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At an exciting GRM of 14.6, this fully rented 3-unit property offers an excellent opportunity for those seeking to complete a 1031 exchange or acquire a high-income-generating asset in a prime residential neighborhood of Lake Balboa, conveniently located near the 405 and 101 FWYs just north of Encino. The property features a remodeled and extended 4-bed, 3-bath, 1,613 sq ft main house, a brand-new 3-bed, 2-bath, 1,200 sq ft detached ADU with a paid-off solar system, and a 1-bed, 1-bath, 345 sq ft JADU. In total, it offers 3,158 sq ft of living space with a combined 8-bed, 6-bath count on an 8,877 sq ft lot. Three units, each with its own address, private outdoor space, and in-unit laundry. The main house features an open floor plan with a spacious living room, a primary suite, and a junior suite. It boasts a brand-new kitchen equipped with white shaker cabinetry, quartz countertops, a walk-in pantry, and fully renovated bathrooms. The new detached ADU offers private outdoor space with palm trees, enclosed by a white vinyl fence. Inside, the open floor plan seamlessly connects the spacious living room to the new kitchen, featuring white shaker cabinetry and quartz countertops. The primary bedroom includes a large walk-in closet and a private bathroom with a tub. The newly completed JADU is located at the front of the property and features a living space, a well-sized bedroom with a wall-to-wall closet, and a kitchen with white shaker cabinetry and quartz countertops. The bathroom includes a tub and stackable laundry hookups. Recessed lighting, laminate floors, and double-paned windows are featured throughout all units. Nearby amenities include Lake Balboa Park, golf courses, an off-leash dog park, and a Sunday farmer’s market. With easy access to the 101 and 405 freeways and the Orange Line Busway, this property offers both convenience and a prime location. Don’t miss out on this exceptional investment opportunity—schedule your private tour today!
Property Type(s):
Single Family
| Last Updated | 1/3/2025 | Year Built | 1951 |
|---|---|---|---|
| Community | Lake Balboa | County | Los Angeles |
SCHOOLS
| School District | Los Angeles Unified |
|---|
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Disposal, Gas Range, Microwave, Water Heater |
| AREA | Lake Balboa |
| CONSTRUCTION | Stucco |
| EXTERIOR | Lighting |
| GARAGE | Driveway |
| HEAT | Central |
| HOA DUES | 0 |
| INTERIOR | Open Floorplan, Primary Suite, Quartz Counters, Recessed Lighting, Walk-In Pantry |
| LOT | 8877 sq ft |
| LOT DESCRIPTION | Back Yard, Front Yard, Landscaped, Level, Near Park, Near Public Transit, Rectangular Lot, Walkstreet, Yard |
| PARKING | Driveway |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| STYLE | Ranch |
| UTILITIES | Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected, Electric: Standard |
| VIEW DESCRIPTION | None |
| WATER | Public |
| ZONING | LAR1 |
Location
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Listed with Berkshire Hathaway HomeServices California Properties
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