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5222 Hermitage Ave Valley Village, CA, 91607
$6,100,000 Commercial for sale Other
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 Wa
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Property details
18,009 sqft interior area
Land area
22,851 sqft (0.52 acres)
Days on Verhouse
21
Address
5222 Hermitage Ave, Valley Village, CA, 91607
City of California
Valley Village
County
Los Angeles
Year Built
1970
District
Listing
Nearby major retailers
Costco
Trader Joe's
Lowe's
Walmart Supercenter
ALDI
T-Mobile
Whole Foods Market
Toyota
Aldi
Wholesale: 2
Supermarket: 8
Do it yourself: 1
Mobile phone: 2
Car: 1
Car repair: 1
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Listed by
Filip Niculete, Marcus & Millichap
Name
Filip Niculete
License number
01905352
Brokerage company
Marcus & Millichap
MLS #
CL24384619
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Calculate your monthly payments
Mortgage
$18,729
Taxes
$0
HOA dues
$0
Mortgage
$1,220,000 / 20%
2.28%
30 years
Your amount
$18,729 / month
Lot details
TMK #unavailable
Parcel nr.
unavailable
91607 info
Essentials nearby
Neighborhood stats
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
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no data
Beach
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no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
People living in 91607
42%
Families with children
National average: 39%
49%
Non family households
421,182
Population
$114,412
Average Income
Age & gender
Median age 37 years
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Commute types
81% commute by car
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Education level
30% have bachelor education
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Number of employees
2% work in education and healthcare
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Vehicles available
43% have 1 vehicle
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Vehicles by gender
43% have 1 vehicle
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Housing market insights for
$1.47m
Neighborhood average
sales price*
sales price*
$1.17m
Neighborhood median
sales price*
sales price*
711
Number
of sales*
of sales*
Housing type
34% are single detacheds
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Rooms
37% of the houses have 4 or 5 rooms
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Bedrooms
57% have 2 or 3 bedrooms
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Owners vs Renters
64% are renters
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16.33 / 20
Most Walkable
►
15-20
Most Walkable
10-15
Above Average
5-10
Below Average
1-5
Least Walkable
Walkability according to the National Walkability Index
Price history
New Listing Apr 25, 2024
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Apr 25, 2024 | New Listing | $6,100,000 | 0 | MLS #CL24384619 |
Taxes of 5222 Hermitage Ave, Valley Village, CA, 91607
LAR3 zoning / MLS #CL24384619
Zoning
LAR3
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Frequently Asked Questions about 5222 Hermitage Ave
What is 5222 Hermitage Ave?
5222 Hermitage Ave is a Commercial/Industrial propertywith 18,009 sqft interior space.
What is the rental income?
-
What is the full address of this Commercial?
5222 Hermitage Ave, Valley Village, CA, 91607.
What comparable properties are nearby?
Comparable nearby commercial properties include 5020 Tujunga Ave, 6067 Hazelhurst Pl, 12918 Valleyheart Dr, 5630 Fair Ave, 5611 Fulcher Ave, 5018 Lankershim Blvd.
Based on information from the bridgeMLS as of 05-15-2024. 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.
Listing last updated on: May 03, 2024
Verhouse Last checked less than a minute ago
The closest grocery stores are Jons Market, 0.18 miles away and 7 Day's Food Store, 0.52 miles away.
The 91607 zip area has a population of 421,182, and 42% of the families have children. The median age is 37.77 years and 81% commute by car. The most popular housing type is "single detached" and 64% is renter.
