt from LA City Rent Control: Built in 1986, offering flexibility for rent growth.; RTI‑Approved ADU Plans: Includes approved plans for 3 Accessory Dwelling Units, providing immediate upside potential.; Prime Toluca Lake Location: Walkable to shops, dining, and entertainment.