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$5,495,000
Est. payment /mo
6 Beds
5 Baths
0.59 Acres Lot
UPDATED:
12/13/2024 06:59 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CV24227936
Bedrooms 6
HOA Y/N No
Lot Size 0.586 Acres
Property Description
NEW PRICE! Introducing a compelling investment opportunity in the highly sought after rental community of Valley Village: A 24-unit multi-family complex that exemplifies both quality and potential. The subject property boasts large living spaces with an average unit size of 915 square feet, for a total rentable square footage of 21,994 square feet, on a 25,500 square foot lot. The diverse unit mix includes one 2-Bedroom/2-Bathroom unit with a Den, four 2-Bedroom/1-Bathroom units, one 1-Bedroom/1-Bathroom unit with a Den, and eighteen 1-Bedroom/1-Bathroom units. Each apartment is individually metered for electricity and gas, facilitating easier utility management and cost distribution. Significant capital investments have been made to enhance the property's value and tenant experience. Recent improvements include; a newer roof with an additional layer of sealant applied in 2021, a resealed driveway, a modern solar hot water heating system, new electric sub panels installed in 2023, completion of soft story retrofitting in 2017, a replastered pool in 2010, and a new security entry system installed in 2020. Additionally, the property features copper plumbing throughout, ensuring durability and reduced maintenance concerns. Amenities such as an onsite laundry facility and gated private entry add to the propertys appeal, increasing desirability among prospective tenants. With a current 11.43 Gross Rent Multiplier and a 5.44% CAP rate, along with a potential 27% upside in rental income, this investment stands out in the market for its income-generating potential and strategic enh
NEW PRICE! Introducing a compelling investment opportunity in the highly sought after rental community of Valley Village: A 24-unit multi-family complex that exemplifies both quality and potential. The subject property boasts large living spaces with an average unit size of 915 square feet, for a total rentable square footage of 21,994 square feet, on a 25,500 square foot lot. The diverse unit mix includes one 2-Bedroom/2-Bathroom unit with a Den, four 2-Bedroom/1-Bathroom units, one 1-Bedroom/1-Bathroom unit with a Den, and eighteen 1-Bedroom/1-Bathroom units. Each apartment is individually metered for electricity and gas, facilitating easier utility management and cost distribution. Significant capital investments have been made to enhance the property's value and tenant experience. Recent improvements include; a newer roof with an additional layer of sealant applied in 2021, a resealed driveway, a modern solar hot water heating system, new electric sub panels installed in 2023, completion of soft story retrofitting in 2017, a replastered pool in 2010, and a new security entry system installed in 2020. Additionally, the property features copper plumbing throughout, ensuring durability and reduced maintenance concerns. Amenities such as an onsite laundry facility and gated private entry add to the propertys appeal, increasing desirability among prospective tenants. With a current 11.43 Gross Rent Multiplier and a 5.44% CAP rate, along with a potential 27% upside in rental income, this investment stands out in the market for its income-generating potential and strategic enhancements.
NEW PRICE! Introducing a compelling investment opportunity in the highly sought after rental community of Valley Village: A 24-unit multi-family complex that exemplifies both quality and potential. The subject property boasts large living spaces with an average unit size of 915 square feet, for a total rentable square footage of 21,994 square feet, on a 25,500 square foot lot. The diverse unit mix includes one 2-Bedroom/2-Bathroom unit with a Den, four 2-Bedroom/1-Bathroom units, one 1-Bedroom/1-Bathroom unit with a Den, and eighteen 1-Bedroom/1-Bathroom units. Each apartment is individually metered for electricity and gas, facilitating easier utility management and cost distribution. Significant capital investments have been made to enhance the property's value and tenant experience. Recent improvements include; a newer roof with an additional layer of sealant applied in 2021, a resealed driveway, a modern solar hot water heating system, new electric sub panels installed in 2023, completion of soft story retrofitting in 2017, a replastered pool in 2010, and a new security entry system installed in 2020. Additionally, the property features copper plumbing throughout, ensuring durability and reduced maintenance concerns. Amenities such as an onsite laundry facility and gated private entry add to the propertys appeal, increasing desirability among prospective tenants. With a current 11.43 Gross Rent Multiplier and a 5.44% CAP rate, along with a potential 27% upside in rental income, this investment stands out in the market for its income-generating potential and strategic enhancements.
Location
State CA
County Los Angeles
Area Valley Village (91607)
Zoning Assessor
Exterior
Pool Private
Building
Lot Description Sidewalks
Story 2
Others
Space Rent $2,118
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Listed by Kristopher German • RE/MAX 2000 REALTY
“If you're looking for a dedicated and knowledgeable real estate professional who will go above and beyond to help you achieve your goals, I'm here to serve you. Contact me today to learn more about how he can assist you with all your real estate needs.”
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