Los Angeles, Residential Income – 10944 Bluffside Dr, Studio City, CA 91604, USA -001-11-30T00:00:00-08:00
Huge Reduction! First time Offered for Sale by Developer Owners! Prime Studio City Location just steps from Ventura Blvd. Rare Opportunity to acquire a classic Hacienda style 40 unit Apartment Building on R-4 High density property. This Complex was built in
10944 Bluffside Dr, Studio City, CA 91604, USA
$13,750,000 USD
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Address10944 Bluffside Drive, Studio City
Price$13,750,000
Price Changed9.83% (-$1,500,000, 101 days ago)
Year Built1983
Bedrooms Total0
Living Area20,628 ft2
Lot Size (Sq.Ft.)26,949
Listing IDSR16721876
StatusActive
Parcel Number2366022059
ZoningLAR4
Special ConditionsStandard
Days on Market255

Detailed Description: Huge Reduction! First time Offered for Sale by Developer Owners! Prime Studio City Location just steps from Ventura Blvd. Rare Opportunity to acquire a classic Hacienda style 40 unit Apartment Building on R-4 High density property. This Complex was built in 1983 and is NOT subject to Rent Control allowing for significant and immediate rental upside. Well maintained and freshly painted this building features 40 Studio / Jr 1 Bedroom units which are ALWAYS in HIGH DEMAND and FULLY RENTED. Present Owners have extensively remodeled 22 of the 40 units proving new rent rates and high demand. Upgrades included new paint, new wood floors, new tiled floors in Kitchen and Bath, new appliances, new bathrooms and more. All units have full kitchens with refrigerator, freestanding gas stove, microwave, stainless steel sink, garbage disposal and breakfast bar. Most units have gas fireplaces and nearly half have patios or balconies. Low maintenance Building keeps expenses down. Community laundry on premises. Close to all Major Studios, Freeways and Metro. A “Once in a Life time” offering.

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Pool Private
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Address Information
Address10944 Bluffside Drive, Studio City
Street SuffixDrive
CityStudio City
Location (MLS Area)STUD – Studio City
County Or ParishLos Angeles
State or ProvinceCA
Postal Code91604
Postal Code Plus43357
CountryUS
Financial Information
Price Changed-9.8361%
Previous Price$15,250,000
Price per Square Foot$666.57
Price per Lot Square Foot$510.22
Price per Unit$343,750
Tenant PaysCable TV, Electricity, Gas
Special ConditionsStandard
Total Expenses$252,401
Professional Management Expense$36,048
Operating Expense$252,401
Insurance Expense$7,287
Gardner Expense$3,360
Electric Expense$2,467
Water Sewer Expense$11,134
Workman\’s Compensation$1,561
Trash Expense$5,519
Maintenance Expense$14,419
Supplies Expense$500
Other Expense DescriptionMisc
Other Expense$2,000
Gross Operating Income$710,146
Gross Income$3,274
Gross Scheduled Income$720,960
Net Operating Income$457,745
Total Actual Rent$720,960
Vacancy Allowance$10,814
Gross Multiplier19%
Gross Spendable Income$461,019
Other Income DescriptionLaundry, Late Fees, Screening
Other Income 1$3,274
Tax Year2000
Tax Lot30
New Taxes Expense$163,900
Full Descriptions
Parcel Number2366022059
Detailed DescriptionHuge Reduction! First time Offered for Sale by Developer Owners! Prime Studio City Location just steps from Ventura Blvd. Rare Opportunity to acquire a classic Hacienda style 40 unit Apartment Building on R-4 High density property. This Complex was built in 1983 and is NOT subject to Rent Control allowing for significant and immediate rental upside. Well maintained and freshly painted this building features 40 Studio / Jr 1 Bedroom units which are ALWAYS in HIGH DEMAND and FULLY RENTED. Present Owners have extensively remodeled 22 of the 40 units proving new rent rates and high demand. Upgrades included new paint, new wood floors, new tiled floors in Kitchen and Bath, new appliances, new bathrooms and more. All units have full kitchens with refrigerator, freestanding gas stove, microwave, stainless steel sink, garbage disposal and breakfast bar. Most units have gas fireplaces and nearly half have patios or balconies. Low maintenance Building keeps expenses down. Community laundry on premises. Close to all Major Studios, Freeways and Metro. A “Once in a Life time” offering.
Lot FeaturesCul-De-Sac, Lot 20000-39999 Sqft, Lot Shape-Rectangular, Lot-Level / Flat, Near Public Transit, Sprinkler System
Community FeaturesCurbs, Sidewalks, Street Lighting
Architectural StyleSpanish
Interior FeaturesBalcony, Ceiling Fan, Copper Plumbing Full, Laminate Counters, Open Floor Plan
Flooring DescriptionCarpet, Tile, Wood
Foundation DetailsSlab
Window FeaturesBlinds, Drapes / Curtains, Screens
Room TypeSee Remarks
Door FeaturesMirrored Closet Doors, Sliding Glass Door (s)
Builder NameP and G
Water SourcePublic
Construction MaterialsStucco
Roof DescriptionFlat, Spanish Tile
Security FeaturesCarbon Monoxide Detector (s), Resident Manager, Smoke Detector
UtilitiesPhone Connected, Sewer Connected, Water Connected
Laundry FeaturesCommunity
Heating DescriptionHeat Pump
Cooling DescriptionHeat Pump
Appliances DescriptionGarbage Disposal, Gas Range, Gas Stove, Microwave, Refrigerator
Parking FeaturesAssigned, Covered Parking, Uncovered, On Site, Side by Side
Fireplace FeaturesGas, See Remarks
Common Walls Description2
View DescriptionNone
Direction FacesNorth
Pool FeaturesNone
Spa FeaturesNone
Road Surface TypeAlley Paved, Paved
Road Frontage TypeAlley Access, City Street
Property parameters
Year Built1983
Living Area (Sq.Ft.)20,628 ft2
Lot Size (Sq.Ft.)26,949
Lot Size SourceAssessor
Lot Size Dimensions180 x 150
Number of Buildings1
Number of Units Leased40
Number of Units Total40
ZoningLAR4
Stories Total2
Parking Spaces40
Uncovered Spaces37
LevelsOne
Carport Spaces3
Water SourcePublic
Units Total40
Year Built SourceAssessor
Laundry EquipmentLease
Vacancy Allowance Rate1.5%
Average Studio Area500 ft2
Number of Separate Electric Meters41
Number of Separate Gas Meters41
Number of Separate Water Meters1
Units with Carpet19
Units with Disposal40
Units with Patio21
Units with Refrigerator40
Cap Rate (For Cash Payment Only)3.4
Listed withEllen Model (Berkshire Hathaway HomeServic)