10814-10818 Blix St
- Toluca Lake Near Three Major Studio Lots
- Assigned Parking for Every Apartment
- Two-Bedroom House With Private Outdoor Space
- Recent Turnover and Updated Interiors
- Additional Income and Utility Recovery
- Further Rent Potential
Property Description
The LAAA Team of Marcus & Millichap is pleased to present 10814-10818 Blix Street, an 18-unit apartment property in Toluca Lake with three buildings, a front house and an assigned parking space for every apartment. Set on a 19,496 square foot lot near the Universal, Warner Bros. and Disney studio lots, the property combines rental income with the character and outdoor space of a smaller residential community. The front of the property is a 1916 duplex. Its street-facing residence is a 1,100 square foot two-bedroom house with a private patio and its own laundry, leased at $3,795 a month through September 30, 2028, increasing to $3,900 on October 1, 2027, with a one-bedroom residence behind it. The two-story apartment buildings from 1950 and 1953 complete the mix of seven studios, nine one-bedrooms and two two-bedrooms. A motor court provides 18 assigned parking spaces, and a garden patio with tables and seating gives residents shared outdoor space. Selected apartment interiors feature updated kitchens with white cabinetry and granite counters, wood or plank flooring and updated bathrooms. Recent work includes tankless water heaters and selected flooring and appliance replacements. Eleven of the 16 occupied units on the August 2026 rent roll were leased since 2023. Much of the tenancy has therefore already turned over, giving the buyer income from recently re-leased apartments alongside the remaining opportunity in lower-rent units. Storage rentals and the shared laundry room generate income beyond apartment rent, while water and sewer reimbursements recover utility costs. These operating practices are already in place for the buyer to continue. The laundry room has two washers and two dryers, and a resident manager lives on site. The property is subject to the Los Angeles Rent Stabilization Ordinance, with all 18 units registered. Further rent potential remains in lower-rent apartments as they turn over and move toward supported market rents. The property offers a private investor or 1031 exchange buyer an established Toluca Lake rental operation with parking, updated apartment interiors and additional income sources, on 0.45 acres of R3-1 land in TOC Tier 3.
Key Property Information
| Listing Status: | Available |
|---|---|
| Property Types: | Apartment Buildings |
| Price: | $4,295,000 |
| No. of Units: | 18 |
| Cap Rate: | 6.30% |
| GRM /GIM: | 10.35 |
| Year Built: | 1950 |
| Building Size: | 9,435 Sq ft |
| Lot Size: | 0.45 Acres |
| Opportunity Zone: | No |
| Price per unit: | $238,611 |
Additional contacts
| Full name | Phone number | Email address |
|---|---|---|
| Glen Scher | 818-212-2808 | [email protected] |
| Filip Niculete | 818-212-2748 | [email protected] |
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Remax Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout