4525 Coldwater Canyon Ave
5 Unit Apartment Building $1,795,000 ($359,000/Unit) 4.33% Cap Rate Studio City, CA 91604
INVESTMENT HIGHLIGHTS
- Five units in a Prime Studio City location
- Front unit is a spacious 2 BR + 1 bath with a private front yard
- Gated secure parking that can easily be accessed through the back alley. Seismic retrofitting work for parking structure has been completed
- Desirable unit mix of (2) 2 BR + 1 Bath & (3) 1 BR+ 1 Bath Units with upside in the rents
- Large 6,498 SF lot - Zoned LAR3
- Potential to convert one of the rooms in the front house to a studio unit
EXECUTIVE SUMMARY
The Coldwater Canyon Residences are a five unit property located at 4525 Coldwater Ave in Studio City, Los Angeles. The property has a desirable unit mix of (2) 2BR + 1 Bath and (3) 1 BR + 1 Bath units. The front unit is a spacious 2 BR + 1 Bath unit that has a private front yard. Behind the front 2 BR + 1 Bath is a 1 BR + 1 bath unit. Towards the back of the property is a gated parking structure that has parking for four cars. Above the parking structure is the other 2 BR + 1 bath units and two of the 1 BR + 1 Bath units The total size of the property is approximately 4,078 SF and the size of the lot is, 6,498 SF with LAR3 Zoning. Some of the units have received tasteful renovations with hardwood floors, updated bathrooms and new kitchen appliances. The property generates a strong gross income of approximately $122,946 and has about 15% rental upside. The Coldwater Canyon Residences provide an excellent multi-family investment opportunity in one of the most highly sought after rental locations in all of Los Angeles and the San Fernando Valley.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS In Escrow
| Price | $1,795,000 |
| Price Per Unit | $359,000 |
| Sale Type | Investment |
| Cap Rate | 4.33% |
| Gross Rent Multiplier | 14.58 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,078 SF |
| No. Stories | 2 |
| Year Built | 1938 |
| Parking Ratio | 1.23/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | $1,769 | - |
| 2+2 | 2 | $2,451 | - |
Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 2362-006-017 | Total Assessment | $1,479,171 |
| Land Assessment | $1,227,714 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $251,457 | Tax Year | 2024 |
ZONING
| Zoning Code | LAR3 (Multifamily) |
