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10824 Morrison St

Toluca Lake Adj.
Fourplex

This charming 2018 construction fourplex is located in prime Toluca Lake Adj. on a quiet residential tree-lined street. At an unheard of low price of $2,649,000, you'll enjoy no rent control, a 4.82% cap rate, major upside, A+++ location, separate meters for all utilities, plentiful upside, and ideal floorplans! Plus, one unit will be delivered vacant- a dream situation for owner occupiers looking to live in an A+ neighborhood while having tenants cover most of the mortgage!

List Price:
Cap Rate:

GRM:

Bldg. Size:
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Highlights:

$2,649,000
4.82% (current)
5.13% (pro forma)
15.82 (current)
14.77 (pro forma)
4,666 sqft
1x 4b/35
1x 3b/2b
1x 2b/1.5b
Rare Toluca Lake Adj. location
Lowest price per door
No rent control
One unit vacant- owner occupy!
High cap rate
Premium floorplans

Major upside
Perfect 1031 exchange option
One 2-car & one 1-car garage
Five surface spaces
Countless balconies
Rear and front yard
Friendly, responsible tenants

Click to View Photos

The Neighborhood

>10-Minute Walk

Teapop, Ralphs, Idle Hour, The Habit, Little Toni's, Tiki No, HaHa Comedy Club, Miyako Sushi Bar, Urban Skillet,  Toluca Lake Elementary, Starbucks, NoBAR

>10-Minute Drive

Universal Studios, HaHa Comedy Club, Trader Joe’s, Sushi Yuzu, The Counter, Coffee Bean, Aeirloom Bakery, Catcher In The Rye, Ca Del Sole, Idle Hour, Sweetsalt Food Shop, Tiki No Bar

>$10 Uber Ride

Amazon Fresh, Starbucks, Patys, Lemonade, Something Vegan, Tocaya, Sweetgreen, Robeks, Veggie Grill, Bob’s Big Boy, Hanks Bagels, Priscilla’s, Mendocino Farms, Magnolia Park

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Submit your offers now!

  • Unbeatable Toluca Woods Adj./NoHo location just moments to an unlimited supply of restaurants, shops, businesses and more!

  • Lowest price per door of any new construction in NoHo!

  • One unit will be delivered vacant- a dream situation for owner occupiers looking to live in an A+ neighborhood while having tenants cover most of the mortgage!

  • Exceptional current cap rate of 4.82%, plus major upside. We project a conservative pro forma cap rate of 5.13%.

  • No rent control!

  • Property comes fully loaded with stainless steel kitchen appliances and washers and dryers!

  • Dream 1031 exchange opportunity. Ready to close ASAP!

  • All units separately metered for gas, electric AND water! Microscopic expenses!

  • With SB-8 in effect, we expect less fourplexes will be built, making properties like these an even more rare and hot commodity.

  • Friendly, outstanding tenants that all pay rent promptly and make ownership easy!

  • Large lot (6,600 SF)- allowing for a front and rear yard!

  • Features three garage spaces and five surface spots!

  • Sleek, modern units with open floorplans!