Welcome to "The Calvert XIV", a brand-new 2025 townhome-style apartment building located in the vibrant and highly sought-after North Hollywood neighborhood, just minutes from the North Hollywood Arts District.
Built with a Senate Bill 8 exemption, this property is not subject to radical Los Angeles rent control, making it an exceptional investment opportunity for generating market rents. The property consists of approximately 16,000 Sq Ft. consisting of four duplexes, two ADU's and four Rec rooms that will be converted into studio apartments on a 12,681 lot size.
The well-designed unit mix includes four 3-bedroom, 4-bathroom units with rooftop decks, four 3-bedroom, 4-bathroom units, four 1- bedroom, 1-bathroom units, and two 2-bedroom, 2-bathroom units. Each unit features in-unit washer and dryer, hardwood floors, stainless steel appliances, and recessed lighting, offering residents a luxurious and modern living experience.
With a $8,500,000, this turnkey investment delivers a projected 6.08% CAP rate in a prime location with many other new construction multi family properties on the same street. Built with class and elegance by Thornton Development Group, this property showcases high-end finishes and meticulous craftsmanship.
Residents will enjoy close proximity to the vibrant energy of the North Hollywood Arts District along with everything else that Toluca Lake, Studio City, and Valley Village has to offer.
Truly an incredible investment opportunity that will make a great fit in any investors portfolio.
Project Features:
Location: North Hollywood
Architect: Covar Designs Inc
Property Type: Multi-Family
Status: Completed
Thornton Developments is a one-stop-shop for your high-end real estate development and investment needs. Contact us to learn how you can get involved in our future projects and beyond.