Property Details

Price $1,550,000

Year Built 1931

# of Units 5

Price P/ Unit $310,000

Sq. ft. 3,588 SF

Price p/ Sq. ft. $432

Current Cap Rate 15.95%

Proforma Cap Rate 3.87%

Lot Size 7,773 SF

Zoning LAR3

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About the Property

10763-65 Kling Street, five maintained units in the family-friendly Toluca Lake submarket. Situated just West of Lankershim Blvd, the subject property is located minutes from the heart of the North Hollywood Arts District. This perfect owner-user investment property is comprised of (1) 2-bdrm. and 2-bath single-family residence and (4) 1-bdrm. units in a two-story back building. Please note, the SFR and (1) 1-bdrm. unit will be delivered VACANT upon COE. 10763 Kling presents the perfect value-add opportunity as current rents are approx. 29% below market compared to renovated units in the area. Property amenities include on-site laundry (for the front house), communal back yard, five parking spaces and each unit is separately metered for gas and electricity.

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