4453 Colfax Ave, Studio City, CA 91602

Property Description

Welcome to 4453 Colfax Ave, an exceptionally unique non-rent controlled new construction fourplex in Studio City. This gorgeous, easy-to-maintain fourplex is made up of two duplexes consisting of four, 4 bedroom, 4 bathroom units each. We project an exceptional cap rate of 5.2%, which is impossible to find in this A+ location as other apartment buildings in Studio City are selling at a 3.80% cap rate. There are multiple lease applications in hand, with the market rent nearby ranging from $5,700 to $6,500. The building is close to the new Shops at Sportman Lodge that features stores, shops, and restaurants including Erewhon, Equinox, and walkability to the nice restaurants and shops at Moorpark Tujunga Village. The units include a sleek modern kitchen with stainless steel appliances, high-quality finishes, balconies, inviting open floorplans, separate meters for gas, water & electric, low maintenance, and top desirability amongst renters for the location proximity to Universal Studios, over-the-hill to West Hollywood, Sherman Oaks and Toluca Lake. This is a trophy property in an amazing location that is an investor's dream, perfect for anyone with a 1031 EXCHANGE or anyone wanting an extraordinary fourplex in one of the best locations in all of Los Angeles with an amazing cap rate. The building is fully vacant and is ready to be leased immediately with all lease applications in hand or the buyer's choice of renters. Furthermore, there are some similar buildings close by that are renting fully furnished from $7,500 to $10,000 per month with an opportunity for more net income. Buyer is to verify all and do their own due diligence.