Prime W. Toluca Lake / 8-Unit Apartment

The Ghobadi Investment Team at Colliers International is pleased to present an exceptional 8-unit multifamily investment opportunity in a prime North Hollywood/West Toluca Lake neighborhood, one of the San Fernando Valley’s most desirable and supply-constrained rental markets.
Built in 1962, the property consists of an estimated 7,236 square feet of improvements on a 7,500 square foot LAR3-zoned parcel, offering both strong in-place income and future upside potential. The unit mix includes five 1-bedroom units, two 2-bedroom/2-bath units, and one spacious 3-bedroom/2-bath unit, providing an attractive diversity of layouts that appeal to a wide tenant base.
The building has been well maintained and thoughtfully improved over time, featuring a roof replacement completed in 2024, upgraded copper plumbing, and completed Soft-Story seismic retrofit. In addition, the property is not subject to SB 721 balcony inspection requirements, reducing future capital expenditure concerns. A shared on-site laundry room provides additional tenant convenience and supplemental income potential.
Currently, four units are vacant, creating a rare opportunity for an investor to immediately reposition the asset, renovate units, and capture significant rental upside at market rates. With manageable operations and a straightforward layout, the property offers an ideal investment for both seasoned and first-time multifamily investors.
Offered for sale for the first time in more than 50 years, this generational asset presents a unique opportunity to acquire a well-located apartment building with strong fundamentals, operational simplicity, and long-term growth potential.
The property is ideally positioned near the border of North Hollywood and Toluca Lake, two highly attractive rental submarkets known for strong tenant demand, walkability, and proximity to major employment centers. The location is close to the NoHo Arts District, Universal Studios, Studio City, Burbank Media District, and major entertainment and production hubs that continue to drive housing demand.
Residents enjoy close proximity to restaurants, cafes, retail amenities, and entertainment venues along Lankershim Boulevard and Riverside Drive, as well as easy access to the Metro Red Line, Hollywood Freeway (101), Ventura Freeway (134), and Interstate 5, providing seamless connectivity throughout Los Angeles.
The surrounding area attracts professionals working in entertainment, media, healthcare, and technology sectors, supporting long-term rental stability and consistent occupancy levels. With ongoing neighborhood revitalization and continued investment throughout North Hollywood, the location remains one of the Valley’s most dynamic and growth-oriented multifamily markets.