Multifamily

7422 Vineland Ave

7422 Vineland Ave, Sun Valley, CA 91352

Listing Price: $895,000

Cap Rate
3.00%
Number of Units
4
Price/Unit
$223,750
Price/Gross SF
$304.53
Gross SF
2,939

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase 7422 Vineland Avenue, a quadruplex in Sun Valley, situated at the border of the “Media Capital of The World,” Burbank, CA. Built in 1953, the building has significant value-add potential as current rents are approximately 55 percent below market, leaving significant upside on which the new owner may capitalize. The asset consists of two two-bedroom units and two one-bedroom units spread across nearly 3,000 square feet of living space. At the rear of the spacious 6,994 square foot lot are two parking garages, which may allow for conversion into an ADU and Junior ADU, per California’s new laws updated January 1, 2020 (Buyer to verify). Doing so could provide an investor a 50 percent increase in income-producing units, potentially adding a dramatic improvement to the income stream. The property also sits in a qualified Opportunity Zone, providing additional potential benefits to the new owner (Buyer to verify). Furthermore, an investor may take advantage of historically low interest rates for residential financing, as the property contains four units.Ideally located at the borders of both Burbank and North Hollywood, tenants benefit from their proximity to major employers like Warner Brothers Entertainment, Walt Disney Company, and Hollywood Burbank Airport. The NoHo Arts District is a short drive from the property, while residents enjoy easy access to the 5 and 170 Freeways. The Antelope Valley Metrolink Line is a short distance away, connecting the neighborhood to Glendale and Downtown Los Angeles. Sun Valley Magnet School is located just west of the property, while Vallarta Supermarkets, Home Depot, Planet Fitness, and several other retailers are within walking distance of the building. Residents living in Sun Valley enjoy the convenient access to these surrounding locations and amenities while still living in an affordable neighborhood.

Investment Highlights

  • Substantial Value-Add Opportunity – Current Rents Approximately 55 Percent Below Market
  • Potential to Convert Garages into Two Additional Units Under New California Laws (Buyer to Verify)
  • Located in a Qualified Opportunity Zone (Buyer to Verify)
  • Attractive Price Per Unit and Square Foot Compared to Recent Comparable Sales
  • Situated on Borders of Both Burbank and North Hollywood – Convenient Access to Major Employment Centers
  • Attractive Residential Financing Options Available with Low Interest Rates
  • Walking Distance to Vallarta Supermarkets, Home Depot, Planet Fitness, and Several Other Major Retailers

Exclusively Listed By

Listing Price: $895,000

Cap Rate
3.00%
Number of Units
4
Price/Unit
$223,750
Price/Gross SF
$304.53
Gross SF
2,939

Investment Highlights

  • Substantial Value-Add Opportunity – Current Rents Approximately 55 Percent Below Market
  • Potential to Convert Garages into Two Additional Units Under New California Laws (Buyer to Verify)
  • Located in a Qualified Opportunity Zone (Buyer to Verify)
  • Attractive Price Per Unit and Square Foot Compared to Recent Comparable Sales
  • Situated on Borders of Both Burbank and North Hollywood – Convenient Access to Major Employment Centers
  • Attractive Residential Financing Options Available with Low Interest Rates
  • Walking Distance to Vallarta Supermarkets, Home Depot, Planet Fitness, and Several Other Major Retailers

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase 7422 Vineland Avenue, a quadruplex in Sun Valley, situated at the border of the “Media Capital of The World,” Burbank, CA. Built in 1953, the building has significant value-add potential as current rents are approximately 55 percent below market, leaving significant upside on which the new owner may capitalize. The asset consists of two two-bedroom units and two one-bedroom units spread across nearly 3,000 square feet of living space. At the rear of the spacious 6,994 square foot lot are two parking garages, which may allow for conversion into an ADU and Junior ADU, per California’s new laws updated January 1, 2020 (Buyer to verify). Doing so could provide an investor a 50 percent increase in income-producing units, potentially adding a dramatic improvement to the income stream. The property also sits in a qualified Opportunity Zone, providing additional potential benefits to the new owner (Buyer to verify). Furthermore, an investor may take advantage of historically low interest rates for residential financing, as the property contains four units.Ideally located at the borders of both Burbank and North Hollywood, tenants benefit from their proximity to major employers like Warner Brothers Entertainment, Walt Disney Company, and Hollywood Burbank Airport. The NoHo Arts District is a short drive from the property, while residents enjoy easy access to the 5 and 170 Freeways. The Antelope Valley Metrolink Line is a short distance away, connecting the neighborhood to Glendale and Downtown Los Angeles. Sun Valley Magnet School is located just west of the property, while Vallarta Supermarkets, Home Depot, Planet Fitness, and several other retailers are within walking distance of the building. Residents living in Sun Valley enjoy the convenient access to these surrounding locations and amenities while still living in an affordable neighborhood.

Exclusively Listed By

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