11156 Acama Street Los Angeles, CA 91602
13-Unit AB-1482 Property in Studio City
SOLD: $4,150,000 CAP RATE: 4.89% GRM: 12.50 PRICE PER SQUARE FOOT: $310
We are pleased to announce the sale of 11156 Acama Street a highly sought after multifamily asset located in an AAA+ Studio City pocket perfectly positioned between Toluca Lake and Valley Village. This rare value add opportunity offers more than 25% upside in market rents supported by exceptional long term demand and limited supply in this core submarket.
The property sold for $4,150,000 reflecting a 4.89% cap rate a 12.50 GRM and a $310 price per square foot. The building features an excellent unit mix including one two bedroom two and a half bathroom townhome unit eight two bedroom two bathroom units and four one bedroom one bathroom units. All units are separately metered for gas and electricity enhancing operational efficiency.
One of the standout features of this offering is the assumable financing available at a highly attractive 3.75% interest rate locked in for an additional five years providing significant savings and improved cash flow for the buyer. Built in 1988 and governed only by AB 1482 the property is not subject to LA City Rent Control allowing more flexible rent growth over time.
Located moments from premier shopping dining grocery and entertainment options the property benefits from a walkable and amenity rich environment that consistently attracts high quality tenants.
The buyer was represented by David Saghian.
Investment Highlights
• Value add opportunity offering more than 25% upside in market rents
• AAA+ Studio City location positioned between Toluca Lake and Valley Village with exceptional long term tenant demand
• Assumable financing at 3.75% fixed for an additional five years creating a strong acquisition advantage
• Excellent unit mix including one two bedroom two and a half bathroom townhome eight two bedroom two bathroom units and four one bedroom one bathroom units
• Built in 1988 and governed only by AB 1482 not subject to LA City Rent Control
• All units separately metered for gas and electricity supporting efficient operations
• Buyer represented by David Saghian
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com