10763 Kling St
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The sale of 10763 Kling St highlights how owner-user assets in Toluca Lake can still move quickly when vacancy, layout, and location align. Despite several diligence-related obstacles, the property closed within 90 days of the listing agreement being signed.
Background
10763 Kling St is a 5-unit property located in Toluca Lake, positioned just west of Lankershim Blvd and approx. 1 mile from the NoHo Arts District. The submarket continues to attract long-term residents drawn to its residential character and proximity to major employment and cultural hubs.
The property consisted of a vacant 2-bdrm., 2-bath single-family home at the front of the lot and a 2-story rear building with 4 1-bdrm. units. This configuration made 10763 Kling St particularly well suited for an owner-user seeking to occupy the front house while maintaining rental income from the rear units.
Property amenities included on-site laundry serving the front residence, a shared backyard, 5 parking spaces, and separate gas and electric meters for each unit.
The seller was introduced through a referral from a financial advisor and was preparing for retirement, with the goal of completing a clean sale on a reasonable timeline rather than extending the process.
Result
Within 2 days of being listed on the MLS, a well-qualified buyer emerged and escrow opened in late January. While several diligence issues arose during the escrow period, all parties remained engaged and the transaction moved forward without interruption.
Escrow closed 60 days later at a purchase price of $1,505,000. From signing the listing agreement to closing, the sale of 10763 Kling St was completed in approx. 90 days, providing the seller with a timely and straightforward exit.
This one does exactly what it should:
clear asset, clear buyer, clear outcome.
Story Details
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10763 Kling St
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