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- Residential Income - Triplex
- For Sale: $2,295,000
- Residential Income - Duplex
- In Escrow / Under Contract: $1,195,000
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Toluca Lake Multi-family Properties, Duplexes, Triplexes and Fourplexes
Toluca Lake is a neighborhood in the San Fernando Valley of Los Angeles County, California and is under a rent control ordinance. It straddles the cities of Burbank and Los Angeles and is 12 miles northwest of Downtown LA. There are several residential income rental properties along the private natural lake of the same name, which is fed by the Los Angeles River and maintained by neighboring property owners. According to the Los Angeles Times, the Los Angeles section of Toluca Lake is an affluent, domestically stable, well-educated, older-aged, low-density neighborhood of the city.
Political entities and others, such as the Greater Toluca Lake Neighborhood Council, each draw their own boundaries to suit specific needs. We have many duplex, triplex, fourplex and multifamily properties for sale in the general areas of Toluca Woods, Toluca Terrace and West Toluca Lake. The Toluca Lake Homeowners Association lies east of Cahuenga Boulevard and buyers and sellers should know that the Toluca Lake Property Owners Association includes only properties abutting the lake itself. Great news for residential income rental property buyers and sellers is that despite the high median household income of $73,111 and a high percentage of earners bringing in $125K or more, 62.2% of its population of 9,000+ are renters.
Nearly half of Toluca Lake residents have earned a four-year degree, a high figure for both the city and the county. The percentage of those residents with a master's degree or higher was large for the county. Smart areas to buy your next duplex, triplex or fourplex, the Los Angeles section of Toluca Lake is a part of the LA Unified School District and The Burbank section is within the Burbank Unified School District. Easily accessible, the nearest major airport is Bob Hope Airport, 6 miles away and Los Angeles International Airport, 29 miles away.
Notable selling points are that Toluca Lake is known for a California Point of Historical Interest located in Burbank: the oldest Bob's Big Boy restaurant in America. St. Charles Borromeo Church of North Hollywood is attended by various well-known Toluca Lake residents and has played host to several celebrity weddings and funerals, including the funerals of Bob Hope and Dorothy Lamour. Prospective tenants of your next residential income rental properties will like the many attractions that are minutes away, including Garry Marshall’s Falcon Theatre, Warner Brothers Studios, Universal Studios City Walk and the beautiful Griffith Park, the largest urban park in the United States.
Buyers and sellers of duplex, triplex and multifamily properties can boast that Toluca Lake is the home of many notable entertainment and celebrity personalities. It was also the site of the wedding reception for Ronald and Nancy Reagan. And perhaps you may want to consider a purchase of a residential income rental property for sale near a proposed development by NBCUniversal and the Thomas Properties Group.
Even more exciting than a star sighting, we hope to see your autograph on the dotted line amongst other celebrity owners of a multifamily investment property in Toluca Lake!
Also serving other Los Angeles County Cities.
This information was gathered from Wikipedia, tolucalakechamber.com and latimes.com
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