Description
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 LAKES MANY RESTAURANTS, STORES, ENTERTAINMENT AND IS CLOSE PROXIMITY TO THE RENOWN TOLUCA LAKESIDE COUNTRY CLUB. SUBMIT!
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0BEDS
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0.15ACRES
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0BATHS
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01/2 BATHS
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3,110SQFT
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$514$/SQFT
School Ratings & Info
Description
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 LAKES MANY RESTAURANTS, STORES, ENTERTAINMENT AND IS CLOSE PROXIMITY TO THE RENOWN TOLUCA LAKESIDE COUNTRY CLUB. SUBMIT!
Based on information from CRISNet MLS as of 2021-03-08T19:56:33.847. 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 by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
Based on information from the i-Tech MLS as of 2021-03-08T19:56:33.847. 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.