The Buildings:
This 18-unit apartment building is a standout property featuring three separate structures on an expansive 19,496 square foot lot. The units offer a versatile mix of studio, one-bedroom, and two-bedroom apartments, providing approximately 9,435 square feet of total living space. Additionally, the property includes 20 dedicated parking spaces, offering convenience and added value for tenants. With LAR3 zoning and TOC Tier 3 incentives, the property presents excellent potential for future development or redevelopment, making it an investor’s dream in the heart of Los Angeles.
Public Transportation and Desirable Demographics:
The property is ideally located just minutes from the North Hollywood Metro Station, which serves the Red Line subway and the Orange Line bus rapid transit. This ensures quick access to Downtown LA, Hollywood, and other major hubs, making it perfect for professionals, artists, and young families. The neighborhood’s artistic vibe and proximity to entertainment industries continue to attract a growing population of renters, making it an ideal spot for long-term rental income.
Property History:
This property has an intriguing history of strategic modifications that have maximized its potential over the decades:
1949: The front house was converted into two units, marking the beginning of the property’s evolution into a multi-family complex. 1961: The rear building, originally two units over garages, underwent a transformation. The garages were converted into four additional units on the first floor, creating a total of six units in the rear structure.
1983: The adjacent building at 10818 Blix Street was converted into seven units, plus the inclusion of three Studios, further expanding the property’s rental capacity.
Reason to Buy:
This 18-unit investment property offers tremendous upside potential through both rental income and redevelopment opportunities. With the added value of LAR3 zoning and TOC Tier 3, developers can explore expansion possibilities in a prime location with significant demand. Its proximity to entertainment, public transit, and major freeways, combined with 20 parking spaces, make this property a top choice for investors looking to maximize returns in a high-growth area of Los Angeles. Whether you’re expanding your portfolio or seeking a high-value redevelopment project, 10814 Blix Street is a rare find in the thriving Toluca Woods / North Hollywood market.
