1118 N Cahuenga Blvd 50 Unit Apartment Building $5,100,000 ($102,000/Unit) 5.90% Cap Rate Los Angeles, CA 90038

Leola Commercial is proud to present a rare multifamily investment opportunity located in the heart of Hollywood. Offered for sale for the first time in 27 years, this well-located asset sits on two contiguous parcels totaling approximately 17,000 square feet, providing scale, density, and long-term upside in one of Los Angeles’ most sought-after rental markets.
The property is a total of 50 units, consisting of 44 Single Room Occupancy (SRO) units, four studios, and two one-bedroom/one-bath units, with a total rentable living area of approximately 11,032 square feet. The SRO component is supported by eight shared bathrooms and four shared kitchens, offering an efficient operating layout. Notably, 16 of the 44 SRO units could be delivered vacant, creating immediate repositioning and income-growth potential.
Currently operating at a 5.9% capitalization rate based on in-place income, the property is fully occupied with all tenants current on rent. The asset presents a compelling value-add opportunity, with an estimated 34% rental upside through vacancy turnover and operational improvements. Upon stabilization, a new owner can achieve a projected 8.24% pro forma capitalization rate.
This offering represents a rare chance to acquire a sizeable, infrequently traded asset with both immediate and long-term upside in a core Hollywood location.