For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $2,555,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,498 sqft
Price per Sqft $464
MLS Listing ID SR17094032
Sold Date 09/06/17
HOA Y/N No
Year Built 2017
Property Description
A 2017 CONSTRUCTION ultra-luxury fourplex in Toluca Lake, the most sought after city in the Valley! At this point in time the property is still in the construction phase. Upon completion the four units will be the most upscale rentals in Toluca Lake. 10706 Camarillo will consist of two separate buildings housing four 3 bedroom, 2.5 bathroom units, two of which will be 3-story and two of which will be 2-story. The market rents will be $3,750, $3,750, $3,500 and $3,500. With these realistic rents in mind, the cap rate amounts to a whopping 5.57%! A return this high is unheard of in all of Los Angeles. Most properties transact at a 4% cap rate or less. This is a truly once in a lifetime opportunity to acquire a new construction fourplex (which is a rarity) with an astronomical rate of return (also remarkably rare!).
The developers have constructed this property with extreme attention to detail, making sure all units have top of the line appliances, well laid out floor plans and an overall building quality you won’t find anywhere else.
The building is situated on the border of Toluca Lake and the NoHo Arts District, which provides convenient access to the countless shops, restaurants and local hotspots in both neighborhoods.
Location
State CA
County Los Angeles
Area Tul - Toluca Lake
Zoning LAR3
Rooms
Ensuite Laundry Inside
Interior
Interior Features Balcony
Laundry Location Inside
Heating Central
Cooling Central Air
Flooring Laminate
Fireplace No
Appliance Dishwasher, Gas Cooktop, Gas Oven, Refrigerator, Tankless Water Heater, Dryer, Washer
Laundry Inside
Exterior
Garage Assigned, Door-Single, Garage, Tandem
Carport Spaces 4
Pool None
Community Features Street Lights, Suburban, Sidewalks
Parking Type Assigned, Door-Single, Garage, Tandem
Total Parking Spaces 8
Private Pool No
Building
Lot Description Level, Near Public Transit
Story 3
Entry Level Three Or More
Sewer Public Sewer
Water Public
Architectural Style Modern
Level or Stories Three Or More
New Construction Yes
Others
Senior Community No
Tax ID 2421017002
Security Features Security Gate
Acceptable Financing Submit
Listing Terms Submit
Financing Cash to New Loan
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Jessica Robertson • John Aaroe Group