4374 Troost Ave Los Angeles, CA 91604

Property Details for 4374 Troost Ave

Year built

2011

Property size

10,070 SF

Property type

Apartment buildings

Description

This exceptional Studio City multifamily investment opportunity presents a rare chance to acquire a meticulously maintained, six-unit apartment building boasting a compelling value-add potential. The property, located at 4374 Troost Ave, Los Angeles, CA 91604, comprises 10,070 square feet on a 6,652 square foot lot and features three stories. Built in 2011, the Class B building currently enjoys 100% occupancy, generating a current NOI of $186,235 and a 3.88% cap rate. However, a pro-forma analysis projects a significantly improved NOI of $249,101 and a 5.19% cap rate, reflecting substantial upside potential. Each of the six units, ranging from 1,500 to nearly 1,900 square feet, features two bedrooms, private elevator access, hardwood floors, marble accents, wet bars, fireplaces, designer lighting, gourmet kitchens with custom Italian cabinetry and Caesar stone counters, stainless steel appliances, in-unit laundry, and spacious primary suites with walk-in closets and master baths with dual vanities. Community amenities include controlled access, a rooftop deck, and secured subterranean parking for 15 vehicles. The property is zoned LAR3 and has a condo map, allowing for individual unit sales. Each unit has its own APN (2365-021-062, 2365-021-063, 2365-021-064, 2365-021-065, 2365-021-066, 2365-021-067). The asking price is $4,800,000 ($800,000 per unit and $476.66 per square foot). The property is not subject to RSO or AB1482. A Certificate of Occupancy was issued on March 8, 2012. This is a truly exceptional opportunity for discerning investors seeking strong returns in a prime Los Angeles location.