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$8,500,000
Est. payment /mo
15,868 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 15,868 sqft
Price per Sqft $535
MLS Listing ID CRBB25112358
HOA Y/N No
Year Built 1986
Lot Size 0.303 Acres
Acres 0.3
Property Sub-Type Other
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
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Cooling Central Air
Fireplace No
Laundry Other
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 2424002045
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Listed by David Nalbandyan • LA Premier Realty