Prepared for Your Review
March 2026
The LAAA Team was built on one guiding principle: results matter more than relationships - but relationships make results possible. With over 501 closed transactions and $1.6 billion in sales volume, we have earned our position as one of Southern California's most active multifamily teams by delivering consistently for every client, on every deal.
We approach every listing with rigorous preparation, transparent communication, and relentless execution. Our team invests the time to understand each property, its story, and its market position before we ever go to market. That discipline is what allows us to price accurately, generate genuine buyer competition, and close at or above asking price.
Whether you are a first-time seller or a seasoned investor with a large portfolio, you deserve an advisor who will tell you the truth about your asset and fight for every dollar at the closing table. That is the LAAA standard, and it is why our clients return and send us everyone they know.
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• National Achievement Award - Recognized annually since 2015 for top national production
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• SIA Induction - Senior Investment Advisor designation (Glen 2020 • Filip 2018)
• #1 Most Active Multifamily Team in LA County - CoStar, 2019, 2020, 2021
The LAAA Team is proud to present 4503 Castle Lane, a well-maintained triplex in La Canada Flintridge -- one of the most coveted residential communities in Los Angeles County. The property comprises three units across 2,335 rentable square feet on a 6,098 SF lot, located in the City of La Canada Flintridge, home to NASA's Jet Propulsion Laboratory (JPL) and served by the nationally ranked La Canada Unified School District.
The unit mix includes one 1-bedroom/1-bath (635 SF, downstairs facing Foothill) and two 2-bedroom/1-bath units (850 SF each, one downstairs and one upstairs). All three units are occupied with stable, long-term tenants. The 2BR units represent significant below-market rents - at $500-600/month under the Rentometer median of $2,548 - creating compelling rent upside as natural turnover occurs. The 1BR is at or near market.
The seller acquired the property in January 2010 for $728,000 and has self-managed since acquisition. A new hot water heater was installed in 2025. The property is subject to CA AB 1482 statewide tenant protections (annual CPI + 5% max increase). La Canada Flintridge has no local rent stabilization ordinance. The 6,098 SF lot may support an ADU under current La Canada Flintridge and state ADU law.
La Canada Flintridge is an incorporated city in the Crescenta Valley foothills of the San Gabriel Mountains, known nationally for being home to NASA's Jet Propulsion Laboratory (JPL) and the California Institute of Technology's research partner institutions. The city attracts a high-income, highly educated professional demographic -- aerospace engineers, scientists, and academics -- who sustain some of the lowest rental vacancy rates in LA County. The community's low-density character and active neighborhood associations make new multifamily development exceptionally rare.
The property sits near Foothill Boulevard, the area's primary commercial corridor. Residents enjoy walkable access to dining, retail, and services along Honolulu Avenue in adjacent Montrose -- a charming village district popular for farmers markets and local businesses. The 210 Freeway provides direct access to Burbank, Pasadena, and the 5/101 interchange. Downtown Los Angeles is approximately 14 miles south, and JPL is within 3 miles.
La Canada Unified School District (LCUSD) serves this neighborhood and is consistently ranked among the top 5 school districts in California -- with 98% of graduates enrolling in post-secondary institutions. School quality is the single most cited factor for family residential demand in LCF, creating a permanent, self-reinforcing driver of property values and rent stability. The submarket has no flood zone exposure and no new multifamily pipeline.
| Location Details | |
|---|---|
| Zip Code | 91011 |
| County | Los Angeles |
| Jurisdiction | City of La Canada Flintridge (no local RSO) |
| Cross Streets | Foothill Blvd / Rosemont Ave |
| Elementary School | Palm Crest Elementary (LCUSD) |
| Middle School | La Canada High (7-12, LCUSD) |
| High School | La Canada High School (LCUSD, top 5 in CA) |
| Nearest Freeway | 210 Freeway (0.5 mi) |
| Miles to Burbank Studios | ~8 miles |
| Miles to DTLA | ~14 miles |
| Property Overview | |
|---|---|
| Address | 4503-4507 Castle Lane, La Canada Flintridge, CA 91011 |
| Property Type | Triplex - 3 Units |
| Year Built | 1952 |
| Rentable SF | 2,335 SF |
| Avg Unit SF | 778 SF |
| Stories | 2 (4507 is upstairs) |
| Ownership | Fee Simple |
| Current Owner Since | January 5, 2010 |
| Site & Zoning | |
|---|---|
| Lot Size | 6,098 SF (~0.14 acres) |
| Zoning | R-3 (City of La Canada Flintridge Multifamily Residential) |
| Land Type | Fee Simple |
| Parking | Street / On-site |
| ADU Potential | Yes - Glendale ADU ordinance applicable |
| Sewer | Public Sewer |
| Water | Public |
| Building Systems & Capital | |
|---|---|
| Construction | Wood frame / Stucco |
| Unit 4503 | 1BR/1BA - 635 SF, downstairs, faces Foothill |
| Unit 4505 | 2BR/1BA - 850 SF, downstairs |
| Unit 4507 | 2BR/1BA - 850 SF, upstairs |
| Water Heater | New 2025 |
| Cooling | Wall/window units |
| Regulatory & Compliance | |
|---|---|
| Rent Control | No local RSO |
| CA AB 1482 | Applies - annual CPI + 5% max increase |
| Local RSO | None - City of La Canada Flintridge has no rent stabilization ordinance |
| Seller Self-Managed | Yes - no management company |
Owner-Users (Primary Target)
FHA 2-4 unit financing allows 3.5% down with the buyer occupying one unit. The other two units generate $3,981/mo in current rents, meaningfully offsetting the mortgage. An owner-user in La Canada Flintridge also captures the city's JPL-driven demand and top-rated LCUSD schools -- lifestyle value that pure investors cannot price.
All-Cash Investors
Buyers seeking inflation protection and long-term appreciation in an undersupplied La Canada Flintridge submarket. Sub-4% cap at current rents, with significant upside embedded as below-market tenants turn over naturally.
1031 Exchange Buyers
Blue-chip La Canada Flintridge location, strong equity story, and rent upside align with exchange buyers targeting safe, appreciating LA infill over near-term cash-on-cash returns. Three comparable sales in this immediate submarket support pricing.
All three comparable sales in this immediate submarket closed at or above asking price in under 11 days, confirming genuine buyer competition for well-priced La Canada Flintridge multifamily.
"The cap rate is below 4% - why would I pay this?"
La Canada Flintridge triplexes trade at sub-4% current caps because buyers price in rent upside and long-term appreciation in this supply-constrained, school-driven market. All three comps in this submarket sold at comparable cap rates. The pro forma cap at market rents is 4.62% at list price -- among the strongest pro forma yields in this submarket.
"This doesn't cash-flow with conventional financing."
Correct at investment loan rates -- and our primary buyer pool accounts for this. Owner-users at FHA rates and 3.5% down achieve very different cash flow dynamics. All-cash buyers earn $60,114 NOI at market rents (4.62% pro forma cap). This is an equity play in a top-tier school district with a credible income story at natural turnover.
"The 2BR rents are far below market - that's a risk."
Below-market rents are the opportunity, not the risk. At natural turnover, rents reset to the $2,548 Rentometer median - a 30% increase per unit. Tenants since 2002 and 2010 have not had market resets in decades. There is no capital requirement to capture this upside.
"The lot is smaller than the comps."
Reflected in our pricing: at $433K/unit, the subject is priced well below the three-comp average of $593K/unit -- a 27% discount that fully accounts for the lot differential. The 6,098 SF lot may support an ADU under state law, creating value-add optionality not available at many comp properties.
As of March 2026, the 30-year fixed rate averaged 6.00% (Freddie Mac, week of March 5, 2026) - its lowest level since September 2022 after dipping to 5.98% in late February. Investment property loans on 2-4 unit properties carry a 0.50%-0.75% premium over owner-occupied rates, making borrowing conditions materially better than the 2023-2024 peak near 7.50%.
| Loan Type | Rate Range | Max LTV | Key Notes |
|---|---|---|---|
| Conventional - Owner-Occupied | 6.00%-6.50% | 85-90% | Fannie/Freddie. Borrower must occupy one unit. |
| FHA - Owner-Occupied | 5.50%-6.25% | 96.5% | 3.5% down. MIP required. Projects rental income for qualification. |
| Conventional - Investment | 6.50%-7.25% | 75-80% | 25% down minimum. Personal income + global cash flow. |
| DSCR Loan | 6.75%-7.75% | 70-75% | Qualifies on property cash flow only. No income verification. |
| Portfolio / Bank Loan | 5.50%-7.50% | 70-75% | Flexible underwriting. May offer interest-only periods. |
| Private / Hard Money | 8.50%-12.00% | 60-70% | Short-term only. Not suitable for hold strategy. |
| Scenario | Down | Rate | Annual DS | PF NOI | Cash Flow |
|---|---|---|---|---|---|
| 25% Down - Inv. Conv. | $313K | 6.75% | $72,981 | $54,330 | ($18,651) |
| 35% Down - Inv. Conv. | $438K | 6.75% | $63,250 | $54,330 | ($8,920) |
| 50% Down - Modeled | $625K | 6.25% | $46,181 | $54,330 | $8,149 |
| All Cash | $1,250K | - | - | $54,330 | $54,330 (4.35%) |
| # | Address | Units | Bldg SF | Lot SF | Yr Built | Sold Price | $/Unit | $/SF | DOM | Sale Date | SP/LP |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2511 Hermosa Ave, Montrose | 3 | 2,677 | 7,323 | 1923 | $1,340,000 | $446,667 | $501 | 11 | Aug 2025 | 103.1% |
| 2 | 3357 Honolulu Ave, La Canada Flintridge | 3 | 2,815 | 7,211 | 1947 | $1,450,000 | $483,333 | $515 | 2 | Oct 2025 | 103.6% |
| 3 | 4543 Rockland Pl, La Canada Flintridge | 2 | 2,047 | 6,445 | 1953 | $1,700,000 | $850,000 | $830 | 4 | Oct 2025 | 100.3% |
| Avg | 2.7 | 2,513 | 6,993 | 1941 | $1,496,667 | $593,333 | $615 | 6 | 102.3% | ||
| Subject | 4503 Castle Lane, La Canada Flintridge | 3 | 2,335 | 6,098 | 1952 | $1,300,000 | $433,333 | $557 | - | - | - |
1. 2511 Hermosa Ave, Montrose - $1,340,000 (Aug 2025) - This Montrose triplex sold in August 2025 at 103.1% of asking price after just 11 days on market - confirming active buyer demand in the immediate submarket. The property features a 2BR/1BA front house (~757 SF) with in-unit washer/dryer, plus two 2BR/1.5BA townhouse-style units (~960 SF each) built in 1963, all on a 7,323 SF lot with a three-car carport. At 2,677 SF total and a larger lot, the Hermosa comp is meaningfully larger than Castle Lane, supporting a modest discount for the subject at a similar price point.
2. 3357 Honolulu Ave, La Canada Flintridge - $1,450,000 (Oct 2025) - This La Canada Flintridge triplex sold in October 2025 at 103.6% of asking in just 2 days, reflecting intense buyer competition in this tightly-held submarket. The property includes a standalone 3BR/2BA house (~1,300 SF) plus two 1BR/1BA units (~800 SF each, built 1980) on a 7,211 SF lot with a 5-car garage. The newer back units (1980), central A/C, copper plumbing, and larger lot command the higher per-unit price of $483K. The subject's smaller footprint supports pricing at a measured discount to this comp.
3. 4543 Rockland Pl, La Canada Flintridge - $1,700,000 (Oct 2025) - Located approximately 100 feet from the subject, this same-vintage (1953) La Canada Flintridge property sold in October 2025 at 100.3% of asking price in just 4 days on market. The property features a newly remodeled 3BR/2BA main residence (1,345 SF) and a detached 1BR/1BA guest house (702 SF) on a 6,445 SF lot -- a near-identical lot to the subject. At $1,700,000, this immediately adjacent comp provides the most direct pricing benchmark available. The subject triplex at $1,300,000 is priced at a 23.5% discount, appropriate given the subject's three-unit income profile versus the owner-occupied primary home structure of the Rockland comp.
| Bed Type | Median | Mean | 25th Pct | 75th Pct | Samples |
|---|---|---|---|---|---|
| 1 Bedroom | $1,900 | $1,915 | $1,586 | $2,244 | 7 |
| 2 Bedroom | $2,548 | $2,676 | $2,429 | $2,923 | 18 |
| # | Address | Type | Rent/Mo | Notes |
|---|---|---|---|---|
| 1 | 3250 Fairesta St, La Crescenta | 1BR | $2,320+ | Available now |
| 2 | 2535 Cross St, La Crescenta | 1BR | $2,500 | Cross Apartments |
| 3 | 3055 Foothill Blvd #9, La Crescenta | 1BR | $2,095 | 730 SF comparable |
| 4 | Montrose Area (Honolulu Ave) | 2BR | $2,795 | Fully remodeled, in-unit W/D |
| Unit | Current Rent | Market Median | Monthly Upside | Annual Upside |
|---|---|---|---|---|
| 4503 (1BR) | $1,920 | $2,095-$2,320 | $175-$400 | $2,100-$4,800 |
| 4505 (2BR) | $1,958 | $2,548 | $590 | $7,080 |
| 4507 (2BR) | $2,023 | $2,548 | $525 | $6,300 |
| Total | $5,901/mo | $7,191-$7,416/mo | $1,290-$1,515/mo | $15,480-$18,180/yr |
Active rental listings in the La Canada Flintridge / Crescenta Valley area confirm substantial rent upside for the Castle Lane portfolio. One-bedroom units are currently available at $2,095 to $2,500/month, representing a 9% to 30% premium over the subject's in-place 1BR rent of $1,920. Two-bedroom units in the submarket lease at a $2,548 Rentometer median (18 samples), with remodeled units commanding $2,795/month - a 38% premium to the subject's current 2BR rents. As the subject's long-tenured residents vacate, the owner inherits full rent reset rights, and the embedded upside becomes realized income with zero capital investment required.
| Unit | Type | SF | Current Rent | Rent/SF | Market Rent | Market/SF | Tenant Since | Next Raise |
|---|---|---|---|---|---|---|---|---|
| 4503 | 1BR / 1BA | 635 | $1,920 | $3.02 | $2,095 | $3.30 | Sep 2022 | 1/31/2026 |
| 4505 | 2BR / 1BA | 850 | $1,958 | $2.30 | $2,548 | $3.00 | Feb 2010 | 7/1/2026 |
| 4507 | 2BR / 1BA | 850 | $2,023 | $2.38 | $2,548 | $3.00 | Feb 2002 | 7/1/2026 |
| Total | 2,335 | $5,901/mo | $2.53 | $7,191/mo | $3.08 |
Market rents per Rentometer (March 2026): 1BR median $1,900 (7 samples, 3 mi); 2BR median $2,548 (18 samples, 2 mi). Active listing range: 1BR $2,095-$2,500; 2BR $2,548-$2,795. Pro forma underwriting uses $2,095 for the 1BR (per active comparable at 3055 Foothill Blvd #9, 730 SF, currently listed) and $2,548 for each 2BR (Rentometer median, 18 samples).
| Income | Annual | Per Unit | $/SF | % EGI |
|---|---|---|---|---|
| Gross Scheduled Rent | $70,812 | $23,604 | $30.33 | - |
| Effective Gross Income | $70,812 | $23,604 | $30.33 | 100.0% |
| Expenses | Annual | Per Unit | $/SF | % EGI |
|---|---|---|---|---|
| Real Estate Taxes [1] | $15,210 | $5,070 | $6.51 | 21.5% |
| Insurance [2] | $1,918 | $639 | $0.82 | 2.7% |
| Pest Control [3] | $1,032 | $344 | $0.44 | 1.5% |
| Utilities [4] | $2,772 | $924 | $1.19 | 3.9% |
| Trash Removal [5] | $1,496 | $499 | $0.64 | 2.1% |
| Repairs & Maintenance [6] | $2,250 | $750 | $0.96 | 3.2% |
| Service Contracts [7] | $1,500 | $500 | $0.64 | 2.1% |
| Total Expenses | $26,178 | $8,726 | $11.21 | 37.0% |
| Net Operating Income | $44,634 | $14,878 | $19.12 | 63.0% |
[1] Real Estate Taxes: Reassessed at purchase price per standard buyer underwriting. At $1,300,000 x 1.17% (LA County benchmark rate): $15,210/yr. Seller currently pays less under Prop 13; new ownership triggers full reassessment.
[2] Insurance: Owner's verified 2025 actual: $1,918/yr. Reflects the seller's self-managed policy for this 3-unit 1952 property.
[3] Pest Control: Owner's verified 2025 actual: $1,032/yr. Annual service contract.
[4] Utilities: Owner's verified 2025 actual: $2,772/yr. Water is owner-paid; tenants pay their own electricity and gas (individually metered).
[5] Trash Removal: Owner's verified 2025 actual: $1,496/yr. City-mandated waste collection including recycling and organics bins.
[6] Repairs & Maintenance: Normalized at $2,250/yr. 1952 vintage with new hot water heater installed 2025 (CapEx credit applied). Reflects typical annual maintenance for a well-maintained 3-unit structure.
[7] Service Contracts: $1,500/yr. Includes gardener and ongoing maintenance service contracts.
| OPERATING DATA | |
|---|---|
| Price | $1,300,000 |
| Down Payment (50%) | $650,000 |
| Number of Units | 3 |
| Price / Unit | $433,333 |
| Price / SF | $557 |
| Gross SF | 2,335 |
| Lot Size | 6,098 SF |
| Year Built | 1952 |
| Returns | Current | Pro Forma |
|---|---|---|
| Cap Rate | 3.43% | 4.62% |
| GRM | 18.36x | 15.07x |
| Cash-on-Cash | -0.52% | 1.86% |
| DCR | 0.93x | 1.25x |
| FINANCING | |
|---|---|
| Loan Amount | $650,000 |
| Type | Conv. Investment |
| Interest Rate | 6.25% |
| Amortization | 30 Years |
| Loan Constant | 7.39% |
| LTV | 50.0% |
| DSCR (Current) | 0.93x |
| Unit Summary | Units | Avg SF | Cur. Rent | Mkt Rent |
|---|---|---|---|---|
| 1BR / 1BA | 1 | 635 | $1,920 | $2,095 |
| 2BR / 1BA | 2 | 850 | $1,991 avg | $2,548 |
| Total | 3 | 778 avg | $5,901/mo | $7,191/mo |
| Income | Current | Pro Forma |
|---|---|---|
| Gross Scheduled Rent | $70,812 | $86,292 |
| Effective Gross Income | $70,812 | $86,292 |
| Cash Flow | Current | Pro Forma |
|---|---|---|
| Net Operating Income | $44,634 | $60,114 |
| Annual Debt Service | ($48,026) | ($48,026) |
| Cash Flow After DS | ($3,392) | $12,088 |
| Cash-on-Cash Return | -0.52% | 1.86% |
| Principal Reduction (Yr 1) | $7,617 | $7,617 |
| Total Return | 0.65% | 3.03% |
| Expenses | Current | Pro Forma |
|---|---|---|
| Real Estate Taxes | $15,210 | $15,210 |
| Insurance | $1,918 | $1,918 |
| Pest Control | $1,032 | $1,032 |
| Utilities | $2,772 | $2,772 |
| Trash Removal | $1,496 | $1,496 |
| Repairs & Maint. | $2,250 | $2,250 |
| Service Contracts | $1,500 | $1,500 |
| Total Expenses | $26,178 | $26,178 |
| Net Operating Income | $44,634 | $60,114 |
| Purchase Price | Current Cap | Pro Forma Cap | Cash-on-Cash | $/SF | $/Unit | PF GRM |
|---|---|---|---|---|---|---|
| $1,425,000 | 3.03% | 4.12% | -1.33% | $610 | $475,000 | 16.51x |
| $1,400,000 | 3.10% | 4.21% | -1.18% | $600 | $466,667 | 16.22x |
| $1,375,000 | 3.18% | 4.31% | -1.02% | $589 | $458,333 | 15.93x |
| $1,350,000 | 3.26% | 4.41% | -0.86% | $578 | $450,000 | 15.64x |
| $1,325,000 | 3.35% | 4.51% | -0.70% | $567 | $441,667 | 15.35x |
| $1,300,000 | 3.43% | 4.62% | -0.52% | $557 | $433,333 | 15.07x |
| $1,275,000 | 3.52% | 4.74% | -0.34% | $546 | $425,000 | 14.78x |
| $1,250,000 | 3.62% | 4.86% | -0.15% | $535 | $416,667 | 14.49x |
| $1,225,000 | 3.72% | 4.98% | 0.04% | $525 | $408,333 | 14.20x |
| $1,200,000 | 3.82% | 5.11% | 0.25% | $514 | $400,000 | 13.91x |
| $1,175,000 | 3.92% | 5.24% | 0.46% | $503 | $391,667 | 13.62x |
The Castle Lane triplex is positioned at $1,300,000 -- $433K/unit, anchored by three comparable sales in this immediate submarket. Most significantly, 4543 Rockland Pl -- located approximately 100 feet away -- sold for $1,700,000 in October 2025, providing the strongest single pricing benchmark available. The two triplex comps (2511 Hermosa Ave at $1,340,000 and 3357 Honolulu Ave at $1,450,000) average $465K/unit; the subject's three-unit income-producing structure relative to the Rockland owner-occupied format justifies a measured discount. At $433K/unit, the subject is priced 27% below the three-comp average of $593K/unit. All three comps sold at or above asking price in under 11 days during 2025, confirming deep buyer demand in this submarket.
The underwriting uses the owner's verified 2025 actual expenses -- a lower and more accurate expense base than benchmark estimates. Total annual expenses are $26,178 (37.0% of EGI), producing a current NOI of $44,634 (3.43% cap rate at $1,300,000). The primary buyer pool for this asset is owner-users who will occupy one unit and offset their mortgage with the remaining two units' $3,981/mo in current rents -- buyers who value La Canada Flintridge's JPL-driven employment base, nationally ranked LCUSD schools, and persistent supply constraints above pure investor cap rate math. At market rents, the pro forma NOI is $60,114 and the pro forma cap rate is 4.62%. Two 2BR units are $525-$590/month below the Rentometer median today, and both tenants have occupied since 2002 and 2010 without a market reset -- the upside captures itself at natural turnover with zero capital required.