The Strohm Building — Sale in North Hollywood, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: North Hollywood, CA 91601

Investment Figures

Cap rate
4.63%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The Strohm Building at 10455 W Magnolia Blvd is a 2016-vintage, elevator-served, 26-unit asset with rooftop amenities in the heart of North Hollywood. Delivered with a March 17, 2016 CofO and fully sprinklered (NFPA-13), the property offers modern systems, in-unit laundry, and secured parking—checks every “institutional” box while remaining a manageable, sub-30-unit scale. The asset is unencumbered by rent control or affordability covenants—not subject to Los Angeles RSO and exempt from AB 1482 through 2031—allowing an investor to implement market-driven rent strategy without statutory caps. In-place rents are approximately 14 percent below market across a balanced mix of studios, one-bedroom with a den, and two-bedroom/two-bathroom plans, with the seller planning approximately five percent increases on eligible units prior to close. That creates an immediate NOI lift at acquisition and a clear, organic path to stabilization over upcoming lease turns. A straightforward ADU conversion of a portion of the garage/storage area (concept plans provided) would add a two-bedroom unit of between 800 and 850 square feet, targeting roughly $2,600 per month. At a five percent yield, the ADU translates to an estimated $600K of value creation, pushing the count from 26 to 27 units and further strengthening per-SF and per-unit metrics. The North Hollywood/Toluca Lake pocket delivers sticky tenant demand—walkable to Magnolia retail, proximate to the NoHo Red Line (~1.2 miles), and minutes to the 170/134—while major studios and healthcare anchors underpin long-term occupancy. This is a rare Class A, non-regulated Los Angeles multifamily with both near-term NOI acceleration (seller increases + market catch-up) and structural upside (ADU). For buyers seeking durable cash flow with multiple levers to grow value, The Strohm Building stands out. Investment Highlights: • 2016 Elevator-Served Construction – Modern systems, NFPA-13 sprinklers, in-unit laundry, and rooftop amenity deck supp

Market Context

This multifamily in North Hollywood, CA is listed for sale. It is offered at an approximate 4.6% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 99 days. Compare it against other multifamily listings for sale in North Hollywood, CA — view the full market.

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