24 Units | 6.44% Cap Rate | 9.53 GRM 6944-6954 Coldwater Canyon Ave 24 Unit Apartment Building $4,895,000 ($203,958/Unit) 6.44% Cap Rate North Hollywood, CA 91605

Lucrum Real Estate Group is pleased to present Canyon Glen Apartments, a 24-unit multifamily investment opportunity located at 6944–6954 Coldwater Canyon Avenue in Valley Glen, California. The property consists of three separately parceled, two-story apartment buildings constructed between 1959 and 1960, totaling approximately ±14,908 square feet on a combined ±28,089-square-foot LARD2-zoned site.
The unit mix consists of (23) one-bedroom + one-bathroom units and (1) two-bedroom + one-bathroom unit. This configuration serves a broad renter base and supports efficient management across the three-building community. The property has maintained approximately 98% average occupancy, reflecting stable in-place demand.
Canyon Glen Apartments features a gated residential setting with (25) secured parking spaces, landscaped grounds, on-site laundry facilities, and a swimming pool. The three-building layout creates a low-density, garden-style environment with the possibility to construct several ADU’s (Buyer to verify).
The property generates supplemental income from laundry, parking, RUBS, additional rent, and other income sources. Electricity is individually metered, while water and gas are master metered. These existing ancillary revenue streams provide a diversified income profile beyond base apartment rents.
Each building is located on its own individual parcel, creating an uncommon ownership configuration that may provide long-term operational and disposition flexibility. The combined site and three-APN structure may also present future value-creation opportunities, subject to independent verification of zoning, site constraints, parking requirements, and governmental approvals.
Canyon Glen Apartments offers investors the opportunity to acquire a well-occupied, income-producing multifamily asset with a highly rentable unit mix, multiple revenue sources, gated parking, and a substantial land position within the Valley Glen submarket.
Canyon Glen Apartments is located in Valley Glen, one of the San Fernando Valley's most desirable residential communities, offering investors a compelling combination of stable tenant demand, central location, and long-term growth potential. Situated between North Hollywood, Sherman Oaks, Studio City, and Van Nuys, the neighborhood provides convenient access to many of the Valley's largest employment centers while maintaining a quieter, suburban character. Its strategic location, combined with relatively attainable housing compared to neighboring submarkets, has made Valley Glen an increasingly attractive destination for renters seeking value without sacrificing accessibility.
The neighborhood benefits from exceptional transportation connectivity. Residents enjoy convenient access to the Hollywood (SR-170), Ventura (US-101), and Hollywood (US-101) Freeways, providing efficient commutes to Downtown Los Angeles, Hollywood, Burbank, Universal City, and the Westside. Public transportation options, including Metro bus routes and nearby Metro B (Red) Line stations in North Hollywood, further enhance mobility throughout the region. This accessibility broadens the property's tenant pool by appealing to professionals employed across multiple employment hubs.
Valley Glen also offers an attractive lifestyle supported by an expanding collection of retail, dining, and entertainment amenities. Residents are just minutes from popular destinations such as NoHo West, the NoHo Arts District, Westfield Fashion Square, Sherman Oaks Galleria, and Universal Studios Hollywood. The neighborhood is home to numerous parks, schools, and community amenities, while nearby institutions, such as Los Angeles Valley College, contribute to steady housing demand among students, faculty, and staff. These amenities create a balanced live-work-play environment that continues to attract a diverse renter demographic.
For multifamily investors, Valley Glen represents an established market with strong long-term fundamentals. Continued public and private investment throughout the surrounding North Hollywood and Universal City corridors, ongoing residential redevelopment, and sustained demand for well-located rental housing support the neighborhood's outlook. With limited opportunities to develop new multifamily housing in many established neighborhoods, existing apartment properties in Valley Glen remain well-positioned to benefit from long-term appreciation, resilient occupancy, and stable cash flow, making the area an attractive choice for both private and institutional investors.


Location Highlights
+ Prime Valley location with convenient access to Studio City, Sherman Oaks, North Hollywood, Burbank, and Universal City
+ Minutes from Ventura Boulevard's premier dining, cafés, boutique shopping, and entertainment
+ Close to the Metro B (Red) Line and North Hollywood Transit Station with direct service to Universal City, Hollywood, and Downtown Los Angeles
+ Surrounded by major employers including Universal Studios, Warner Bros., Walt Disney Studios, NBCUniversal, and Providence Saint Joseph Medical Center
+ Minutes from Los Angeles Valley College, supporting consistent rental demand from students, faculty, and staff
+ Convenient access to Sherman Oaks Galleria, Westfield Fashion Square, Costco, Target, Whole Foods, Ralphs, and Trader Joe's