5331 Cahuenga Blvd - Apartments FOR SALE


North Hollywood, CA 91601
$8,650,000 USD
818-640-4360
5331 Cahuenga Blvd, North Hollywood, CA for Sale
$8,650,000 USD
Apartments - FOR SALE
1/17
null | 5.31% Cap Rate

5331 Cahuenga Blvd
North Hollywood, CA 91601


HIGHLIGHTS

  • 30 units in excellent North Hollywood rental pocket
  • Upside in existing rents and property is subject to statewide rent control
  • Property features mirrored closets, tiled floors, gated parking, and onsite laundry
  • Tenants enjoy close proximity to the North Hollywood station, Chandler bike bath, and numerous restaurants
  • All common areas have been renovated
  • 13 units have been completely renovated

OVERVIEW

Equity Union Commercial is proud to represent this 30 unit apartment building in North Hollywood. The building was constructed in 1978. Its unit mix consists entirely of (30) 1+1 units. With a lot size of 27,286 square feet, the property has a total of 17,370 rentable square feet. North Hollywood offers many things to see and do, especially in its NoHo Arts District, which has been greatly expanding into a hip, pedestrian-friendly urban village. North Hollywood has historic shopping and interesting local restaurants and bars that make it a diverse, thriving neighborhood. It is home to many theatres, art galleries, cafes, music recording venues, and shops. Its residents have easy access of public transportation with the Metro rail stations and the North Hollywood Red Line and Orange line bus ways. They also have easy access to the 101, 170, and 134 freeways. North Hollywood is currently working on a $1 billion mixed-use development at Lankershim and Chandler; the project will re-develop 15.6 acres of commercial and residential space, including 562 residential units and three high-rise office towers. This, combined with an already thriving Arts District, makes North Hollywood a smart place to invest. The property is separately metered for gas and electricity.

FOR SALE DETAILS

PRICE

$8,650,000 USD

PRICE/SF

$498 USD /SF

# OF UNITS

30

PRICE/UNIT

$288,333

CAP RATE

5.31%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cahuenga NoHo

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

44

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,286 SF

ZONING

R4-1, Los Angeles

APN/PARCEL ID

2416-027-053,2416-027-054,2416-027-055,2416-027-056,2416-027-057

ASK ABOUT THIS PROPERTY

Cindy HillEquity Union Real EstateMore Info
818-640-4360

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Cindy HillEquity Union Real EstateMore Info
818-640-4360

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.