10932 Bloomfield St, Toluca Lake, CA 91602

Property Description

Hard to find, one of a kind, 8 unit, NON RENT CONTROL building in Toluca Lake, 5-10 minutes from Warners, Universal or CBS Studio City. South of Moorpark and east of Vineland. 7 units are occupied with seasoned tenancies. Unit 8--the condo quality 3 BR/2BA--was recently renovated after a 17 year tenancy, last rented at $1925.00. The owner has upgraded this unit with renovated bathrooms, a new kitchen with shaker style cabinets, new appliances, granite countertops and new flooring. It is a light filled, spacious unit with good privacy. This is the perfect situation for those buyers with a long term investment strategy who would also like to own a home in Toluca Lake with great potential and tax advantages. With 1/3 down, a buyer could live rent free in the 3 BD/2BA and collect $7750.00 in rent from the other 7 units to pay PITI, and still have some cash flow. If the buyer decides to rent out the 3BR/2BA instead, the projected $2300.00 rent would increase the income to $10,050.00 monthly, which is a great cash flow plus a high percentage return on the cash down payment. It's a win-win situation. This non-rent controlled building is to have and to hold for a long term. SHOWN BY APPOINTMENT ONLY-Don't walk this property. Price: $1,495,000. See remarks.