CA > Valley Village
Valley Village, CA 91607,5222 Hermitage Ave
Valley Village, CA 91607,5222 Hermitage Ave
Valley Village, CA 91607,5222 Hermitage Ave
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$1,475,000
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8 BD
8 BA
4,802 SqFt
Active

5222 Hermitage Ave Valley Village, CA 91607

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Joshua Shorter

Joshua Shorter

+1(702) 728-0089

UPDATED:

08/30/2024 07:01 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,802 sqft

Price per Sqft $307

MLS Listing ID 24-431163

Bedrooms 8

Year Built 1948

Lot Size 7,619 Sqft

Acres 0.1749

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 Valley Village

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Other

Cooling Other

Equipment Other

Exterior

Parking Features Covered Parking

Garage Spaces 10.0

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

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Joshua Shorter

RE.S.0191694

+1(702) 728-0089

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5222 Hermitage Ave