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10611 Landale Street

North Hollywood, CA 91602

PRICE REDUCED

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-$105,000 (-6.56%)

$1,495,000

List Price

5

bed Beds

5

shower Baths

4,114 sqft

straighten / sqft

1951

calendar_month Built

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.

Listing Information

List Price $1,495,000
Status Pending
MLS 24447451
Type Residential Income
Year Built 1951
Lot Size 9,922
Structure Size 4,114
DOM 34
Courtesy Of Marcus & Millichap
Listing Agent Filip Niculete DRE#01905352
Co-Listing Agent Glen Scher DRE#01962976

Interior Features

Total Bedroom
Bedrooms 5
Total Bathroom
Bathrooms 5

Exterior Information

Maps

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Listing information courtesy of: Filip Niculete, Glen Scher, Marcus & Millichap 818-212-2817. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 13th, 2024 at 7:43 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.