Homes for sale - 11860 Chandler Blvd BLVD, Valley Village, CA 91607...

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Max Lindenberger

max.lindenberger@engelvoelkers.com

$ 5,750,000

Est. payment -/mo

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Active

11860 Chandler Blvd BLVD Valley Village, CA 91607

0.59 Acres Lot

UPDATED:

11/07/2024 01:06 AM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID CV24227936

HOA Y/N No

Year Built 1960

Lot Size 0.586 Acres

Property Description

Introducing a compelling investment opportunity in the highly sought after rental community of Valley Village: A 24-unit multi-family complex that exemplifies both quality and potential. The subject property boasts large living spaces with an average unit size of 915 square feet, for a total rentable square footage of 21,994 square feet, on a 25,500 square foot lot.

The diverse unit mix includes one 2-Bedroom/2-Bathroom unit with a Den, four 2-Bedroom/1-Bathroom units, one 1-Bedroom/1-Bathroom unit with a Den, and eighteen 1-Bedroom/1-Bathroom units. Each apartment is individually metered for electricity and gas, facilitating easier utility management and cost distribution.

Significant capital investments have been made to enhance the property's value and tenant experience. Recent improvements include; a newer roof with an additional layer of sealant applied in 2021, a resealed driveway, a modern solar hot water heating system, new electric sub panels installed in 2023, completion of soft story retrofitting in 2017, a replastered pool in 2010, and a new security entry system installed in 2020. Additionally, the property features copper plumbing throughout, ensuring durability and reduced maintenance concerns.

Amenities such as an onsite laundry facility and gated private entry add to the property’s appeal, increasing desirability among prospective tenants. With a current 11.96 Gross Rent Multiplier and a 5.15% CAP rate, along with a potential 27% upside in rental income, this investment stands out in the market for its income-generating potential and strategic enhancements.

Location

State CA

County Los Angeles

Area Vvl - Valley Village

Zoning LAR3

Interior

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Garage Carport

Fence Security

Pool Fenced, Private

Community Features Street Lights, Sidewalks

Total Parking Spaces 24

Private Pool Yes

Building

Lot Description 0-1 Unit/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 2348012034

Energy Description 5078.0

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

Listed by Kristopher German • RE/MAX 2000 REALTY • 909-645-0443

Max Lindenberger

Advisor | License ID: 02073155

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