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Listed by David Nalbandyan • LA Premier Realty
$ 8,500,000
Est. payment /mo
Active
4406 Cahuenga Boulevard Toluca Lake, CA 91602
15,868 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 15,868 sqft
Price per Sqft $535
MLS Listing ID BB-25112358
Year Built 1986
Lot Size 0.303 Acres
Property Sub-Type Apartment
Property Description
We are proud to present a rare and exceptional multifamily investment opportunity in the highly sought-after neighborhood of Toluca Lake--one of Los Angeles' premier rental submarkets. This well-maintained 18-unit apartment complex, built in 1986, is not subject to LA City Rent Control, providing investors with enhanced flexibility for rent growth and long-term value appreciation. Currently operating at a robust 5.12% CAP rate, the property also includes THREE RTI-APPROVED ADU plans, offering immediate upside potential through increased cash flow and additional unit development. Situated just steps from popular dining, shopping, and entertainment options--and with convenient access to major freeways--this property delivers on both location and performance, making it an outstanding opportunity for savvy investors. Investment Highlights: Year Built: 1986 - Exempt from LA City Rent Control Prime Toluca Lake Location - Walkable to shops, dining, and services Strong Unit Mix - All units fully renovated within the last 4 years Tenant-Paid Utilities - Low operating expenses for ownership Current CAP Rate: 5.12% ADU Upside: Approved plans in place for 3 Accessory Dwelling Units ADUs repurpose underutilized storage/spa areas (no impact to parking) Pro forma CAP Rate post-ADUs projected to exceed 6.0% This is a rare, stabilized asset with significant upside potential through the addition of ADUs--offering both immediate cash flow and long-term growth.
Location
State CA
County Los Angeles
Area Tul - Toluca Lake
Zoning LAR3
Interior
Cooling Central Air
Fireplaces Type Living Room
Laundry Common Area
Exterior
Parking Features Gated
Garage Spaces 18.0
Pool None
Community Features Curbs
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer