5122 Cahuenga Boulevard, Toluca Lake, CA 91601
Fourplex · 2 recorded sales since 2019
Sold December 2022
Listing Agent: Elizabeth Maddox (DRE #01921425) · Listing Office: The 2-4 Unit Specialists · Contact: 818-859-7242 · Bought with: Elizabeth Maddox · The 2-4 Unit Specialists · MLS #BB22205910 · Source: CRMLS
About this fourplex
5122 Cahuenga is a gorgeous and ENORMOUS 2018 fourplex in upscale Toluca Lake. This is one of a very small handful of new constructions located in the confines of actual “Toluca Lake”. This celebritystudded area has very minimal apartment inventory and as a result, very high demand. Situated walking distance from the many neighborhood destinations in Toluca Lake, North Hollywood and Burbank, this property has consistently drawn high quality tenants since its inception. The current occupants are extremely friendly, prompt in rent payment, and keep their units in prime condition. In addition to having an unbeatable location, 5122 Cahuenga offers countless other perks, including no rent control, a 4.52% current cap rate with significant upside (conservative pro forma cap rate of 4.80%), unbeatable floorplans, all appliances included (including washers/dryers), sleek finishes, separate meters for gas, water & electric, and extreme desirability amongst renters. This sleek, easy to manage fourplex is made up of one 3-story duplex containing two 3 bedroom/2.5 bathroom townhomes that come with private 2-car garages (a major bonus for renters) and one 2-story duplex containing two 3 bedroom/2.5 bathroom townhomes that each come with 2 partially covered spots accessed from a convenient back alley. With SB-8 in effect, less fourplexes are being built, making properties like this an even more rare and hot commodity. Between the dream Toluca Lake location and the amazing floorplans, this is the new construction you’ve been waiting for!
Listing description from the December 2022 sale, as reported to CRMLS.
Sale history
