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Key Details
Sold Price $3,825,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 8,957 sqft
Price per Sqft $427
MLS Listing ID 22180057
Sold Date 12/09/22
Bedrooms 18
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1985
Lot Size 7,056 Sqft
Property Description
This pride of ownership, 10-unit apartment building in the upscale Valley Village neighborhood of the San Fernando Valley, is on Chandler Boulevard between Whitsett Avenue and Laurel Canyon Boulevard. (AKA 5401 Rhodes Ave). This property, built in 1985, features an excellent unit mix of one (1) 1+1, and nine (9) 2+2 units. The building was extensively renovated in 2021 to include a complete roof replacement, all new air conditioning units, new lobby and hallways, and landscaping. Two of the units have also been extensively renovated. This investment currently allows an owner to increase rents up to 10 per year (AB 1482). With the rental upside in rents at over 35%, a new owner should achieve market rents at a rapid pace. (Market Cap of 5.88%).
Location
State CA
County Los Angeles
Area Vvl - Valley Village
Zoning LAR3
Rooms
Ensuite Laundry Laundry Room
Interior
Laundry Location Laundry Room
Heating Central
Cooling Central Air
Fireplace No
Appliance Dishwasher, Disposal
Laundry Laundry Room
Exterior
Total Parking Spaces 21
Building
Story 2
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 2347004010
Special Listing Condition Standard
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Bought with Victoria Babilonia • RE/MAX Estate Properties
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