Offering

The Offering

The Strohm Building is a 26-unit, elevator-served apartment community in the heart of North Hollywood's NoHo Arts District. Delivered in 2016, the property offers in-unit laundry, individual tankless water heaters, central HVAC, a rooftop lounge, and a 36-space subterranean gated garage. The asset is not subject to the City of Los Angeles RSO and is reported exempt from AB 1482 through 2031, giving an investor a market-driven rent strategy on in-place rents that are approximately 14% below market. Concept plans also outline an approximately 800 to 850 SF two-bedroom ADU conversion from garage and storage area, creating a potential path from 26 to 27 units.

1. 01

   2016-vintage, elevator-served 26-unit asset with modern systems and no soft-story retrofit exposure

2. 02

   Not subject to Los Angeles RSO and reported exempt from AB 1482 rent caps through 2031

3. 03

   In-place rents are approximately 14% below market, with scheduled rent of $704,692 versus $798,840 at market

4. 04

   ADU concept can convert garage and storage area into an approximately 800 to 850 SF two-bedroom unit

5. 05

   Rooftop lounge, BBQ, fire pit, controlled access, interior mailroom, and 36-space subterranean gated garage

6. 06

   Balanced unit mix of 15 studios, 2 one-bedroom with den units, and 9 two-bedroom / two-bath units

7. 07

   Walkable to Magnolia retail and approximately 1.2 miles to the NoHo Metro B Line station

8. 08

   Located within a federal Opportunity Zone and the Los Angeles State Enterprise Zone, subject to buyer verification