5415 Newcastle AveLos Angeles, CA 91316

Property Details for 5415 Newcastle Ave

Year built

1964

Lot size

1.40 AC

Property size (Sq ft)

71,765 SF

Property type

Residential income properties

Property subtype

Multifamily properties

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

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