A LA Multifamily success story in North Hollywood
4th SFV Sale in 2025 - 20 Units in NoHo
6819 Laurel Canyon Blvd.
We generated 10 offers on this 20-unit complex with no LA rent control in North Hollywood. View the case study and closing numbers below.
Offering Price
$3,820,000
City
North Hollywood
Current CAP
6.16%
Price per unit
$191,000
Lot Size
14,555 SF
6819 Laurel Canyon
Offering Price
$3,820,000
Number of Units
20 Units
Bldg. Size
17,466 SF
Price per Foot
$219
Year Built
1982
Market CAP
11.81%
Zoning
LAR3
Background
Located in the heart of North Hollywood, 6819 Laurel Canyon Blvd presented a rare 20-unit investment opportunity with significant rental upside and no local rent control restrictions. Built in 1982, this courtyard-style complex allowed for annual rental increases of 5% + CPI (currently 8.9%). Offered at $225,000 per unit and $258 per square foot, the property is priced as a high-potential value-add investment. With 60% rental upside, investors could achieve a stabilized 9.45% CAP rate and a 7.78 GRM, based on market-rate renovated units in the area. The unit mix consists of (16) two-bedroom, two-bath units, (3) one-bedroom units, and (1) studio. Beyond the strong in-place income and rental upside, 6819 Laurel Canyon sat on a large 14,555 SF lot, offering the opportunity to add ADUs for even greater cash flow potential (buyer to verify). The property also featured subterranean parking for approx. 37 vehicles, a new roof, and a new water heater, minimizing future capital expenditures.
It was an enticing opportunity in North Hollywood, but it came with its challenges. Current ownership was navigating the challenges of multifamily ownership in Los Angeles, and made the decision to cash out.
Result
Many of the building’s systems were original, and there were a significant number of long-term tenants. We highlighted these realities early on and ensured complete transparency for buyers and touring agents by showing them as many units as possible. We generated 10 offers within the first few weeks. Ultimately, we represented the buyer, an experienced investor who included a deposit release clause just days after acceptance, helping lock in the deal. We closed escrow 110 days after securing the listing. In addition, the sale of 6819 Laurel Canyon marks our fourth San Fernando Valley sale this year.
