Active

5222 Hermitage Avenue

Valley Village CA, 91607

$1,475,000


$307.16 per sqft

Active

8 Beds

8 Baths

4,802 sqft

Residential

Built in 1948

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.

24431163

MLS ID

August 22, 2024

Listed

December 5, 2024

Updated

Map

5222 Hermitage Avenue
Valley Village CA, 91607

Interior Features

Total Stories

2


Bedrooms

8


Total Bathrooms

8


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.17 Acres

Other Property Details

Area Name

VVL - Valley Village


Days on Market

104


Garage

No


Parking

Covered


Parking Total

10


View

No


County

Los Angeles


Pool

No


Zoning

LAR3

Listed by Filip Niculete, Marcus & Millichap, CA DRE 01905352

Listing Contact: 818-212-2817 

Based on information from the CRISNet MLS as of 12/5/2024, 6:54 AM UTC. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The information being 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.

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