For Sale
$16,750,000

5415 Newcastle AveLos Angeles, CA 91316

66-unit multifamily investment opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 66-unit apartment building, located at 5415 Newcastle Avenue in Los Angeles, CA 91316, presents a compelling investment opportunity. Built in 1964, the property boasts 71,765 square feet on a 1.4-acre lot, zoned LAR3. The building comprises three stories and features a desirable unit mix: four one-bedroom/one-bathroom units, fifty-six two-bedroom/one-and-a-half-bathroom units, and six spacious three-bedroom/three-bathroom units. Ample parking is provided with 66 tuck-under and carport spaces. Residents enjoy convenient amenities including a swimming pool and on-site laundry facilities. The property also benefits from solar panels tied to the hot water heating system. A soft story seismic retrofit has been completed. The asking price is $16,750,000, representing a price per unit of $253,788 and a price per square foot of $233.40. The property's pro-forma NOI is $776,684, resulting in a pro-forma cap rate of 4.64%. This well-maintained property offers significant upside potential in a prime Encino location. The property's APN is 2162-002-103.

Highlights

  • 66-unit apartment building, built in 1964.
  • Unit mix: 4 one-bedroom/one-bathroom, 56 two-bedroom/one-and-a-half-bathroom, and 6 three-bedroom/three-bathroom units.
  • 66 tuck-under and carport parking spaces.
  • Completed soft-story seismic retrofit.
  • Excellent Encino location with significant upside potential.
  • 71,765 square foot building on a 1.4-acre lot, LAR3 zoning.

Property Details for 5415 Newcastle Ave

Property type
Apartment buildings
Square Feet
71,765 SF
Year Built
1964
Buildings
1
Stories
3
Lot Size (sq. ft)
60,984 SF
Units
66

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.1690575
Longitude
-118.5250219
5415 Newcastle Ave, Los Angeles, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
5415 Newcastle Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message