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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