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    5222-& 5228 Hermitage Ave

    Valley Village, CA 91607
    • $7,700,000
    • STATUS: Active
    • ON SITE: 137 Days
    • ID#: 21-747930
    UPDATED: 45 min ago
    $7,700,000
    • 34
      BEDS
    • 0.52
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 18,009
      SQFT
    • $428
      $/SQFT
    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 the Combined LA/Westside Multiple Listing Service as of 2021-10-27T21:42:45.78. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.randyplaice.com/homes/118154834
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    5222-& 5228 Hermitage Ave Valley Village, CA 91607

    • Price: $7,700,000
    • Status: Active
    • Updated: 45 min ago
    • ID#: 21-747930
    34
    Beds
    0
    Baths
    0
    ½ Baths
    0.52
    Acres
    18,009
    SQFT
    $428
    $/SQFT
    1970
    Built
    Neighborhood:
    Valley Village
    County:
    Los Angeles
    Area:
    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%.
    Exterior Features

    Lot Size Area 22850 Other Structures None Parking Garage Other Total Parking 20

    Interior Features

    Baths Total 33.00 Cooling Other Equipment Other Heating Other

    Property Features

    Gross Income 450491 Gross Operating Income 436977 Like Units1 1 Like Units2 5 Like Units3 13 Like Units4 1 Net Operating Income 267386.00 Number Of Buildings 2 Number Of Units 20 Sale Type Standard Source Living Area Other Source Lot Size Area Other Total Annual Expense 173091 Type Of Units Units Year Built Source Vendor Enhanced Zoning Lar3

    Listing provided courtesy of Filip Niculete DRE#01905352 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-27T21:42:45.78. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Randy Plaice and Associates | RE/MAX Gateway
    27720 Dickason Drive
    Valencia CA, 91355