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$ 8,500,000
Est. payment | /mo
0.3 Acres Lot
$ 8,500,000
Est. payment | /mo
0.3 Acres Lot
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID BB25112358
HOA Y/N No
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.
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
Fireplace Yes
Laundry Common Area
Exterior
Garage Spaces 18.0
Garage Description 18.0
Pool None
Community Features Curbs
Total Parking Spaces 18
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 3
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 2424002045
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by David Nalbandyan • LA Premier Realty • info@lapremierrealty.com