5415 Newcastle AveLos Angeles, CA 91316
- Apartment buildings
- 71,765 SF
Property Details for 5415 Newcastle Ave
- Year built
- 1964
- Lot size
- 1.40 AC
- Property size (Sq ft)
- 71,765 SF
- Property type
- Apartment buildings
Description
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.
Location Insight
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Latitude
- 34.1691
- Longitude
- -118.525
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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