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Multifamily

Hermitage Court

5222-5228 Hermitage Ave, Valley Village, CA 91607

Listing Price: $7,700,000

Cap Rate
3.47%
Number of Units
20
GRM
17.09
Occupancy
97.0%
Price/Unit
$385,000
Price/Gross SF
$427.56
Gross SF
18,009

Investment Overview

Marcus & Millichap is 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 22,850 SqFt (0.52 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%.

Investment Highlights

  • Built in 1948 & 1970
  • Adjacent Properties: 14 Unit & 6 Unit
  • Great Valley Village Location 85 Walk Score

Exclusively Listed By

Financing By

Listing Price: $7,700,000

Cap Rate
3.47%
Number of Units
20
GRM
17.09
Occupancy
97.0%
Price/Unit
$385,000
Price/Gross SF
$427.56
Gross SF
18,009

Investment Highlights

  • Built in 1948 & 1970
  • Adjacent Properties: 14 Unit & 6 Unit
  • Great Valley Village Location 85 Walk Score

Investment Overview

Marcus & Millichap is 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 22,850 SqFt (0.52 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%.

Exclusively Listed By

Financing By

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