The property has been under the same ownership for more than 30 years and current rents offer extensive room for growth. This creates a prime repositioning opportunity for a new owner to refresh apartment interiors and amenities to potentially recapture the 47% rent upside. The attractive asking price of only $155,827 per unit allows an investor to gain a sizeable foothold in the dense North Hollywood rental market at a relatively low price. In fact, only one property has sold at a lower price per unit in North Hollywood in the past year (Source: CoStar COMPS). The current owner has replaced all electrical subpanels throughout the building in 2026, which could help to reduce both insurance and utility costs substantially. A brand new water heater and storage tank were also installed in 2025, and all windows have been replaced and upgraded. The building does not appear on the Los Angeles Department of Building & Safety's Seismic Retrofit List, saving a new investor from an otherwise burdensome expense. The property offers a generous amount of on-site parking to tenants with 55 spaces, or 1.34 spaces per bedroom. The surplus of parking spaces helps provide additional income, as does the on-site laundry facility. Located near the intersection of Sherman Way and Coldwater Canyon Avenue, the property allows tenants convenient access to the Greater Los Angeles Metro Area via the nearby 170 Freeway. Residents also enjoy the building's proximity to several national retailers, including Trader Joe's, Home Depot, Ralphs, Vallarta Supermarkets, and Walgreens, all within three miles of the property.
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 6/25/26 1:52 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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