5451 Hermitage Ave
Valley Village, CA 91607
Multifamily Property For Sale
·
10 Units
Property Facts
| No. Units | 10 | Building Size | 10,758 SF |
| Property Type | Multifamily | Average Occupancy | 91% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1963 |
| Building Class | C | Parking Ratio | 0.93/1,000 SF |
| Lot Size | 0.31 AC | ||
| Zoning | LAR3 | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 10,758 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 0.93/1,000 SF |
| Zoning | LAR3 |
About 5451 HERMITAGE AVE , VALLEY VILLAGE, CA 91607
Marcus & Millichap is pleased to present a ten unit multifamily property located in Valley Village, California. Situated at 5451 Hermitage Ave, South of Burbank Blvd and just west of Laurel Canyon Blvd, the property is located in a great rental pocket of Valley Village. Built in 1963, this rent-controlled property boasts an excellent unit mix with 3 one-bed/one-bath units, 6 two-bed/two-bath units, and one very large 5-bed/2-bath townhouse owner's unit. Furthermore, three of the ten units will be delivered vacant. The current owners have been operating those three vacant units through Airbnb for the past year with great success, but we assume the buyer of this property will do the standard 1 year lease for these units. The property is situated on a very large lot of 13,545 SF and it is zoned LAR3, meaning you could build 17 units by right, or up to 23 units with the low-income density bonus. The property also does require some soft story retrofitting for the tuck under parking spots behind the building. This property presents an excellent and unique opportunity for an investor to acquire a very well located property, with very well taken care of units, with 3 vacancies and rental upside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+2 | 6 | - | - |
| 5+2 | 1 | - | - |
Property Taxes
| Parcel Number | 2347-008-027 | Improvements Assessment | $2,419,554 |
| Land Assessment | $1,613,036 | Total Assessment | $4,032,590 |
Property Taxes
