Sunbelt-Toluca Apartments | 4624 Cahuenga Blvd
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Sunbelt-Toluca Apartments 4624 Cahuenga Blvd
32 Unit Apartment Building $9,999,000 ($312,469/Unit) 4.79% Cap Rate Toluca Lake, CA 91602
INVESTMENT HIGHLIGHTS
- Prime Toluca Lake Location
- Attractive unit mix: 30 - 2 Bed/ 2 Bath & 2- 1 Bed/1 Bath
- Leasing Office, Pool, Courtyard, Gym, Subterranean & Open Parking
- Rare 32 unit apartment building in this area
- Spacious Floorplans with Central A/C & Heat
- Close Proximity to Universal Studios, Hollywood Hills, and Lakeside Golf Club
EXECUTIVE SUMMARY
We are proud to present this rare opportunity to own a 32-unit apartment building located in a prime Toluca Lake location. Built in 1968, the property is subject to LA City Rent Control. The building features an excellent unit mix with 30 two-bedroom, two-bath units and 2 one-bedroom, one-bath units. Each apartment offers spacious floorplans, central A/C & heat and attractive finishes to add to the desirability of the property.
The property offers residents attractive amenities such a pool, courtyard, gym, BBQ area, intercom access, on-site laundry facility and plenty of subterranean and open parking (66 Spaces total). Additionally, there is leasing office at the property which helps the owner, manager and tenants facilitate the best living and management experience possible.
In addition to the desirable features of the property, residents benefit from an excellent location that provides easy access to endless shopping, dining and entertainment options of Universal Studios, Universal City, and busy thoroughfare of Ventura Blvd.
This is a unique opportunity to acquire a very well-located asset with long term ownership and significant upside potential.
The property offers residents attractive amenities such a pool, courtyard, gym, BBQ area, intercom access, on-site laundry facility and plenty of subterranean and open parking (66 Spaces total). Additionally, there is leasing office at the property which helps the owner, manager and tenants facilitate the best living and management experience possible.
In addition to the desirable features of the property, residents benefit from an excellent location that provides easy access to endless shopping, dining and entertainment options of Universal Studios, Universal City, and busy thoroughfare of Ventura Blvd.
This is a unique opportunity to acquire a very well-located asset with long term ownership and significant upside potential.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$817,512
|
$22.80
|
| Other Income |
$3,600
|
$0.10
|
| Vacancy Loss |
$24,688
|
$0.69
|
| Effective Gross Income |
$796,424
|
$22.21
|
| Taxes |
$119,988
|
$3.35
|
| Operating Expenses |
$197,508
|
$5.51
|
| Total Expenses |
$317,496
|
$8.85
|
| Net Operating Income |
$478,928
|
$13.36
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $817,512 |
| Annual Per SF | $22.80 |
| Other Income | |
|---|---|
| Annual | $3,600 |
| Annual Per SF | $0.10 |
| Vacancy Loss | |
|---|---|
| Annual | $24,688 |
| Annual Per SF | $0.69 |
| Effective Gross Income | |
|---|---|
| Annual | $796,424 |
| Annual Per SF | $22.21 |
| Taxes | |
|---|---|
| Annual | $119,988 |
| Annual Per SF | $3.35 |
| Operating Expenses | |
|---|---|
| Annual | $197,508 |
| Annual Per SF | $5.51 |
| Total Expenses | |
|---|---|
| Annual | $317,496 |
| Annual Per SF | $8.85 |
| Net Operating Income | |
|---|---|
| Annual | $478,928 |
| Annual Per SF | $13.36 |
PROPERTY FACTS
| Price | $9,999,000 | Apartment Style | Low-Rise |
| Price Per Unit | $312,469 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.82 AC |
| Cap Rate | 4.79% | Building Size | 35,860 SF |
| Gross Rent Multiplier | 12.18 | Average Occupancy | 100% |
| No. Units | 32 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 0.89/1,000 SF |
| Price | $9,999,000 |
| Price Per Unit | $312,469 |
| Sale Type | Investment |
| Cap Rate | 4.79% |
| Gross Rent Multiplier | 12.18 |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.82 AC |
| Building Size | 35,860 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1968 |
| Parking Ratio | 0.89/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Sprinkler System
- Range
- Carpet
- Deck
- Garden
- Intercom
SITE AMENITIES
- Fitness Center
- Laundry Facilities
- Picnic Area
- Gated
- Grill
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $1,878 | 1 |
| 2+2 | 30 | $2,424 | 1 |
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PROPERTY TAXES
| Parcel Number | 2420-032-012 | Total Assessment | $6,167,750 |
| Land Assessment | $2,467,096 | Annual Taxes | $119,988 ($3.35/SF) |
| Improvements Assessment | $3,700,654 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
2420-032-012
Land Assessment
$2,467,096
Improvements Assessment
$3,700,654
Total Assessment
$6,167,750
Annual Taxes
$119,988 ($3.35/SF)
Tax Year
2024
ZONING
| Zoning Code | R4-1-R1-1, L.A. (Multiple Dwelling) |
| R4-1-R1-1, L.A. (Multiple Dwelling) |
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Sunbelt-Toluca Apartments | 4624 Cahuenga Blvd
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