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7635 Lankershim Blvd 36 Unit Apartment Building $8,200,000 ($227,778/Unit) 5.88% Cap Rate North Hollywood, CA 91605
Investment Highlights
- Generational Asset: First sale since 1987.
- Retail Proximity: Nearby NoHo West retail center with shopping, dining, and entertainment options.
- Newer Construction: Constructed in 1986, offering relatively newer improvements compared to much of the surrounding housing stock.
- Efficient Unit Mix: 36-unit apartment community with an efficient (36) 1-bedroom / 1-bathroom unit mix.
- Solar Power System: Onsite solar power system generates energy to support a thermal water heating system with storage that services the property.
- Transit Access: Close proximity to North Hollywood Metro Station providing convenient regional transit access.
Executive Summary
Broker of Record
David Harrington
License # 02168060, 01320460 (CA)
Matthews Real Estate Investment Services, Inc
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245
(866) 889-0550
David Harrington
License # 02168060, 01320460 (CA)
Matthews Real Estate Investment Services, Inc
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245
(866) 889-0550
Property Facts
| Price | $8,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $227,778 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.60 AC |
| Cap Rate | 5.88% | Building Size | 23,236 SF |
| No. Units | 36 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1986 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $8,200,000 |
| Price Per Unit | $227,778 |
| Sale Type | Investment |
| Cap Rate | 5.88% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.60 AC |
| Building Size | 23,236 SF |
| No. Stories | 2 |
| Year Built | 1986 |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Window Coverings
Site Amenities
- Controlled Access
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 38 | - | 700 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2317-008-016 | Improvements Assessment | $2,467,871 |
| Land Assessment | $896,153 | Total Assessment | $3,364,024 |
Property Taxes
Parcel Number
2317-008-016
Land Assessment
$896,153
Improvements Assessment
$2,467,871
Total Assessment
$3,364,024
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7635 Lankershim Blvd
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