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    4418 Cahuenga Boulevard

    Toluca Lake, CA 91602
    • $1,599,000
    • STATUS: Active Under Contract
    • ON SITE: 227 days
    • ID#: SR20253590
    Under Contract
    UPDATED: 70 min ago
    $1,599,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,110
      SQFT
    • $514
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1940
    County:

    School Ratings & Info

    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!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-07-24T21:27:47.573. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Twiss Realty. Licensed in the State of California, USA.
    www.twissrealty.com/homes/112468296
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    4418 Cahuenga Boulevard Toluca Lake, CA 91602

    • Price: $1,599,000
    • Status: Active Under Contract
    • Updated: 70 min ago
    • ID#: SR20253590
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    3,110
    SQFT
    $514
    $/SQFT
    1940
    Built
    Neighborhood:
    TUL - Toluca Lake
    County:
    Los Angeles
    Area:
    TUL - Toluca Lake
    Property 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!
    Exterior Features

    Architectural Style Traditional Carport Spaces 4 Carport YN Yes Exterior Features Awning(S)Rain Gutters Fencing Block Foundation Details See Remarks Lot Features Street Level Number Of Separate Electric Meters 4 Parking Features Assigned Parking Total 4 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Roof Composition Spa Features None Spa YN No View Mountain(S) View YN Yes

    Interior Features

    Accessibility Features None Appliances DisposalGas OvenGas RangeGas Water HeaterWater Heater Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring CarpetLaminateWood Heating Floor FurnaceWall Furnace Heating YN Yes

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 2.45 Common Interest None Community Features CurbsGutter(S)Street LightsSidewalks Contingency None. Buyer To Cooperate With Seller 1031 Tax Exchange At No Cost Or Liability To The Buyer. Disclosures Covenants/Restrictions Disclosure Electric Expense 0 Garage YN No Gross Income 66720 Gross Scheduled Income 66720 Insurance Expense 3851 Land Lease YN No Laundry Features None Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 1207 Net Operating Income 39236 New Construction YN No New Taxes Expense 19351 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Operating Expense 27484 Other Expense 468 Pest Control Expense 204 Rent Control YN Yes Senior Community YN Yes Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 5560 Trash Expense 0 Utilities Electricity AvailableElectricity ConnectedNatural Gas ConnectedSewer AvailableSewer ConnectedWater AvailableWater Connected Vacancy Allowance 0 Vacancy Allowance Rate 0 Water Sewer Expense 1360 Water Source Public Zoning Lar3

    Listing provided courtesy of Daniel Drantch of Rodeo Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-07-24T21:27:47.573. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Twiss Realty. Licensed in the State of California, USA.
     
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