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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 1,475,000

Est. payment -/mo

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5222 Hermitage AVE Valley Village, CA 91607

8 Beds

8 Baths

4,802 SqFt

UPDATED:

09/30/2024 06:29 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,802 sqft

Price per Sqft $307

MLS Listing ID 24431163

Bedrooms 8

HOA Y/N No

Year Built 1948

Lot Size 7,618 Sqft

Property Description

We are pleased to present 5222 Hermitage Ave, a 5-unit multifamily property in Valley Village, CA.In 1948, this property was originally built as a single family house. Then in 1987, the owner submitted building plans to add 4 units in addition to the house, making it a 5 unit property. The construction was finished in 1989, and the certificate of occupancy was issued in 1990. The property isn't on the city's list for mandatory soft story retrofitting, despite the tuck-under parking in the back. This is likely because the tuck-under parking was built in 1990, and therefore exempt from seismic retrofitting requirements, but the Buyer should verify and rely on Buyer's own research.This 4,802 square foot building sits on a 0.17 acre lot, and it boasts a strong unit mix with (1) 1,100 SqFt 3-Bedroom, (1) 950 SqFt 2-Bedroom, and (3) 650 SqFt 1-Bedroom units. The 3 bedroom unit was recently renovated as well as one of the 1-bedroom units. The other three units are occupied by tenants living there for 10+ years, and those units offer significant upside potential for the buyer. Also, this property's layout lends itself perfectly for two brand new construction ADUs to be built on the back parking lot.5222 Hermitage is located in a great pocket of Valley Village, a desirable community within the San Fernando Valley, known for its residential charm, accessibility, and convenience. The property benets from its proximity to key transportation routes, shopping, dining, and entertainment options, as well as its closeness to major employment centers. This prime location not only enhances the living experience for tenants but also contributes to the property's overall attractiveness as an investment, by supporting sustained demand and the potential for rental growth. The blend of a well-maintained property, a diverse unit mix, and a prime location makes this asset a compelling opportunity for investors looking to capitalize on the Valley Village rental market.

Location

State CA

County Los Angeles

Area Vvl - Valley Village

Zoning LAR3

Interior

Fireplace No

Exterior

Garage Covered

Parking Type Covered

Total Parking Spaces 10

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2347023007

Special Listing Condition Standard

Listed by Filip Niculete • Marcus & Millichap

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

Rick Lee

5222 Hermitage AVE Valley Village, CA 91607

Key Details

Location

Interior

Exterior

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5222 Hermitage AVE