Listed by Matthews, Marcus & Millichap - Encino
$8,995,000
Las Casitas
Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 32,150
Units 44
Cap Rate 5.73%
Price per SqFt $280
Year Built 1974
Acreage 0.430
Multifamily | 44 Units | $204,432/unit
Investment highlights
- Townhouse & Loft Residences: 44-unit community featuring exclusively townhouse and loft-style residences.
- First time on the market in decades
- Diverse Unit Mix: Diverse unit mix appeals to young professionals, couples, and small families.
- Individually Metered Utilities: Individually metered for gas and electricity, which helps control operating expenses.
- Ample Parking & Amenities: 60 on-site parking spaces plus laundry and trash chutes support located on each floor.
- Prime NoHo Location: Prime North Hollywood location near retail, dining, transit, and the NoHo Arts District.
- Stable Cash Flow: Well-maintained asset positioned for stable cash flow and future rent growth.
- Efficient Utility Configuration: Efficient utility configuration with individual metering for gas and electricity and master-metered water.
- Strong Parking Ratio: Strong parking ratio and individual utility metering reduce owner expense exposure.
- Value-Add Potential: Potential upside through future rent growth or targeted value-add enhancements.
Listing Contacts
Listed by Matthews, Marcus & Millichap - Encino
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