5057 Cahuenga North Hollywood, CA 91601
4-Unit in North Hollywood
SOLD: $1,350,000 CAP RATE: 4.47% GRM: 13.24 PRICE PER SQUARE FOOT: $449
We are pleased to announce the sale of 5057 Cahuenga Blvd a charming and well maintained four unit multifamily property located in the heart of North Hollywood directly across from Toluca Woods. This prime asset sold for $1,350,000 reflecting a 4.47% cap rate a 13.24 GRM and a $449 price per square foot.
The property features an ideal unit mix consisting of two 2 bedroom 1 bathroom units and two 1 bedroom 1 bathroom units all positioned within one of the most desirable rental pockets of the Valley. Residents benefit from immediate proximity to Riverside Drive the main hub of Toluca Lake as well as Lankershim and Magnolia the heart of the NoHo Arts District. The location also offers convenient access to Tujunga Village Studio City Universal City Valley Village and Burbank making it highly attractive to long term tenants.
Situated in a strong rental market with consistent demand and limited small multifamily inventory this fourplex represents a solid long term investment opportunity. David Saghian represented both the buyer and the seller in this successful transaction.
Investment Highlights
• Prime NoHo location directly across from Toluca Woods and within walking distance to Riverside Drive and the NoHo Arts District
• Sold for $1,350,000 reflecting a 4.47% cap rate a 13.24 GRM and $449 per square foot
• Charming and well maintained fourplex with strong unit mix of two 2 bedroom 1 bathroom units and two 1 bedroom 1 bathroom units
• Situated in a highly desirable rental pocket near Toluca Lake Studio City Universal City Valley Village and Burbank
• Excellent long term investment in a supply constrained market with consistent tenant demand
• Buyer and seller represented by David Saghian
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com