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    11230 Camarillo St

    WEST TOLUCA LAKE, CA 91602
    • $8,390,000
    • STATUS: Active
    • ON SITE: 56 days
    • ID#: 20-643118
    UPDATED: 22 min ago
    $8,390,000
    • 21
      BEDS
    • 0.34
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 19,473
      SQFT
    • $431
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1984
    County:
    Area:

    School Ratings & Info

    Description

    Built in 1984, the property is not subject to Los Angeles rent control, instead allowing for higher annual rent increases. This is particularly beneficial to the new owner, who can more rapidly capitalize on the approximately 45% upside in rents. Current rents for unrenovated units average only $1.82 per square foot, while renovated units are achieving approximately $2.52 per square foot. Through the current owner's implementation of a successful value-add strategy, rents for the three renovated units generate an additional $1,062 per month above the average rent for an unrenovated unit. The attractive unit mix includes spacious floorplans, with half of the units featuring large lofts and high ceilings. Apartment interior amenities include central air and heating, wood flooring, fireplaces, private patios/balconies, and stainless steel appliances.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-12-03T21:42:36.11. 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.
    www.trulinerealty.com/homes/110760464
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    11230 Camarillo St WEST TOLUCA LAKE, CA 91602

    • Price: $8,390,000
    • Status: Active
    • Updated: 22 min ago
    • ID#: 20-643118
    21
    Beds
    0
    Baths
    0
    ½ Baths
    0.34
    Acres
    19,473
    SQFT
    $431
    $/SQFT
    1984
    Built
    Neighborhood:
    Toluca Lake
    County:
    Los Angeles
    Area:
    Toluca Lake
    Property Description
    Built in 1984, the property is not subject to Los Angeles rent control, instead allowing for higher annual rent increases. This is particularly beneficial to the new owner, who can more rapidly capitalize on the approximately 45% upside in rents. Current rents for unrenovated units average only $1.82 per square foot, while renovated units are achieving approximately $2.52 per square foot. Through the current owner's implementation of a successful value-add strategy, rents for the three renovated units generate an additional $1,062 per month above the average rent for an unrenovated unit. The attractive unit mix includes spacious floorplans, with half of the units featuring large lofts and high ceilings. Apartment interior amenities include central air and heating, wood flooring, fireplaces, private patios/balconies, and stainless steel appliances.
    Exterior Features

    Lot Size Area 14697 Other Structures Other Parking Garage Garage Is Attached Total Parking 0

    Interior Features

    Baths Total 29.00 Cooling Air ConditioningCentral Equipment Other Heating Central

    Property Features

    Assessed Total Value 2595871 Gross Income 418920 Gross Operating Income 419416 Like Units1 8 Like Units2 11 Like Units3 5 Net Operating Income 241614.00 Number Of Buildings 1 Number Of Units 24 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Estimated Total Annual Expense 177803 Type Of Units Residential Year Built Source Assessor Zoning Lar3

    Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-12-03T21:42:36.11. 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.
     
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    TruLine Realty
    8644 Wilshire Blvd. Suite 204
    Beverly Hills CA, 90211