Los Angeles, North Hollywood, CA (March 6, 2025) – Commercial Asset Advisors (CAA) is pleased to announce the successful sale of a 40-unit, low-density, garden-style multifamily asset located at 11744 Runnymede St., North Hollywood, CA 91605 for $8,000,000 on February 21, 2025.
The property features a highly desirable unit mix, predominantly consisting of two-bedroom units, offering substantial income upside. Its low-maintenance construction and favorable location further enhance its investment appeal. The transaction highlights the strong demand for well-located, value-add multifamily opportunities in the Los Angeles market, despite regulatory challenges.
Highlights:
Price Per Unit: $200,000
In-Place Cap Rate: 6.30%
Proforma Cap Rate: 10.86%
Price Per Square Foot: $219.78
Year Built: 1970 Construction
Asset Type: LA Rent Stabilized Ordinance (RSO)
Property Style: Low-Density, Garden-Style
CAA’s Maxwell Brown, lead agent for the transaction, represented both the buyer and the seller. Through a highly targeted marketing campaign, the property generated 21 competitive offers over a seven-month exposure period. The transaction faced unique challenges due to the pending results of Proposition 33, which could impact the heavily regulated Rent Stabilized Ordinance (RSO) asset type in Los Angeles. However, a well-aligned buyer was secured who recognized the asset’s significant upside potential.
“Our tailored marketing strategy and deep market expertise allowed us to navigate regulatory uncertainties and attract a strong pool of investors,” said Brown. “The seller was able to transition into a less regulated market, while the buyer secured an asset primed for a strategic value-add repositioning with large upside potential.”
This transaction underscores CAA’s track record of maximizing value for clients across diverse asset types and locations. With a strong presence across Southern California, CAA continues to deliver exceptional results for buyers and sellers in an evolving commercial real estate landscape.
For more information on this transaction or to explore investment opportunities, contact Maxwell Brown, Senior Vice President (DRE Lic. # 02127395), at mbrown@caacre.com.
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About Commercial Asset Advisors
Commercial Asset Advisors is a San Diego-based commercial real estate brokerage that specializes in serving the unique needs of individual private clients, as well as family offices, corporate, institutional, nonprofit and national organizations. As a full-service CRE firm, our team has assisted property owners from Central San Diego, North County, East County, South County and beyond to maximize the value of their investments including office, retail, industrial, apartment and multi—family, mixed-use projects, ground-up development tenant representation and much more. With experience earned through exceptional hard work, CAA has successfully completed over 1,500 sale and lease transactions totaling over $1.5 billion in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.
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