Toluca Plaza is a thirty nine unit apartment community in a prime Toluca Lake location. With tremendous frontage and visibility on Riverside Drive, the property is nicely situated East of Cahuenga Boulevard and West of Clybourn Avenue and rests on two corners. Built in 1971, the property is subject to rent control. There is an attractive unit mix of Fifteen One Bedroom/One Bath units, Twelve One Bedroom/One Bath plus Den units, Six Two Bedroom/Two Bath Units and Six Two Bedroom/One and a Half Bath Units.
Located in one of the most desirable pockets in the San Fernando Valley, Toluca Plaza easily attracts residents with its convenient and central location. It' s walking distance to plenty of shopping, dining and entertainment on Riverside Drive. Some notable Los Angeles destinations are close by such as Universal Studios, Warner Brothers Studios, Universal City Walk, Hollywood Bowl, Griffith Park and the Los Angeles Zoo. In addition, easy freeway access allows residents to get to Hollywood, Burbank and other major employment centers quickly.
Along with the highly desirable location, Toluca Plaza offers residents an array of amenities such as very spacious units, central air conditioning and heat, balconies, pool, fitness center, leasing office, controlled access, gated tuck under and carport parking and an onsite laundry facility.
Toluca Plaza is an extremely rare, value add opportunity to own a thirty nine unit building in a highly desirable location that has huge upside in rents as units turn. Properties of this quality and location rarely become available. This property has been with this current family for approximately 40 years.
