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7008 Encino Avenue

Lake Balboa, CA 91406

PRICE REDUCED

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-$145,000 (-7.65%)

$1,750,000

List Price

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bed Beds

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shower Baths

N/A sqft

straighten / sqft

1951

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Property Description

At a new price and an exciting GRM of 14.6, this fully rented three-unit property offers an excellent opportunity for those seeking to complete a 1031 exchange or acquire a high-income-generating asset in a prime residential neighborhood of Lake Balboa, conveniently located near the 405 and 101 FWYs just north of Encino. The property features a remodeled and extended 4-bed, 3-bath, 1,613 sq ft main house, a brand-new 3-bed, 2-bath, 1,200 sq ft detached ADU with a paid-off solar system, and a 1-bed, 1-bath, 345 sq ft JADU. In total, it offers 3,158 sq ft of living space with a combined 8-bed, 6-bath count on an 8,877 sq ft lot. Three units, each with its own address, private outdoor space, and in-unit laundry. The main house features an open floor plan with a spacious living room, a primary suite, and a junior suite. It boasts a brand-new kitchen equipped with white shaker cabinetry, quartz countertops, a walk-in pantry, and fully renovated bathrooms. The new detached ADU offers private outdoor space with palm trees, enclosed by a white vinyl fence. Inside, the open floor plan seamlessly connects the spacious living room to the new kitchen, featuring white shaker cabinetry and quartz countertops. The primary bedroom includes a large walk-in closet and a private bathroom with a tub. The newly completed JADU is located at the front of the property and features a living space, a well-sized bedroom with a wall-to-wall closet, and a kitchen with white shaker cabinetry and quartz countertops. The bathroom includes a tub and stackable laundry hookups. Recessed lighting, laminate floors, and double-paned windows are featured throughout all units. Nearby amenities include Lake Balboa Park, golf courses, an off-leash dog park, and a Sunday farmer’s market. With easy access to the 101 and 405 freeways and the Orange Line Busway, this property offers both convenience and a prime location. Don’t miss out on this exceptional investment opportunity—schedule your private tour today!

Listing Information

List Price $1,750,000
Status Active
MLS SR24124108
HOA $0
Type Residential Income
Subtype Single Family Residence
Year Built 1951
Lot Size 8,877
Structure Size N/A
DOM 165
Courtesy Of Berkshire Hathaway HomeServices California Properties
Listing Agent Arthur Aslanian DRE#01291836

Interior Features

Laundry Information
Location(s) Washer Hookup, Gas Dryer Hookup, Inside
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Flooring Information
Material Laminate
Fireplace Information
Features None
Additional Information
Additional Features Open Floorplan, Quartz Counters, Recessed Lighting, Primary Suite, Walk-In Pantry, Walk-In Closet(s)
Cooling Type
Cooling Type Central Air

Exterior Information

Other Structures
Structures Guest House

Maps

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$1,750,000

king_bed 8
shower 6
straighten 3,158
straighten 8,877
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straighten 1,929
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king_bed 3
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straighten N/A
straighten 8,094
7024 Andasol Avenue,

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king_bed 2
shower 2
straighten 1,499
straighten 40,417
17510 Sherman Way, #107,

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$3,300/month

king_bed 2
shower 2
straighten 1,514
straighten 24,011
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Listing information courtesy of: Arthur Aslanian, Berkshire Hathaway HomeServices California Properties . *Based on information from the Association of REALTORS/Multiple Listing as of Nov 30th, 2024 at 5:48 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.