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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$5,495,000

Est. payment - /mo

15 Beds

17 Baths

18,805 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 18,805 sqft

Price per Sqft $292

MLS Listing ID 25541295

Bedrooms 15

HOA Y/N No

Year Built 1983

Lot Size 9,352 Sqft

Property Description

We are pleased to offer a 17-unit apartment building, available for the first time since it was built just over 40 years ago. This exceptionally well-maintained asset sits on a double lot and features over 18,800 square feet of space, with mostly spacious 1-bedroom units. The building has been under the continuous ownership and care of the original developer, reflecting true pride of ownership. Importantly, the building carries a Certificate of Occupancy from 1984, meaning it is not subject to the City of Los Angeles Rent Stabilization Ordinance (RSO). This exemption offers investors meaningful flexibility in managing turnover and achieving market rents.Operating at a 5.34% CAP, this property offers a strong return relative to comparable assets in the Los Angeles multifamily market. Rents remain below market levels, providing immediate income along with clear, achievable upside. The large floor plans allow for rent premiums with minimal repositioning.Tenants benefit from 24 on-site parking spaces, easy access to the 101 and 170 freeways, nearby public transportation, and a diverse selection of local restaurants, shopping, nightlife, and more.Under half a mile to the Gelson's at Riverside Dr., or steps to the Jons International Marketplace, this is a building where people rent to stay! For local families and job opportunities, the building sits between LA Valley College and NoHo High School.The property includes additional income through owned-laundry machines and a rooftop cell antenna lease, offering passive revenue without additional management. The combination of non-RSO status, stable tenancy, and physical unit size positions this asset as an ideal long-term hold with both cash flow and future growth potential.With a low price per square foot, strong in-place income, and clear paths to value creation, this is a rare opportunity to acquire a generational-quality asset in turnkey condition.

Location

State CA

County Los Angeles

Area Vvl - Valley Village

Zoning (Q)R3-1

Interior

Fireplace No

Appliance Dishwasher, Microwave, Refrigerator

Laundry Common Area

Exterior

Parking Features Covered, Garage, Private

Garage Spaces 24.0

Garage Description 24.0

Attached Garage Yes

Total Parking Spaces 24

Building

Story 3

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 2347023055

Special Listing Condition Standard

Read Less Info

Listed by Dario Svidler • Keller Williams Beverly Hills

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12235 Magnolia BLVD Valley Village, CA 91607