$2,790,000
$2,895,000
3.6%For more information regarding the value of a property, please contact us for a free consultation.
12 Beds
12 Baths
5,851 Sqft Lot
SOLD DATE : 12/21/2022
Key Details
Sold Price $2,790,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID BB22205910
Sold Date 12/21/22
Bedrooms 12
HOA Y/N No
Lot Size 5,851 Sqft
Property Description
5122 Cahuenga is a gorgeous and ENORMOUS 2018 fourplex in upscale Toluca Lake. This is one of a very small handful of new constructions located in the confines of actual Toluca Lake. This celebritystudded area has very minimal apartment inventory and as a result, very high demand. Situated walking distance from the many neighborhood destinations in Toluca Lake, North Hollywood and Burbank, this property has consistently drawn high quality tenants since its inception. The current occupants are extremely friendly, prompt in rent payment, and keep their units in prime condition. In addition to having an unbeatable location, 5122 Cahuenga offers countless other perks, including no rent control, a 4.52% current cap rate with significant upside (conservative pro forma cap rate of 4.80%), unbeatable floorplans, all appliances included (including washers/dryers), sleek finishes, separate meters for gas, water & electric, and extreme desirability amongst renters. This sleek, easy to manage fourplex is made up of one 3-story duplex containing two 3 bedroom/2.5 bathroom townhomes that come with private 2-car garages (a major bonus for renters) and one 2-story duplex containing two 3 bedroom/2.5 bathroom townhomes that each come with 2 partially covered spots accessed from a convenient back alley. With SB-8 in effect, less fourplexes are being built, making properties like this an even more rare and hot commodity. Between the dream Toluca Lake location and the amazing floorplans, this is the new construction youve been waiting for!
5122 Cahuenga is a gorgeous and ENORMOUS 2018 fourplex in upscale Toluca Lake. This is one of a very small handful of new constructions located in the confines of actual Toluca Lake. This celebritystudded area has very minimal apartment inventory and as a result, very high demand. Situated walking distance from the many neighborhood destinations in Toluca Lake, North Hollywood and Burbank, this property has consistently drawn high quality tenants since its inception. The current occupants are extremely friendly, prompt in rent payment, and keep their units in prime condition. In addition to having an unbeatable location, 5122 Cahuenga offers countless other perks, including no rent control, a 4.52% current cap rate with significant upside (conservative pro forma cap rate of 4.80%), unbeatable floorplans, all appliances included (including washers/dryers), sleek finishes, separate meters for gas, water & electric, and extreme desirability amongst renters. This sleek, easy to manage fourplex is made up of one 3-story duplex containing two 3 bedroom/2.5 bathroom townhomes that come with private 2-car garages (a major bonus for renters) and one 2-story duplex containing two 3 bedroom/2.5 bathroom townhomes that each come with 2 partially covered spots accessed from a convenient back alley. With SB-8 in effect, less fourplexes are being built, making properties like this an even more rare and hot commodity. Between the dream Toluca Lake location and the amazing floorplans, this is the new construction youve been waiting for!
Location
State CA
County Los Angeles
Area North Hollywood (91601)
Zoning Assessor
Interior
Cooling Central Forced Air
Exterior
Garage Unit1:Assigned
Building
Lot Description Curbs, Sidewalks
Story 3
Lot Size Range 4000-7499 SF
Level or Stories 2 Story
Others
Monthly Total Fees $48
Space Rent $3,900
Financing Cash
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Bought with Elizabeth Maddox • The 2-4 Unit Specialists
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "