5222 Hermitage Avenue
Valley Village, CA, 91607 $ 6,100,000
Baths0.0 Sq 18,009 Monthly Estimate*
$ 42,610
Studio
for $6,100,000. This 18,009 square foot home was built in 1970 on a lot size of 0.52.
We are proud to present 5222-5228 Hermitage Avenue - a value add real estate opportunity located in Valley Village, CA. The 20 unit building is comprised of 1- Studio, 4- 1 bed/1 bath, 1- 1 bed/1.5 bath, 2- 2 bed/1 bath, 9- 2 bed/2 bath, 2- 2 bed/2.5 bath and 1- 3 bed/2 bath units. Constructed in 1948 & 1970, the 20 units sits on 2 APNs which eliminates the need for an on-site manager. The property spans 18,009 gross square feet, and is set on a total 0.52-acre lot. The property has ample gated and garage parking for tenants with easy access through the front or either side of the properties. To enhance the quality of living for residents, the property features a smoke-free environment, intercom, laundry facilities and pool.One of this property's significant attractions is the great value-add potential. Current rents at the property are approximately 33% below the market rate, presenting a significant opportunity for the buyer. Assuming the buyer can turn over all units and achieve market rents throughout, we estimate that the units could bring in about $54,000 in gross rental income each month, or about $650,000 per year, increasing the buyer's CAP rate to 7.55%! The location of 5222-5228 Hermitage Ave in Valley Village is particularly noteworthy with a Walk Score of 79 (Very Walkable). Valley Village is a desirable community within the San Fernando Valley, known for its residential charm, accessibility, and convenience. The property benefits 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.
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FeaturesGeneralZoning LAR3
Year Built 1970
Levels Two
County Los Angeles
Net Operating Income 311599.0
New Construction No
Property Type C
HOA / Comm Assn No
Status Active
City Valley Village
Buyer Agent Compensation 1.00
Senior Community Y/N No
MLS Area VVL - Valley Village
Lot Size Square Feet 22851.0
Street Name Hermitage
Standard Status Active
Year Built Source Assessor
Buyer Agent Compensation Type %
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ExteriorParking Features Gated
Lot Size Area 22851.0
Pool Y/N? Yes
Building Area Total 18009.0
Lot Size Acres 0.52
Lot Size Units Square Feet
Land Lease Type Fee
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InteriorTotal Stories 2
Street Suffix Avenue
Laundry Features Community
Total Baths 0
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* Excluded FeaturesList ByFilip NiculeteListing Agent
Affordability Calculator
- Monthly Principal & Interest
- $42,610
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Valley Village, CA
Average List Price $3,823,286
Percent of Sale Price 37%
About Valley Village, CA 30,228 Population
7% Since 2002
$ 57,870 Median Income
40.27 Median Age
21% Households with Children
Trends Information provided by ATTOM Data Solutions.
793437 Elementary School
793428 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
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5/3/2024 | $6,100,000 | | Listed Price |