$1,599,000

4418 Cahuenga Boulevard

Toluca Lake CA, 91602

Description

THIS IS AN EXCLUSIVE OFFERING IN THE AFFLUENT NEIGHBORHOOD OF TOLUCA LAKE ON A GREAT VISIBILITY STREET. THIS IS A ONE OF a KIND OPPORTUNITY FOR AN ASTUTE INVESTOR WHO REALIZES THE RENTS ARE QUITE A BIT UNDER MARKET (35% + ON 3 OF THE UNITS) ALLOWING ONE THE ABILITY TO INCREASE THE RENT EVERY YEAR EVEN WITH RENT CONTROL. THE UNIT MIX CONSISTS OF ONE -2 BEDROOM UNIT & THREE - 1 BEDROOM UNITS. THE UNITS ARE VERY LARGE, TOTALING APPROXIMATELY 3,110 SQFT OF LIVING SPACE ON A 6,600 SQFT LOT WITH 4 DETACHED COVERED PARKING SPACES IN THE BACK OF THE PROPERTY. ALL THE UNITS ARE SEPARATELY METERED. IT HAS BEEN IMPECCABLY MAINTAINED BY THE OWNERS AND HAS GREAT CURB APPEAL. THERE IS AN ALLEY IN THE REAR OF THE PROPERTY . THE PROPERTY ALLOWS FOR FUTURE DEVELOPMENT BASED ON ITS CURRENT ZONING. A DEVELOPER CAN BUILD UP TO 8 NEW UNITS BY RIGHT AND UP TO 12 NEW UNITS WITH BONUS DENSITY PER THE CITY OF LA. THERE IS A LOT OF NEW CONSTRUCTION IN THE AREA INCLUDING A BRAND NEW 10 UNIT APARTMENT BUILDING TWO DOORS DOWN AND ANOTHER 5 UNIT CONDOMINIUM BUILDING AROUND THE CORNER. THERE ARE PLANS FOR A NEW 57 UNIT APARTMENT BUILDING JUST DOWN THE STREET THAT IS GOING TO BEGIN CONSTRUCTION THIS YEAR. VERY RARELY DO YOU SEE A RESIDENTIAL 4 UNIT PROPERTY OF THIS SIZE BECOME AVAILABLE FOR SALE IN SUCH AN EXCELLENT TOLUCA LAKE LOCATION. THE PROPERTY IS LOCATED NEAR TOLUCA LAKES MANY RESTAURANTS, STORES, ENTERTAINMENT AND IS CLOSE PROXIMITY TO THE RENOWN TOLUCA LAKESIDE COUNTRY CLUB. SUBMIT!

Details

MLS#SR20253590
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1940
Days On Site153

Features

SQ Feet3,110
Car PortYes
Story(s)2
Acreage0.15
Water FrontNo
Property ViewYes
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Area Information
StateCA
CountyLos Angeles
CityToluca Lake
Zip Code91602
AreaTUL - Toluca Lake
Listing VS Median (in 91602)
Price:
$1,599,000
low | high
Med:
$607,500
100% of Average
SqFt:
3,110
low | high
Med:
1,109
100% of Average
$ / SqFt:
$514
low | high
Med:
$550
43.037127661074% of Average
On Site:
153
low | high
Med:
6.500000
100% of Average
Sourced by Back At You
Listing Updated: May 9, 2021 8:09:39 AM PDT
Daniel Drantch LogoMLS Number: SR20253590
Listing Provided By:
Daniel Drantch  of  Rodeo Realty
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.