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.)
Courtesy of Marcus & Millichap, Matthew Ziegler,
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Data last updated 10/7/22