10944 Bluffside Drive,  Studio City CA, 91604 (Residential Income)

20,628 sqft
Status: Active
MLS#: SR16721876
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Last Updated: 12/8/2016 11:41 AM
Description for 10944 Bluffside Drive Studio City, CA 91604
First time Offered for Sale by Developer Owners! Prime Studio City Location just steps from Ventura Blvd. Rare Opportunity to acquire a classic Hacienda style 40 unit Apartment Building on R-4 High density property. This Complex was built in 1983 and is NOT subject to Rent Control allowing for significant and immediate rental upside. Well maintained and freshly painted this building features 40 Studio/Jr 1 Bedroom units which are ALWAYS in HIGH DEMAND and FULLY RENTED. Present Owners have extensively remodeled 16 of the 40 units in the last 120 days proving new rent rates and high demand. Upgrades included new paint, new wood floors, new tiled floors in Kitchen and Bath, new bathrooms and more. All units have full kitchens with refrigerator, freestanding gas stove, microwave, stainless steel sink, garbage disposal and breakfast bar. Most units have gas fireplaces and nearly half have patios or balconies. Low maintenance Building keeps expenses down. Community laundry on premises. Close to all Major Studios, Freeways and Metro. A “Once in a Life time” offering.
Price
$15,250,000
Los Angeles
20,628 (approx)
SR16721876
Active
Description
First time Offered for Sale by Developer Owners! Prime Studio City Location just steps from Ventura Blvd. Rare Opportunity to acquire a classic Hacienda style 40 unit Apartment Building on R-4 High density property. This Complex was built in 1983 and is NOT subject to Rent Control allowing for significant and immediate rental upside. Well maintained and freshly painted this building features 40 Studio/Jr 1 Bedroom units which are ALWAYS in HIGH DEMAND and FULLY RENTED. Present Owners have extensively remodeled 16 of the 40 units in the last 120 days proving new rent rates and high demand. Upgrades included new paint, new wood floors, new tiled floors in Kitchen and Bath, new bathrooms and more. All units have full kitchens with refrigerator, freestanding gas stove, microwave, stainless steel sink, garbage disposal and breakfast bar. Most units have gas fireplaces and nearly half have patios or balconies. Low maintenance Building keeps expenses down. Community laundry on premises. Close to all Major Studios, Freeways and Metro. A “Once in a Life time” offering.
Listing Information
Property Type: Cluster, Spanish, 1 Story
0.61 Acres 2,694,900 sq.ft. 20,628 (approx)
$739.29 1983
1 Stucco
P & G
40 Total
Neighborhood
Room Information
Common
Bathtub, Low-Flow Shower, Low-Flow Toilet
Interior Features
Garbage Disposal, Gas Range/Cooktop, Microwave, Refrigerator, Carbon Monoxide Detector
Carpet and Other, Ceramic Tile, Hardwood Laminate
Heat Pump, Ceiling Fan(s)
Heat Pump
Full Copper Plumbing
Gas Burning
Alarm -Smoke/Fire,
Mirrored Closet Door(s), Laminate Counter, Open Floor Plan, Window Blinds, Window Drapes-curtains
Exterior / Lot Features
40 Parking Spaces, Assigned Parking Space, Covered, Uncovered, On Site, Side by Side
Stucco
Balcony
Composition, Spanish Clay Tile
None
No Pool
180 X 150
LAR4
Sidewalks, Street Lights, Sliding Glass Door, Curbs Walk
Driving Directions
North of Ventura and East of Vineland across for Avalon
Financial Considerations
2366022059
$714,120 Income ,$267,386Expense
Listing Price History

Studio City Real Estate

Studio City is located in California. Studio City, California 91604 has a population of 28,323.

The median household income in Studio City, California 91604 is $87,020. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in Studio City 91604 is 39.5 years.

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