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Key Details
Sold Price $7,125,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 23,973 sqft
Price per Sqft $297
MLS Listing ID 23313083
Sold Date 12/27/23
Bedrooms 40
HOA Y/N No
Year Built 1961
Lot Size 0.648 Acres
Property Description
The offering is a rare and attractive value add investment property located in Valley Village adjacent to Studio City. The property is situated in one of the trendiest neighborhoods in the San Fernando Valley, located just off of Laurel Canyon Blvd tenants are within close walking distance to a plethora of fine dining, shopping, and entertainment option. The asset is well maintained with little to no deferred maintenance and recent additions and upgraded copper plumbing. This is a brilliant opportunity for a savvy investor to acquire an ultra-prime Valley location with value-add potential of about 28%. There is an excellent unit mix consisting of eight (8) one (1)Bedroom / one (1) Bathroom units and, sixteen (16) two (2) Bedroom/ two (2) Bathroom units, very desirable for today's rental market. There is ample space for parking as well in the back of the building. Seismic Retrofit has been completed. All units are separately metered gas and electric and include their own private patio's. This valuable asset is available for sale for the first time in 50 Years!
Location
State CA
County Los Angeles
Area Vvl - Valley Village
Zoning LAR3
Interior
Fireplace No
Appliance Dishwasher, Refrigerator, Dryer
Exterior
Parking Features Assigned
Total Parking Spaces 24
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2355014026
Special Listing Condition Standard
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Bought with David Saghian • Kidder Mathews of California, Inc.
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960