4636 Laurel Canyon Blvd Los Angeles, CA 91607

Property Details for 4636 Laurel Canyon Blvd

Year built

1963

Property size

33,792 SF

Property type

Apartment buildings

Description

This exceptional 44-unit apartment building, located at 4636 Laurel Canyon Blvd, Los Angeles, CA 91607, presents a compelling value-add investment opportunity. The property boasts 33,792 square feet on a 39,950 square foot lot, encompassing two two-story buildings constructed in 1963. The unit mix includes thirteen 1-bedroom/1-bathroom units and thirty 2-bedroom/1-bathroom units, along with one 2-bedroom/2-bathroom unit. All units feature wall unit air conditioners and individual gas and electric meters. Residents enjoy convenient amenities such as 44 parking spaces with private storage cabinets, two on-site laundry rooms, gated parking, and gated access. The property currently enjoys a 98% occupancy rate, generating a Net Operating Income (NOI) of $437,554, with a pro-forma NOI projected at $815,534, representing significant upside potential. The asking price is $9,100,000, translating to $206,818 per unit and $269.29 per square foot. The property is zoned LAR3 and benefits from its prime location in Valley Village, offering easy access to the 101 Freeway, public transportation, and the vibrant retail and commercial offerings of the nearby Silver Triangle on Ventura Boulevard. This presents a rare chance to acquire a well-situated multifamily asset with substantial room for value enhancement.