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Multifamily

5451 Hermitage Ave

5451 Hermitage Ave, Valley Village, CA 91607

Listing Price: $3,750,000

Cap Rate
3.84%
Number of Units
11
Occupancy
95.0%
Price/Unit
$340,909
Price/Gross SF
$348.58
Gross SF
10,758

Investment Overview

Marcus & Millichap is proud to present this 11 unit apartment building in an excellent Valley Village location. Built in 1963, the property is subject to Los Angeles City rent control. There is an excellent unit mix of spacious units which include Three One-Bedroom/One-Bath Units; Three Two-Bedroom/Two-Bath Units; and Five Two-Bedroom/Two-Bath Units. Approximately six of the units have been renovated. The building has been upgraded to a fresh modern facade with wood detail, new roof and new exterior paint. This building includes expanded courtyard space and new landscaping with native California plants designed for low water usage. Two new 50 Gallon Bradford Water Heaters and new recirculating pump have recently been installed. Located just South of Burbank Boulevard and just West of Laurel Canyon, the property offers residents a very desirable location. Quick access to the 170 Freeway and just a few minutes from the NoHo Arts District, residents can easily get to plenty of dining, shopping and entertainment options nearby. With the easy freeway access to the 170, 101 and 134, plenty of employment opportunities in the neighboring cities are also a short drive away. Also within walking distance is the Laurel Canyon Station for the Metro Orange Line Busway. This opportunity is perfect for an investor looking for a recently renovated property with upside in rents as low paying units turnover. ***The LA City Soft Story Retrofitting work has recently been completed (Buyer to Verify)***

Investment Highlights

  • Excellent Valley Village Location
  • Significant Upside in Rents
  • Very Spacious One and Two-Bedroom Units
  • Six Nicely Renovated Unit
  • Walking Distance to Metro Orange Line Busway
  • LA City Soft Story Retrofitting Work Completed

Exclusively Listed By

Financing By

Multifamily

5451 Hermitage Ave

Listing Price: $3,750,000

Cap Rate
3.84%
Number of Units
11
Occupancy
95.0%
Price/Unit
$340,909
Price/Gross SF
$348.58
Gross SF
10,758

Investment Highlights

  • Excellent Valley Village Location
  • Significant Upside in Rents
  • Very Spacious One and Two-Bedroom Units
  • Six Nicely Renovated Unit
  • Walking Distance to Metro Orange Line Busway
  • LA City Soft Story Retrofitting Work Completed

Investment Overview

Marcus & Millichap is proud to present this 11 unit apartment building in an excellent Valley Village location. Built in 1963, the property is subject to Los Angeles City rent control. There is an excellent unit mix of spacious units which include Three One-Bedroom/One-Bath Units; Three Two-Bedroom/Two-Bath Units; and Five Two-Bedroom/Two-Bath Units. Approximately six of the units have been renovated. The building has been upgraded to a fresh modern facade with wood detail, new roof and new exterior paint. This building includes expanded courtyard space and new landscaping with native California plants designed for low water usage. Two new 50 Gallon Bradford Water Heaters and new recirculating pump have recently been installed. Located just South of Burbank Boulevard and just West of Laurel Canyon, the property offers residents a very desirable location. Quick access to the 170 Freeway and just a few minutes from the NoHo Arts District, residents can easily get to plenty of dining, shopping and entertainment options nearby. With the easy freeway access to the 170, 101 and 134, plenty of employment opportunities in the neighboring cities are also a short drive away. Also within walking distance is the Laurel Canyon Station for the Metro Orange Line Busway. This opportunity is perfect for an investor looking for a recently renovated property with upside in rents as low paying units turnover. ***The LA City Soft Story Retrofitting work has recently been completed (Buyer to Verify)***

Exclusively Listed By

Financing By

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