The Strohm Building 10455 Magnolia Blvd 26 Unit Apartment Building $13,548,501 CAD ($521,096 CAD/Unit) 4.63% Cap Rate North Hollywood, CA 91601

The Strohm Building at 10455 W Magnolia Boulevard is a 2016-vintage, elevator-served, 26-unit asset with rooftop amenities in the heart of North Hollywood. Delivered with a March 17, 2016, Certificate of Occupancy and fully sprinklered (in accordance with NFPA-13), the property features modern systems, in-unit laundry, and secured parking. The offering checks every “institutional” box while remaining a manageable, sub-30-unit scale.

The asset is unencumbered by rent control or affordability covenants, meaning it is not subject to Los Angeles RSO (Rent Stabilization Ordinance) and exempt from AB 1482 (Tenant Protection Act), through 2031, allowing an investor to implement a market-driven rent strategy without statutory caps. In-place rents are approximately 14% below market across a balanced mix of studios, one-bedroom units with dens, and two-bedroom/two-bathroom plans. The seller plans to increase rents by approximately 5% on eligible units prior to closing. 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 to 850 square feet, targeting roughly $2,600 per month. At a 5% yield, the ADU translates to an estimated $600,000 of value creation, pushing the count from 26 to 27 units and further strengthening per square foot and per-unit metrics.

The North Hollywood/Toluca Lake pocket delivers sticky tenant demand. The Strohm Building is walkable to Magnolia retail, proximate to the NoHo Red Line (1.2 miles away), and just minutes from the 170 and 134 Freeways. All while major studios and healthcare anchors underpin long-term occupancy.

This is a rare Class A, non-regulated Los Angeles multifamily property with both near-term NOI acceleration (seller increases, plus market catch-up) and structural upside (ADU). The Strohm Building is an ideal stand-out opportunity for buyers seeking durable cash flow with multiple levers to grow value.