10139 Hillhaven Avenue is a three-unit multifamily property located in the Sunland-Tujunga submarket of Los Angeles. Originally built in 1949 with a substantial 1985 addition, the property offers investors a compelling value-add opportunity in a supply-constrained pocket of the northeast San Fernando Valley. With two of the three units currently vacant, the offering presents an unbeatable basis for buyers seeking near-term rental upside. The property encompasses approximately 4,080 square feet of building area on an 8,137 SF lot and features a unit mix of (1) 2BR/1BA front house, (1) 2BR/1.5BA unit with an enclosed balcony, and (1) 3BR/2.5BA townhouse-style unit that includes a private patio, a step-down den/bedroom, potential second kitchen area, and a full bath. A separate storage room includes its own kitchenette and half bath. These additions create a perfect opportunity for investors to increase the livable density by legalizing the storage unit and splitting the step down den space into separate units. Ownership has completed numerous capital improvements in recent years. The septic system was recertified in April 2026 following approximately $16,000 of capital work to the property’s seepage pits. The building has also seen electrical upgrades and water heater replacements completed in recent years (per LADBS permit records). The property offers 7 parking spaces, including 3 tuck-under carports plus additional uncovered stalls, along with an on-site laundry room not currently in use, separate gas meters, electric meters, and water heaters. Zoned R3, the site presents strong potential to expand the building from 3 units to 4 or 5 units (Buyer to Verify), providing an avenue for future expansion and increased cash flow. Given the property’s elevation, the septic engineer has indicated that additional units may bypass connection to the city sewer system, further supporting redevelopment feasibility (Buyer to Verify). [Disclaimer: County Assessor records reflect 5 units on the property. However, the property’s certificate of occupancy reflects 3 units. Unit A is configured as a 2BR/1.5BA townhome-style unit with an attached bonus studio, bringing its effective layout to 3BR/2.5BA. The bonus studio was originally a separate studio unit that has since been connected to and merged with Unit A. Additionally, a storage room on the property was previously configured as a studio unit and has since been re-converted to storage use.]