11993 Laurelwood Dr

Studio City, CA, 91604

$3,900,000

$437 per ft²
$3,900,000
$437 per ft²
Active Under Contract
Active Under Contract
 - For Sale
beds
15 Beds
baths
13 Baths
carpenters-square
8,906 ft²
property_type
Multi-family
calendar
Built 1963
We are pleased to present 11993 Laurelwood Drive, a 10-unit* value-add opportunity located South of Ventura Boulevard in the sought-after neighborhood of Studio City, California. Constructed in 1963, the 8,906 square foot building sits on a 10,455 square foot lot. The building consists of (7) one-bedroom/one-bathroom units, (2) two-bedroom/two-bathroom units, and (1) two-bedroom/two-bathroom/den unit. The property features parking in both the front and rear of the property, multiple viewing decks with canyon views, courtyard setting with mature trees and laundry facilities. All the units are spacious and feature wood type flooring (select units), wall A/C units, dishwashers, garbage disposals, ample closet space.11993 Laurelwood Drive has a Walk Score of 88 (Very Walkable) as it is in very close proximity to trendy retail shopping, restaurants, cafes, grocery stores, and entertainment options along Ventura Boulevard. The property is also walking distance from CBS Studio Center, Trader Joes, Katsuya Sushi, and the Studio City Farmers Market. Conveniently located to the 101, 170, 405 and 134 freeways, tenants benefit by having easy access to all local regions within the greater Los Angeles area. This is a tremendous value add opportunity located in a higher barrier to entry market with significant rental upside as the current rents are approximately 33% below market. (*The property is currently operated as a 10-unit building. However, the original Certificate of Occupancy states that the building is 11-units. This provides a new owner the potential option of converting the building back to an 11-unit building. Buyer to conduct its own investigations related to such potential conversion.)
MLS® ID:
22-197101
Listed:
9/5/22
Updated:
10/7/22
Coldwell Banker Realty
Barry Dantagnan

Interior Features

Total Bedrooms
15
Total Bathrooms
13
Cooling
Wall/Window
Heating
Wall

Exterior/Building Features

Lot Size
10,455 ft² lot
Exterior Features
None

Other Property Details

Garage
No
Parking
Covered Parking
View
N
County
Los Angeles
Pool
No
Total Stories
2
Zoning
LAR3

Property History

Date
Event
Price
Value
9/22/22
Active Under Contract
-
-

 

Courtesy of Marcus & Millichap, Matthew Ziegler,
Listing Contact:  

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Barry Dantagnan shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 10/7/22

Coldwell Banker Realty
Barry Dantagnan
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