$1,995,000
This opportunity is an 8-unit multifamily investment opportunity located in a prime West Toluca Lake / North Hollywood neighborhood, one of the San Fernando Valley’s most desirable and supply-constrained rental markets. Built in 1962, the property consists of approximately 7,236 square feet of improvements situated on a 7,500 square foot LAR3-zoned parcel, offering both strong in-place income and future upside potential. The unit mix includes five one-bedroom units, two two-bedroom/two-bath units, and one spacious three-bedroom/two-bath unit, providing an attractive diversity of layouts that appeal to a wide tenant base. The building has been improved over time, featuring a roof replacement completed in 2024, upgraded copper plumbing, and completed Soft-Story seismic retrofit. In addition, the property is not subject to SB 721 balcony inspection requirements, reducing future capital expenditure concerns. A shared on-site laundry room provides additional tenant convenience and supplemental income potential. Offered for sale for the first time in more than 50 years, this generational asset presents a unique opportunity to acquire a well-located apartment building with strong fundamentals, operational simplicity, and long-term growth potential. The property is ideally positioned near the border of North Hollywood and Toluca Lake, two highly sought-after rental submarkets known for strong tenant demand, walkability, and proximity to major employment centers. The location benefits from convenient access to the NoHo Arts District, Universal Studios, Studio City, Burbank Media District, and major entertainment and production hubs that continue to drive housing demand. Residents enjoy close proximity to restaurants, cafes, retail amenities, and entertainment venues along Lankershim Boulevard and Riverside Drive, as well as easy access to the Metro Red Line, Hollywood Freeway (101), Ventura Freeway (134), and Interstate 5, providing seamless connectivity throughout Los Angeles. The surrounding area attracts professionals working in entertainment, media, healthcare, and technology sectors, supporting long-term rental stability and consistent occupancy levels. With ongoing neighborhood revitalization and continued investment throughout North Hollywood, the location remains one of the Valley’s most dynamic and growth-oriented multifamily markets.
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Listed by Reza Ghobadi with Reza Ghobadi (818) 325-4142
Property Type
Apartment
Status
Active
MLS Number
SR26050481
Year Built
1962
Lot Size
7,501 sq ft