A Rare and Remarkably Versatile Compound-Style Property | Just One Block West of Cahuenga Blvd. Tucked into a prime location at the corner of Magnolia Blvd. and Willow Crest Ave., this extraordinary property presents a rare opportunity to own two distinctive residences plus a beautifully appointed rec room, all thoughtfully arranged on one private lot. With separate addresses and multiple living spaces, the property offers exceptional flexibility for multigenerational living, extended family, guests, creative pursuits, or simply enjoying the luxury of having space for everyone. 5262 Willowcrest Ave. Built in 1954 and approximately 925 sq. ft., this inviting residence is positioned above a 2-car garage and combines mid-century character with comfortable modern living. A cast-iron wood-burning stove creates a warm focal point in the living room, complemented by genuine bamboo flooring throughout and central heating and air conditioning. Double-paned windows enhance comfort, while several original mid-century windows in the west-facing living room preserve the home's period character. The kitchen is beautifully accented by a distinctive copper range hood. Both bedrooms offer ceiling fans and mirrored-door closets, with one bedroom opening directly to a private outdoor deck. The original tiled bathroom adds timeless character, while a linen closet and separate coat closet provide welcome storage. 5261 Cahuenga Blvd. Originally built in 1948, this character-rich residence makes a dramatic impression with over 16-foot ceilings and an intriguing architectural layout. A charming staircase leads to a generous loft with its own closet, connecting to an upstairs bedroom with a half bath and access to the deck. The main-level bedroom features a queen-size wall bed, additional wardrobe storage and drawers, with a stacked washer and dryer cleverly incorporated into the closet. The hallway bathroom offers an extra-long tub/shower, Newport Brass fixtures, dimmable lighting and a built-in, hardwired ceiling stereo speaker, creating a wonderfully relaxing retreat. The living room centers around a gas fireplace, while the adjoining kitchen features custom solid-maple cabinetry, generously deep drawers for pots and pans, dishwasher, stove, built-in microwave and refrigerator with water line. A breakfast bar creates an easy connection between the kitchen and living room, perfect for casual dining and entertaining. Rec Room. A beautifully appointed and highly versatile space at ground level, featuring a beautiful bar, laundry system, mini-split heating and air conditioning, and a clever wall bed that converts into a desk for office use. Ideal as a private retreat, entertainment space, home office, guest area or creative studio. Between the two main residences, a spacious private patio creates an inviting outdoor setting for entertaining or relaxing. The property is enclosed by approximately 810-foot perimeter fencing, with landscape lighting enhancing privacy and creating a welcoming evening ambiance. Additional features include two newer Precision garage-door openers and the convenience of separate addresses for the two residences. The location adds another dimension to this exceptional offering, with Universal Studios Hollywood approximately 2.5 miles away, providing easy access to world-class entertainment, dining and attractions. Situated just one block west of Cahuenga Blvd., the property offers a wonderful balance of privacy, versatility and convenient access to the surrounding area. A property of this versatility and character is exceptionally difficult to find. Two individual homes, a beautifully appointed rec room, private outdoor spaces, garage parking and remarkable flexibilityall in a coveted location near Universal Studios. An extraordinary opportunity for those seeking a property that can adapt beautifully to a variety of lifestyles.