4418 Cahuenga Boulevard

Estimated Monthly Payment: $7,292/mo 4418 Cahuenga Boulevard, Toluca Lake, CA 91602 MLS# SR20253590 Residential Income Listing Status: Active
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REMARKS:

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 LAKE’S MANY RESTAURANTS, STORES, ENTERTAINMENT AND IS CLOSE PROXIMITY TO THE RENOWN TOLUCA LAKESIDE COUNTRY CLUB. SUBMIT!

OVERVIEW:

Residential Income
Active
TUL - Toluca Lake
Traditional
1940
Level with Street, Lot 6500-9999
Block
Composition
See Remarks
Assigned
Floor Furnace, Wall Furnace
Wall/Window Unit(s)
Public
Public Sewer
Electricity Available,Electricity Connected,Natural Gas Connected,Sewer Available,Sewer Connected,Water Available,Water Connected

FEATURES:

Awning(s), Rain Gutters
Curbs,Gutters,Sidewalks,Street Lights
None
None
Disposal,Gas Oven,Gas Range,Gas Water Heater,Water Heater
None
Mountain(s)

ROOM INFO:

Kitchen, Living Room
Carpet,Laminate,Wood

FINANCIAL:

$1,599,000

NEIGHBORHOOD & SCHOOL INFORMATION:

Broker Reciprocity Courtesy of Daniel DrantchRodeo Realty

 

California Department of Real Estate License 

 

Based on information from the CRISNet MLS as of 04/17/2021, 6:53:56 PM. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The information being provided is 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.