$4,600,000 Price Analysis   ♡   Studio City, CA 91604 21 bed 11 bath 9,759 SqFt ($471/SqFt) 0.45 acre lot. Built 1949 Listed 2024-06-07, Taxes $29,295 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
We are honored to present a rare opportunity to purchase the stunning Historic-Cultural landmark #228
Trophy Laurelwood Apartments, two 10-unit apartment buildings (separate APN#'s) in the International style of refined modernism, designed by the master architect Rudolph Schindler. L ocated in ultra-prime Studio City, these buildings are adjacent to major studios and cultural hotspots. 11833 and 11837 Laurelwood Drive are a short distance from the 101 Ventura (1.1 miles) and 405 San Diego (4.9 miles) Freeways, providing easy access to exceptional employment, lifestyle and leisure options that make Studio City one of Los Angeles' premier neighborhoods/rental markets. Built in 1949 and designed by master architect R. M. Schindler, the property consists of two terraced 2-story buildings. Each building comprises a tremendous unit mix: one with 10 (2+1) units and the other with 9 (2+1) units and 1 (3+2) unit. Units feature thoughtful interior layouts that enhance the sense of space and modernity, with first-floor units offering huge private patios and second-floor units boasting large terraces on the roofs of the units below. First-floor units offer huge private patios and second-floor units boast large terraces on the roofs of the units below, enhancing the sense of space and modernity. Practical amenities include on-site carport parking, with 10 spaces available per building and separate water heaters and metering for gas and electric utilities.
Furthermore, the property's designation as a Los Angeles Historic-Cultural Monument with an existing Mills Act contract reduces property taxes in exchange for the owner committing to preserving the asset's architectural integrity. This A+ Studio City location North of the Boulevard provides unparalleled access to employment opportunities, such as the CBS studios within a block of the property and some of LA's iconic landmarks and culinary destinations, including the famous Sushi Row on Ventura Boulevard (0.2 miles) steps from the property. The nearby Carpenter Community Charter offers excellent educational opportunities, further enhancing the appeal for family-oriented tenants. Studio City, known for its strong demographics and limited competing luxury rental housing, vibrates with cultural and commercial vitality, fueled by its proximity to major entertainment and media hubs. Strategically located at the nexus of accessibility and architectural significance, this property stands as a prime asset in a vibrant and evolving market. It offers investors the potential for significant appreciation and robust returns (over 5.5% in-place CAP), bolstered by sustained high demand from tenants who are drawn to the area's dynamic lifestyle and the elevated experence of occupying a Schindler masterpiece. Additionally, the well-maintained asset presents an opportunity for further value creation through systematic enhancement of unit interiors as they turn over, which will attract tenants willing to pay premium rates for rentals that offer exclusive outdoor spaces and a connection to Southern California's architectural heritage, increasing the property's appeal in a high-demand rental market. Note: Property NEEDS to be sold with adjacent property
Presented by Matthew R. Kanner at
Keller Williams Realty Los Feliz.
Property MLS #24-401321 from TheMLSCLAW
Full Bathrooms: 11
Heating Features: Wall
Covered Spaces: 10
Garage Description: Carport
Parking Total: 11
Lot Size Source: Assessor
Lot Size Square Feet: 19395
Calculated Total Monthly Association Fees: 0
Number of Units: 10
Unit Features: 1 BedsTotal: 2, 1 BathsTotal: 1, 1 SquareFeet: 34200, 2 BedsTotal: 3, 2 BathsTotal: 2, 2 SquareFeet: 4400
County: Los Angeles
Cap Rate: 5.64
Directions: 11833 Laurelwood Dr is ideally situated in the heart of Studio City just just 0.2 miles north of Ventura Blvd and 0.4 mile east of Laurel Canyon Blvd.
Source Property Type: Residential Income
Area: Studio City
Source Neighborhood: Studio City
Parcel Number: 2369-027-010
Postal Code Plus 4: 3745
Zoning: LARD1.5
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $947,500 + $1,420,500 $2,368,000 | $29,295 |
| 2021 | $655,000 + $982,000 $1,637,000 | $20,860 |
| 2020 | $655,000 + $982,000 $1,637,000 | $21,257 |
| 2019 | $614,000 + $920,000 $1,534,000 | $19,625 |
| 2018 | $617,000 + $924,000 $1,541,000 | $19,814 |
| 2017 | $586,000 + $880,000 $1,466,000 | $18,825 |
| 2016 | $551,000 + $826,000 $1,377,000 | $17,601 |
| 2015 | $531,000 + $796,000 $1,327,000 | $17,007 |
| 2014 | $538,000 + $806,000 $1,344,000 | $17,647 |
| 2013 | $570,000 + $641,000 $1,211,000 | $16,094 |
| 2012 | $549,000 + $450,000 $999,000 | $13,923 |
| 2010 | $546,746 + $447,338 $994,084 | $13,833 |
| 2009 | $545,600 + $446,400 $992,000 | $13,315 |
| 2009 | $545,600 + $446,400 $992,000 | $13,315 |
| 2008 | $543,950 + $445,050 $989,000 | $12,977 |
| 2007 | $612,000 + $500,000 $1,112,000 | $14,205 |
$4,600,000
TheMLSCLAW
Listing removed 2018-10-19
$5,750,000
CRISNET
Sold 2012-12-28
$4,700,000
ITECH
Listed 2012-11-12
$4,500,000
ITECH
Listing removed 2008-08-31
$4,950,000
ITECH
Listing removed 2008-07-03
$5,950,900
ITECH
Listing removed 2008-07-02
$5,950,900
ITECH
Listed 2008-01-22
$4,950,000
ITECH
Listing removed 2007-02-17
$5,750,000
CRISNET
Listing removed 2007-02-17
$5,750,000
ITECH
Listed 2007-01-21
$5,950,900
ITECH
Listed 2006-12-27
$5,950,900
ITECH
Listed 2006-11-26
$5,750,000
CRISNET
Listed 2006-11-26
$5,750,000
ITECH
Listing removed 2006-07-25
$5,900,000
ITECH
Listed 2005-08-19
$5,900,000
ITECH
Sold 1984-09-28
$1,075,000
Public Record
Year Built: 1949
Levels: Two Level
Living Area Source: Assessor
Property Age: 75
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Assessor
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.