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$2,050,000
Est. payment /mo
8 Beds
8 Baths
4,736 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,736 sqft
Price per Sqft $432
MLS Listing ID 25579937
Bedrooms 8
HOA Y/N No
Year Built 1985
Lot Size 7,426 Sqft
Property Description
5418 Hermitage Avenue is a well-positioned 7-unit multifamily property in the desirable Valley Village neighborhood of Los Angeles, CA. Built in 1985, this property is exempt from the Los Angeles City Rent Stabilization Ordinance (RSO), providing flexibility for investors to adjust rental rates in alignment with market demand. The unit mix consists of one 2-bedroom/2-bathroom unit, five 1-bedroom/1bathroom units, and one studio, catering to a diverse tenant base including young professionals, small families, and individuals seeking proximity to urban amenities. The property benefits from a stable rental market in Valley Village, driven by its proximity to major employment hubs such as Universal Studios Hollywood (approximately 4 miles away) and the entertainment industry in nearby Studio City and North Hollywood. The unit mix supports strong rental income potential, with 2-bedroom units appealing to higher-income tenants and 1-bedroom/studio units attracting cost-conscious renters. Modern amenities, such as in-unit washer/dryer, dishwasher, and pet friendly policies (as seen in similar properties in the area), enhance tenant retention and reduce vacancy rates. From an investment perspective, the property offers a compelling opportunity for value-add strategies. Given its 1985 construction, selective renovations (e.g., updating kitchens, bathrooms, or common areas) could further increase rental income and property value. The absence of RSO restrictions allows for market-driven rent adjustments, maximizing cash f low in a neighborhood with consistent demand. Additionally, the property's location in a highly walkable and bikeable area with access to public transit (Laurel Canyon Station, 0.3 miles away) enhances its appeal to tenants, supporting long-term occupancy stability.
Location
State CA
County Los Angeles
Area Vvl - Valley Village
Zoning LAR3
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Microwave, Refrigerator
Exterior
Parking Features Covered
Total Parking Spaces 2
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2347013021
Special Listing Condition Standard
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Listed by Jeffrey Louks Marcus & Millichap
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