4453 Colfax Avenue, Studio City, CA 91602

About this property

Welcome to 4453 Colfax Ave, an exceptionally unique non-rent controlled new construction fourplex in Studio City. This gorgeous, easy-to-maintain fourplex is made up of two duplexes consisting of four, 4 bedroom, 4 bathroom units each. We project an exceptional cap rate of 5.2%, which is impossible to find in this A+ location as other apartment buildings in Studio City are selling at a 3.80% cap rate. There are multiple lease applications in hand, with the market rent nearby ranging from $5,700 to $6,500. The building is close to the new Shops at Sportman Lodge that features stores, shops, and restaurants including Erewhon, Equinox, and walkability to the nice restaurants and shops at Moorpark Tujunga Village. The units include a sleek modern kitchen with stainless steel appliances, high-quality finishes, balconies, inviting open floorplans, separate meters for gas, water & electric, low maintenance, and top desirability amongst renters for the location proximity to Universal Studios, over-the-hill to West Hollywood, Sherman Oaks and Toluca Lake. This is a trophy property in an amazing location that is an investor's dream, perfect for anyone with a 1031 EXCHANGE or anyone wanting an extraordinary fourplex in one of the best locations in all of Los Angeles with an amazing cap rate. The building is fully vacant and is ready to be leased immediately with all lease applications in hand or the buyer's choice of renters. Furthermore, there are some similar buildings close by that are renting fully furnished from $7,500 to $10,000 per month with an opportunity for more net income. Buyer is to verify all and do their own due diligence.

Listing description from the September 2022 sale, as reported to CRMLS.

Sale history

$3,665,000

Sold September 2022 · listed $3,999,000, on market May 2022 · MLS #22153639 · Source: CRMLS

Listing Agent: Daniel Lalezari · Listing Office: Keller Williams Hollywood Hills · Contact: 310-623-1300 · Bought with: James Abdelmalek · Keller Williams Palos Verdes

$1,080,000

Sold March 2020 · listed $1,150,000, orig. $1,019,000, on market November 2019 · MLS #19529292 · Source: CRMLS

Listing Agent: Casey Winchell · Listing Office: Kennedy Wilson Real Estate Sales & Marketing · Contact: 310-887-6446 · Bought with: Shannon Hayon · Kennedy Wilson Auction Group

$700,000

Sold March 2015 · listed $699,000, on market January 2015 · MLS #15821111 · Source: CRMLS

Listing Agent: Karen Medved · Listing Office: Keller Williams Studio City · Contact: 818-432-1500 · Bought with: Marina Shaw · Keller Williams Studio City

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