Highlights
• 39-Unit Apartment Complex in Prime Toluca Lake • The asset presents significant upside potential through rental increases • The property is currently encumbered by a fixed-rate loan of approximately $5,300,000 at 4.315%, with the rate secured through October 2027
Description
Well-Appointed 1988-Built Multifamily Asset in Desirable Toluca Lake Constructed in 1988, this 39-unit property offers an attractive unit mix comprising 10 one-bedroom/one-bath units, 12 one-bedroom/two-bath units, 3 two-bedroom/one-bath units, and 14 two-bedroom/two-bath units. The building spans a total of 38,043 rentable square feet on a 7,798-square-foot lot. There is significant rental upside, and the existing leasing office—currently unused—features 672 square feet and has potential for conversion into an additional dwelling unit (ADU). The property boasts a variety of tenant-friendly amenities, including fireplaces, private balconies, secured parking, central HVAC, a fitness center, BBQ area, and a swimming pool. All third-floor units include loft spaces. There are currently 12 vacant units, all in rent-ready condition, offering a new owner the opportunity to implement full interior renovations and maximize value. Located in the serene and charming neighborhood of Toluca Lake—situated between North Hollywood and Burbank—the area is known for its tree-lined streets and inviting community feel. Residents enjoy a vibrant local scene with a mix of stylish cocktail lounges, sushi spots, cozy cafes, and diners. The property also benefits from excellent connectivity, with easy access to the 134, 101, and 170 freeways.
Listing Details
- Cap Rate
4.76%
- Space Type
Multifamily
- Sub Category
Apartments Building
- Sale Type
Investment Sale
- Date Listed
6/9/2025
- Parking Info
2.08/1,000 SF
Property Specifics
- Property Name
4651 Cahuenga Blvd
- Property Class
C
- No of Buildings
1
- No of Stories
4
- No of Units
39
- Year Built
1988
- Building Size
38,043 SF
- Lot Size
0.36 Ac
- APN
Multiple
- Zoning
R4-1, Los Angeles