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1118 N Cahuenga Blvd 50 Unit Apartment Building $5,400,000 ($108,000/Unit) 5.25% Cap Rate Los Angeles, CA 90038
INVESTMENT HIGHLIGHTS
- 35% in rental upside.
- Prime location in Hollywood, walking distance to Hollywood walk of fame.
- Standing on a 17,000 square foot lot.
- First time on the market in 27 years.
- SRO/Studio mix
- 5.25% cap rate on actuals
EXECUTIVE SUMMARY
Leola Commercial is pleased to present a newly listed investment opportunity located in the heart of Hollywood. Offered for sale for the first time in 27 years, this unique asset comprises two contiguous parcels totaling approximately 17,000 square feet. The property consists of 50 units, primarily single-room occupancy units with shared bathroom facilities, along with four studio units. The total rentable living area is approximately 11,032 square feet. Currently operating at a 5.25% capitalization rate based on in-place income, the property offers significant value-add potential, with an estimated 34% rental upside available to a new owner. Please reach out to us if you have any questions.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$495,492
|
$41.29
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$14,865
|
$1.24
|
| Effective Gross Income |
$480,627
|
$40.05
|
| Taxes |
$67,500
|
$5.63
|
| Operating Expenses |
$129,500
|
$10.79
|
| Total Expenses |
$197,000
|
$16.42
|
| Net Operating Income |
$283,627
|
$23.64
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $495,492 |
| Annual Per SF | $41.29 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $14,865 |
| Annual Per SF | $1.24 |
| Effective Gross Income | |
|---|---|
| Annual | $480,627 |
| Annual Per SF | $40.05 |
| Taxes | |
|---|---|
| Annual | $67,500 |
| Annual Per SF | $5.63 |
| Operating Expenses | |
|---|---|
| Annual | $129,500 |
| Annual Per SF | $10.79 |
| Total Expenses | |
|---|---|
| Annual | $197,000 |
| Annual Per SF | $16.42 |
| Net Operating Income | |
|---|---|
| Annual | $283,627 |
| Annual Per SF | $23.64 |
PROPERTY FACTS
| Price | $5,400,000 | Apartment Style | Garden |
| Price Per Unit | $108,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.39 AC |
| Cap Rate | 5.25% | Building Size | 11,032 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 96% |
| Gross Rent Multiplier | 10.9 | No. Stories | 2 |
| No. Units | 50 | Year Built | 1922 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | LAR3 - Multiple dwelling units | ||
| Price | $5,400,000 |
| Price Per Unit | $108,000 |
| Sale Type | Investment |
| Cap Rate | 5.25% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 10.9 |
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.39 AC |
| Building Size | 11,032 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1922 |
| Opportunity Zone |
Yes |
| Zoning | LAR3 - Multiple dwelling units |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 4 | $1,029 | 450 |
1 1
Walk Score®
Walker's Paradise (96)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 5533-008-007 | Total Assessment | $1,058,633 |
| Land Assessment | $516,287 | Annual Taxes | $67,500 ($6.12/SF) |
| Improvements Assessment | $542,346 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
5533-008-007
Land Assessment
$516,287
Improvements Assessment
$542,346
Total Assessment
$1,058,633
Annual Taxes
$67,500 ($6.12/SF)
Tax Year
2025
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1118 N Cahuenga Blvd
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