Good idea to invest in fourplex in Los Angeles North Hollywood?

[Igor Nastaskin]

Hi, I am looking for a feedback from more experienced members. Currently I am planning to buy a newly built fourplex in NoHo area of Los Angeles (sandwiched between North Hollywood and Toluca Lake). What concerns me is that for the past 2-3 years there is a lot of new development going on, putting similar townhouses on the market. I am a bit concerned that near term constant increase in supply would drive the rents downward. There are already several similar townhouses on market that are available for rent. Seller who is also a RE agent assured me that demand is very high and he is able to rent out other units in similar fourplexes rather quickly, even during COVID downturn. So I wanted to get some feedback from members who know this market to comment if it would be a good idea to invest there. My goal is 0 to positive cash flow and mainly banking on rent appreciation over time. 

A little bit of background info - all units in fourplex have garages, are 3-4 bedrooms, and delivered vacant. Some of the units that were rented out ~2 years ago and are back on  market are at same, higher and lower rents. Thank you.