Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 12264 Chandler Boulevard, a four-unit multifamily property consisting entirely of large two- and three-bedroom apartments in Valley Village, CA. With 6,442 rentable square feet, the property features extremely spacious floorplans as the two-bedroom apartments average approximately 1,200 square feet each. The three-bedroom owner’s unit, spanning approximately 2,500 square feet, may be delivered vacant at the close of escrow. Most unit interiors have been remodeled with new laminate wood flooring, new granite countertops, new stainless steel appliances, and remodeled bathrooms. The building also features copper plumbing, a new roof, central air/heat for all units, and a new water heater. There may be an opportunity for an owner to redevelop the property in the future, as the 7,397 square foot lot is zoned LAR3 and features the additional benefit of being located in a Tier 3 TOC zone. It may be possible to construct 17 new units on the lot (Buyer to verify), allowing for multiple possible exit strategies with the investment. Situated along Chandler Boulevard, one of the more prestigious streets in the San Fernando Valley, the property offers excellent visibility as well as convenient access to area amenities. The North Hollywood Metro Station, a hub connecting both the Metro Red Line and the Orange Bus Line, is only 1.4 miles east of the building. This is also the site of a proposed $1 billion mixed-use development containing approximately 22 million square feet of retail, restaurant, office, and residential space. The new NoHo West mixed-use development, featuring a Trader Joe’s, Nordstrom Rack, Regal Cinema, LA Fitness, and several other shops and restaurants along with a 644-unit multifamily development is just 1.5 miles from the property. Tenants can venture to the NoHo Arts District, Westfield Fashion Square, or world famous Ventura Boulevard, which are each within convenient driving distance.