Marcus & Millichap is pleased to announce the sale of 10810 Sarah Street, a 10-unit multifamily property in prestigious Toluca Lake, CA, that is on the market for the first time in over 45 years. Situated on a corner lot with brand new multifamily construction underway on two adjacent blocks, the property benefits greatly from its location in one of the most desirable neighborhoods of the San Fernando Valley.
Located near the intersection of Riverside Drive and Lankershim Boulevard, the property is just over one mile from the fine dining and upscale shopping destinations along Ventura Boulevard. One mile to the east is the city of Burbank, while the trendy NoHo Arts District is only a few blocks away along Lankershim Boulevard. Studio City, Universal City, and Sherman Oaks are also all within a short distance, which helps to attract higher-paying tenants to the property.
The two buildings occupy one parcel, which also contains an abundance of open parking, with 17 spaces for the 10 units. There is a common BBQ area, while select units also have their own private patio. Both buildings feature pitched roofs, while the new water heater was just installed in 2017. Select apartment interiors include amenities such as ceramic tile and wood laminate flooring, with skylights and high cathedral ceilings in upstairs units. The onsite laundry room contains machines owned by the landlord, which maximizes the flow of additional income.
