The 9,000-pound concrete slab came sliding down Wednesday around noon in the 8100 block of West Gould Avenue.
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Laurel Canyon Boulevard was shut down between Hollywood Boulevard and Kirkwood Drive. It was not known when the closure would be lifted. The boulevard is a vital route for many commuters, and its closure puts pressure on alternate routes like Coldwater Canyon Drive.
Officials said the homeowner was currently out of the country, but people who were renting the home were inside when the incident happened. No one was injured, the fire department stated.
Los Angeles Department of Building and Safety engineers were on scene Thursday to evaluate the situation, but they left when the rain continued to fall.
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Residents who live up on the hill said the possibility of the ground crumbling during rain storms has been on their minds.
The home in question was red tagged. Department of Public Works officials said they are waiting on findings by the Department of Building and Safety before they can determine when residents will be allowed back in.
One home to the north and one home to the south were yellow tagged, and officials said those residents may stay in their homes but could not enter their backyards.