5108 Cahuenga Blvd Los Angeles, CA 91601

Property Details for 5108 Cahuenga Blvd

Year built

2023

Property size

12,640 SF

Property type

Apartment buildings

Description

This exceptional 8-unit multifamily investment opportunity, located at 5108-5112 Cahuenga Blvd, Los Angeles, CA 91601, presents a compelling proposition for discerning investors. Comprising two, two-story buildings, each with four units, this Class A property boasts a total of 12,640 square feet on a 12,000 square foot lot. Built in 2023, the property features a desirable unit mix of eight 3-bedroom, 3-bathroom units, each equipped with modern amenities including central heating and air conditioning, stainless steel appliances, quartz countertops, wood flooring, oversized closets, and private balconies. Security features include a gated entrance, subterranean parking, and a wheelchair lift. Currently operating at 100% occupancy, the property generates a strong NOI of $352,031, with a pro-forma NOI of $376,031, resulting in a 3.93% cap rate and a pro-forma cap rate of 4.20%. The asking price is $8,950,000, translating to $1,118,750 per unit and $708.07 per square foot. Situated in the highly desirable Toluca Woods neighborhood, this property benefits from a WalkScore of 89, offering convenient access to numerous amenities, including grocery stores, cafes, restaurants, and retail options. Its prime location also provides excellent access to major freeways (101, 134, and 170) and public transportation (0.8 miles from the Metro Red Line/Orange Line North Hollywood Station). The property is zoned RD1.5 and is offered fee simple. This is a truly remarkable opportunity to acquire a high-performing, stabilized multifamily asset in a thriving Los Angeles submarket.