4651 Cahuenga Boulevard, Toluca Lake, California 91602

$13,000,000

Overview

Property ID: SR25063835

Apartment, Residential Income
Property Type

35.0
Garages

38043 Sqft
Area Size

1988
Year Built

Description

We are proud to represent this 39 unit property in Toluca Lake. The property was constructed in 1988. Its unit mix consists of (10) 1+1 units, (12) 1+2 units, (3) 2+1 units, and (14) 2+2 units. With a lot size of 7, 798 square feet, the property has a total of 38, 043 rentable square feet. There is substantial upside in existing rents and there is a 672 one bedroom one bath leasing office that is not being used that could potentially be converted to an ADU. The building features fireplaces, balconies, secured parking, central HVAC, a fitness center, outdoor BBQ and a pool. Third floor units have lofts. The building currently has 12 vacancies and are in rent ready condition and a new owner has the opportunity to completely update the units. Toluca Lake is a tranquil and friendly community, nestled between North Hollywood and Burbank. The neighborhood boasts a shopping district with excellent cocktail bars, sushi restaurants, and homey cafes and diners, all of which give it a manageable yet interesting atmosphere. Toluca Lake’s residential streets have a relaxed feel. The neighborhood’s residents also have quick access to the 134, 101, and 170 freeways.