4-Unit Value-Add Built in 2002
LIST PRICE: $1,895,000 CAP RATE: 4.26% GRM: 14.70 PRICE PER SQUARE FOOT: $424
A well-maintained four-unit apartment building in Studio City, built in 2002 and offering approximately 4,469 square feet of building area. Each unit features a spacious two-bedroom, two-bathroom layout of approximately 1,125 square feet, with well-designed floor plans that appeal to tenants and are easy to manage.
Current scheduled rents total approximately $10,745 per month, or $128,940 annually, while the analysis estimates market rents of approximately $13,000 per month, or $156,000 annually—about 21% rental upside. Recent improvements include new HVAC and remodeled Units 2 and 4. Upstairs units feature balconies, while the ground-floor units offer patios or garden areas. The property is not subject to the Los Angeles City RSO and is subject to California’s AB 1482.
Located in Studio City south of the 101, the property offers convenient access to neighborhood shopping, dining, and everyday services. Residents are also minutes from The Shops at Sportsmen’s Lodge, with its mix of retail, restaurants, and lifestyle amenities. The setting combines a residential neighborhood feel with convenient access to Studio City’s shops and services. Spacious units and nearby amenities contribute to the property’s appeal for renters.
Investment Highlights
Well-maintained 4-unit building. Easy to manage, and great for owner-user
Built in 2002, it's not subject to LA City RS
All large two bedroom / two bathroom units
Large, well-designed floor plans offering strong tenant appeal
Good inplace income with approximately 21% upside in rents
Good Studio City location; south of the 101
Recently completed building upgrades like new HVAC & remodeled 2/4 units
Upstairs units have balconies, and the bottom units have patio/garden
Steps from top retail, dining, and lifestyle amenities
Minutes to The Shops at Sportsmen's Lodge in Studio City
Exclusively Listed By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com