4441 Forman Avenue, Toluca Lake, California 91602, Toluca Lake, 91602 - 6 bed, 4 bath
ACTIVE$3,895,000
4441 Forman Avenue, Toluca Lake, California 91602
6Beds
4Baths
4,166Sqft
7,599Lot
Year Built
1948
Close
-
List price
$3.9M
Original List price
$3.9M
Price/Sqft
$935
HOA
-
Days on market
-
Sold On
-
MLS number
25539781
Home ConditionPoor
Features
View
About this home
Possibly Over-Priced:The estimated price is 33% below the list price. We found 3 Cons,6 Pros. Rank: price - $3.90M(86th), sqft - 4166(92th), beds - 6(94th), baths - 4(63th).
This wonderful fourplex is sited in an excellent central location in beloved Toluca Lake near major studios, Universal City, parks, schools, and freeways, just moments to the Burbank Airport, Downtown LA, Hollywood, and the very best of the Valley and city.
Nearby schools
7/10
Toluca Lake Elementary School
Public,•K-5•0.7mi
7/10
Rio Vista Elementary School
Public,•K-5•0.9mi
8/10
R. L. Stevenson Elementary School
Public,•K-5•1.0mi
9/10
Theodore Roosevelt Elementary School
Public,•K-5•1.1mi
8/10
Valley View Elementary School
Public,•K-6•1.9mi
6/10
Walter Reed Middle School
Public,•6-8•1.9mi
5/10
David Starr Jordan Middle School
Public,•6-8•2.3mi
3/10
Hubert Howe Bancroft Middle School
Public,•6-8•4.5mi
6/10
Arroyo Seco Museum Science
Public,•K-8•9.2mi
3/10
East Valley Senior High School
Public,•9-12•1.6mi
6/10
Burbank Unified Independent Learning Academy (Buila)
Public,•7-12•1.8mi
7/10
Burroughs High School
Public,•9-12•2.0mi
8/10
North Hollywood Senior High School
Public,•9-12•2.2mi
6/10
Hollywood Senior High School
Public,•9-12•3.8mi
Condition Rating
Poor
Built in 1948, this property is over 75 years old. The listing explicitly notes its 'Advanced Age of Structure' and states it's 'likely requiring substantial investment in deferred maintenance, system updates (plumbing, electrical, HVAC), and cosmetic renovations.' The absence of interior images, particularly of the kitchen and bathrooms, strongly suggests these critical areas are outdated and in need of significant rehabilitation to meet current standards and appeal. While the exterior appears maintained, the overall condition points to a property requiring substantial repairs and updates across major systems and aesthetics.
Pros & Cons
Pros
Great Schools: Elementary School: Theodore Roosevelt Elementary School (9/10).
Prime Investment Opportunity: As a fourplex in a highly desirable Toluca Lake location, this property offers significant income-generating potential and long-term appreciation for investors.
Exceptional Location & Accessibility: Strategically located near major studios (Universal City), Burbank Airport, Downtown LA, Hollywood, and freeways, ensuring high tenant demand and convenience for residents.
Substantial Property Size: With 4166 sqft across 6 beds and 4 baths, it provides ample space for multiple units, appealing to a wide range of potential tenants seeking spacious accommodations.
Desirable Toluca Lake Neighborhood: Situated in a 'beloved' community known for its stability, amenities, and strong rental market, enhancing its appeal and value.
Proximity to Quality Schools: Access to several highly-rated public schools (e.g., Valley View Elementary, R. L. Stevenson Elementary, Theodore Roosevelt Elementary) enhances its appeal to families.
Cons
Significant Valuation Discrepancy: The listing price of $3.895M is 33% higher than the estimated property value of $2.589M, which could indicate overpricing and challenge buyer financing or market acceptance.
Advanced Age of Structure: Built in 1948, the property is over 75 years old, likely requiring substantial investment in deferred maintenance, system updates (plumbing, electrical, HVAC), and cosmetic renovations to maximize rental income and appeal.
Limited Property Details: The description provides minimal details about the condition, layout, or specific amenities of the individual units within the fourplex, necessitating extensive due diligence for prospective buyers.