10116-10120 Riverside Drive
A ±12,040 SF mixed-use office and retail property on ±12,503 SF of land at the hard corner of Riverside Drive and Talofa Avenue, in the heart of the Toluca Lake Village retail core. Two buildings occupy the single parcel — 10116 Riverside Drive is three stories with at-grade parking and four office suites above; 10120 Riverside Drive is two stories with ground-floor retail and restaurant space and a 3,000 SF second-floor suite. The property is 100 percent leased across eight units totaling ±10,998 leasable square feet.
Twenty-three on-site parking spaces — a ratio of 1.91 per 1,000 square feet — are the single hardest attribute to replicate on this stretch of Riverside Drive, where the majority of buildings depend entirely on street and public parking. Rather than one tenant and one lease expiration, a buyer here owns eight separate income streams on a block where small suites rarely sit empty, with a controllable path to mark rents to market one suite at a time as leases roll.
- 100 percent leased across eight tenants — diversified in-place income with no lease-up risk
- Granular rent roll with staggered expirations; no single tenant controls the building’s income
- 23 on-site parking spaces at 1.91:1,000 SF — a rarity along the Village corridor
- Hard corner at Riverside Drive and Talofa Avenue with two street frontages and ±22,573 VPD
- Restaurant income anchored by Sushi Yuzu — 1,575 SF of ground-floor NNN space with sidewalk seating
- Efficient small-suite configuration from 726 to 3,000 SF, the size Toluca Lake demand consistently absorbs
- Trader Joe’s on the same block, alongside Sweetsalt, Hungry Crowd, Prosecco Trattoria, Red Maple, Forman’s Whiskey Tavern, and Bodega Malbec
- Mark-to-market upside with minimal capital exposure — NOI of $377,343 current to $425,263 pro forma (6.46% cap)
- Supply-constrained corridor boxed in by single-family neighborhoods; assets on this stretch rarely trade
- Draws from the Warner Bros., Universal, and Disney studio workforce and one of the highest-income residential pockets in the San Fernando Valley
