$ 1,550,000
10611 Landale ST North Hollywood, CA 91602
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$ 1,550,000
Est. payment /mo
Price Dropped by $50K
10611 Landale ST North Hollywood, CA 91602
5 Beds
5 Baths
4,114 SqFt
UPDATED:
10/23/2024 09:37 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,114 sqft
Price per Sqft $376
MLS Listing ID 24447451
Bedrooms 5
HOA Y/N No
Year Built 1951
Lot Size 9,922 Sqft
Acres 0.2278
Property Description
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.
Location
State CA
County Los Angeles
Area Tul - Toluca Lake
Zoning LAR3
Interior
Fireplace No
Building
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 2423003011
Special Listing Condition Standard
Listed by Filip Niculete • Marcus & Millichap
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