North Hollywood, CA 91602 10611 Landale Street
$1,600,000
11 more
Presented By: Filip Niculete with Marcus & Millichap;
Home Details
We are proud to present 10611 Landale St, a primely located 5 unit multifamily property in the Toluca Lake neighborhood of Los Angeles. This rent controlled property was last sold in 1999, allowing buyers the chance to purchase a generational asset that hasn't been sold in 25 years!Built in 1951, this 4,114 square foot property sits on a 9,922 square foot lot (0.23 acres), and it boasts a strong unit mix of (3) 1 bed / 1 bath units, (1) studio, and (1) very large 2 bed / 1 bath unit that comes with a living room, dining room, and a den - the den is currently being used as a 3rd bedroom. The units are split between two different structures. The structure at the front of the lot houses the three 1-bedroom units, and the structure at the back has the smaller studio unit and the very large upstairs 2-bedroom unit. Also at the back are 5 private 1-car garages. The property has been very well taken over the decades of ownership. The roof, electrical, and plumbing systems are in good working order and the seller already completed the seismic retrofitting for the property in 2020.10611 Landale offers a strong value add play for investors. There's over 20% upside potential on the current units, and this property could be perfect to add units by converting some or all of the garages to ADUs. Situated in the highly walkable Greater Toluca Lake neighborhood with an impressive 83 Walk Score, the property is just steps away from popular parks like South Weddington Park and Woodbridge Park. Tenants will appreciate the convenience of nearby amenities and access to Riverside Drive and Cahuenga Boulevard. This prime location, combined with rental upside and ADU potential, makes 10611 Landale St a rare investment opportunity in one of Los Angeles' most desirable neighborhoods.
Presented By: Filip Niculete with Marcus & Millichap;
Interior Features for 10611 Landale Street
Bedrooms
Total Bedrooms5
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths5
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Fireplace Y/NNo
Heating Y/NNo
Total Stories
General for 10611 Landale Street
Additional Parcels Y/NNo
Attached Garage No
Cap Rate4.57
Carport Y/NNo
CityNorth Hollywood
CountyLos Angeles
Days on Market
DirectionsLandale & Cahuenga
Electric On Property Y/NNo
Full Baths
Garage Y/NNo
Gross Income115872.0
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne
Lot Size Square Feet9922.0
Lot Size UnitsSquareFeet
MLS AreaTUL - Toluca Lake
MobileHomeRemainsYNNo
Net Operating Income73115.0
New ConstructionNo
NumberOfUnitsTotal5
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories1
View Y/NNo
Waterfront Y/NNo
Year Built1951
ZoningLAR3
Exterior for 10611 Landale Street
Building Area Total4114.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.2278
Lot Size Area9922.0
Number of Buildings1
Open Parking Y/NNo
SpaNo
Total Parking0.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480