Step through the gates of this exclusive, PRIVATELY GATED residence and discover a unique opportunity for MULTI-GENERATIONAL LIVING or RENTAL INCOME. Located in the highly desirable LAKE BALBOA on a 10,000+ square foot lot. The property features a charming MAIN HOUSE 2+1, along with a newly constructed, modern ADU 1+1.5, with a private entrance located above the two-car garage complete with its own address. The property also features a 1+1 with a separate entrance providing additional versatile living space. At the rear of the property, a generously sized WORKSHOP. Meticulously maintained this home boasts high-quality improvements, including brand-new electrical wiring, copper plumbing, and SEPARATE UTILITY METERS FOR ELECTRICITY, GAS AND YES WATER. Both the MAIN HOUSE and ADU are equipped with their own water heaters and AC units. There is approximately an additional 400 square feet that is not appearing in the assessor records, Buyer to Verify. Total square footage is approximately 2695. PRIME LOCATION - border of Encino - steps away Lake Balboa Park, Japanese Garden, Encino Farmers Market, golf courses, Metro, and Ventura Blvd entertainment and shopping. Less than 7 miles to CSUN and PIERCE COLLEGE. Listing agent Carolyne Gakic is related to the seller. EASY TO SHOW ANYTIME!