Home Selling in Toluca Lake>Question Details

Greg, Home Buyer in 91423

Listing says Toluca Lake, Google Maps says N.Hollywood...

Asked by Greg, 91423 Sun Jul 6, 2008

I saw townhouse that I really liked in "Toluca Lake." However, Google maps says it's North Hollywood. I assume Google Maps is right (90602). I'm really interested in updating the townhouse and selling in 5-7 years. My question is, will a North Hollywood tag significantly affect resell value?

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Greg, to compliment Art's answer, the original boundaries of Toluca Lake proper were Cahuenga Blvd., Camarillo St., Clybourn Ave. and the L.A. river. As time went on several Burbank streets out to Pass Ave. (some say Hollywood way) have been included and considered "the Burbank side of Toluca Lake". Additionally, areas such as West Toluca Lake, Toluca Woods and Toluca Terrace have been designated over the years. To learn more about the history of the Village of Toluca Lake, feel free to click on the web reference, below.

Risa Liebster
Keller Williams Realty
818.397.9188
0 votes Thank Flag Link Tue Dec 8, 2009
Greg, Toluca Lake is a community, not a city. 75% of Toluca Lake falls on the Los Angeles side/North Hollywood (91602), while 25% falls on the burbank side (91505). Since the mls does not currently have a separate city/area designation for Toluca Woods or Toluca Terrace, agents can either list the property as Toluca Lake or North Hollywood. Most agents choose to post a listing as Toluca Lake to try and attract a larger pool of buyers.
That being said, there are many very nice pockets of North Hollywood that are truly up and coming. This is the best answer I could come up with without knowing the actual address or cross streets of the property. Good luck.
0 votes Thank Flag Link Wed Sep 9, 2009
As of last year, when I looked into this for a client of mine, all of Toluca Lake was technically North Hollywood. Some streets in Burbank are also considered Toluca Lake. It's the same thing with Valley Glen and Valley Village... they are all North Hollywood, just given different names to make them sound nicer and potentially increase property value. Another example... Lake Balboa is technically Van Nuys.

Toluca Lake is a great community and North Hollywood is definately up and coming, especially the Arts District. What will affect the the resale value when you are ready to sell will be the comparibles in the area.

Let me know if you need any more info.

Mary
Web Reference: http://MaryDigsLA.com
0 votes Thank Flag Link Sat Aug 23, 2008
You need to go based on tax rolls? Yes it depends on the 2 areas can effect the resale value HOWEVER all info. must be accurate OR you can be sued for misleading statements. http://www.lynn911.com
0 votes Thank Flag Link Sun Jul 6, 2008
Greg
It is interesting ot see the change in local markets, and North Hollywood is a great example. Toluca Woods, which is actually IN North Hollywood, is an up and coming place. IMHO Toluca Woods is not likley to catch up, but who ever thought North Hollywood would be the artsy town that it is becoming.

To put the purchase and sale into perspective, you are buying within a certain set of circumstances, including a strong buyer's market, low interest rates, and if the townhome is a "good deal" now, all things being equal, it will sell for a fair price in 5-7 years. The key is to look at your alternatives, the pros and cons of each, then go from there. Most homeowners should look at the purhcase from the point of view - Is this a good home for me, rather than, will this be a great investment. Other home buyers in the future will ook at the same criteria (design and upkeep of the building, nearby features, crime rate, etc.).

If you need help feel free to call 1-888-2084-2056.
0 votes Thank Flag Link Sun Jul 6, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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