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    5222 & 5228 Hermitage Avenue

    Valley Village, CA 91607
    • $7,700,000
    • STATUS: Active
    • ON SITE: 106 days
    • ID#: 21747930
    UPDATED: 29 min ago
    $7,700,000
    • 0
      BEDS
    • 0.52
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1970
    County:

    School Ratings & Info

    Description

    We are pleased to present this 20-unit multifamily offering located at 5222-5228 Hermitage Avenue in Valley Village, CA. Built in 1948 & 1970, the properties sit on a combined lot size of 15,246 SqFt (0.35 Acres) and has a total building SqFt of 18,009. The properties also have an excellent and diversified unit mix with (1) Studio, (5) 1-Bed units, (13) 2-Bed units, and (1) 3-Bed unit, with an average unit size of 900 SqFt.Over the past 3 years, the Seller has spent a significant amount of money on interior renovations with 7 of the 20 units being fully renovated and re-leased at market rates, which leaves the remaining 13 units to be improved by the buyer. This offering is ideal for a value-add investor who wants to own a very well-located Valley Village property with the potential to increase the rental income by nearly 30%.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-26T23:25:07.223. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Kohler Group | Zutila. Licensed in the State of California, USA.
    www.buysocal.homes/homes/118169434
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    5222 & 5228 Hermitage Avenue Valley Village, CA 91607

    • Price: $7,700,000
    • Status: Active
    • Updated: 29 min ago
    • ID#: 21747930
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.52
    Acres
    1970
    Built
    Neighborhood:
    VVL - Valley Village
    County:
    Los Angeles
    Area:
    VVL - Valley Village
    Property Description
    We are pleased to present this 20-unit multifamily offering located at 5222-5228 Hermitage Avenue in Valley Village, CA. Built in 1948 & 1970, the properties sit on a combined lot size of 15,246 SqFt (0.35 Acres) and has a total building SqFt of 18,009. The properties also have an excellent and diversified unit mix with (1) Studio, (5) 1-Bed units, (13) 2-Bed units, and (1) 3-Bed unit, with an average unit size of 900 SqFt.Over the past 3 years, the Seller has spent a significant amount of money on interior renovations with 7 of the 20 units being fully renovated and re-leased at market rates, which leaves the remaining 13 units to be improved by the buyer. This offering is ideal for a value-add investor who wants to own a very well-located Valley Village property with the potential to increase the rental income by nearly 30%.
    Property Features

    Gross Income 450491 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 267386 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lar3

    Listing provided courtesy of Filip Niculete of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-26T23:25:07.223. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Kohler Group | Zutila. Licensed in the State of California, USA.
     
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    The Kohler Group | Zutila
    4000 Barranca Parkway #105
    Irvine CA, 92604