Offering

Offering Overview

The LAAA Team of Marcus & Millichap is pleased to present 10814-10818 Blix Street, an 18-unit apartment property in the Toluca Lake area of North Hollywood. The investment combines 8% rental upside on occupied units through turnover with water and sewer reimbursements, leased garages and storage, and shared laundry income. Rent increases remain subject to the Los Angeles Rent Stabilization Ordinance. The three-building property includes studios, one-bedroom apartments and two two-bedroom residences, including the front house. A common patio serves the apartments, while the two-bedroom front house has a private patio, its own laundry and two on-site parking spaces. These features complement the smaller apartment plans and give the property several distinct residential offerings within one asset. The 19,496-square-foot R3-1 lot also provides a long-term land opportunity. A phased redevelopment concept would replace the front duplex with an eight-unit building while retaining the rear apartments. The site is in TOC Tier 3, but the concept is not an approved project. Any redevelopment remains subject to feasibility, City approvals and applicable tenant protections and replacement obligations.

1. 01

   8% Rental Upside on Turnover. In-place rents on occupied units are below the modeled market rents; increases remain subject to the Los Angeles RSO.

2. 02

   Additional Income Sources. Water and sewer reimbursements, leased garages and storage, and shared laundry supplement apartment rents.

3. 03

   Long-Term Development Opportunity. A phased front-duplex redevelopment concept could retain the rear apartments. The concept is not approved and requires feasibility, City approval and tenant-replacement review.

4. 04

   Two-Bedroom Front House. Its own laundry, a private patio and two on-site parking spaces distinguish it from the apartment units.

5. 05

   Common Patio. Outdoor common space serves apartment residents in addition to the front house's private patio.

6. 06

   19,496-Square-Foot R3-1 Lot. Three buildings on approximately 0.45 acres in TOC Tier 3.