5228 Hermitage Ave
Valley Village, CA 91607
26 Beds
25 Baths
13,207 Sq Ft
29 Days on Market
For Sale $4,320,000
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Courtesy of Marcus & Millichap

Listing Agent & Comments

Filip NiculeteMarcus & Millichap
818-212-2817info@laaa.com License #01905352
We are pleased to present Hermitage Court, a 15-unit apartment community in Valley Village, CA. Built in 1970, this property is subject to LA Rent Control (RSO), but it is not required to have an onsite manager, saving the landlord a signicant expense.Priced at $4,320,000, Hermitage Court is offered well below ULA Mansion Tax's threshold of $5,150,000, allowing the buyer to increase the property's value without having to worry about paying for ULA taxes on a future sale.This 13,207 square foot building sits on a large 0.35 acre lot, and it boasts an excellent unit mix of twelve 2-bedroom units (80% 2-bed units), two 1-bedroom units, and one studio. The property wraps around a beautiful courtyard with well manicured landscaping, and it is fully secured with all entrances closed off from the public. There's plenty of parking for the tenants with some private garages in the front and additional parking in the back. Also, the property offers its tenants a pool and BBQ area to enjoy.The seller has renovated 8 of the 15 units in recent years, leaving the buyer ample opportunity to capitalize on approximately 33% upside in rents through unit turns. Also, the buyer could consider converting the garages into ADUs, adding to the total unit count and significantly increasing the property's value. Hermitage Court 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.

MLS# 24431091 • Data provided by CRMLS
Additional home details
Living Area13,207 Sq.Ft.
Lot Size0.3 Acres
Total Rooms--
Bedrooms26
Bathrooms25
Stories2
Year Built1970
Property TypeMulti Family
ZoningLAR3
HOA Name--
HOA Fee--
HOA Includes--
Tax Year2023
Tax Amount$35,756
Property in Flood Zone--
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More Information On This Home
This home's estimated value
$4,429,544
ComeHome Estimated Value
What influenced our estimate?
This is ComeHome’s estimated market value for this home. It is not a formal appraisal. This estimate is based on our market knowledge, and it should be used as a starting point to determine a home’s value.
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This property is missing data for:
Comparable properties and rental estimate
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HouseCanary, Inc. Brokerage

5228 Hermitage Ave., Valley Village, CA 91607

Multi Family
26 Beds
25 Baths
13,207 Sq Ft
29 Days on Market

Listing Agent & Comments

Filip NiculeteMarcus & Millichap
818-212-2817info@laaa.com License #01905352
We are pleased to present Hermitage Court, a 15-unit apartment community in Valley Village, CA. Built in 1970, this property is subject to LA Rent Control (RSO), but it is not required to have an onsite manager, saving the landlord a signicant expense.Priced at $4,320,000, Hermitage Court is offered well below ULA Mansion Tax's threshold of $5,150,000, allowing the buyer to increase the property's value without having to worry about paying for ULA taxes on a future sale.This 13,207 square foot building sits on a large 0.35 acre lot, and it boasts an excellent unit mix of twelve 2-bedroom units (80% 2-bed units), two 1-bedroom units, and one studio. The property wraps around a beautiful courtyard with well manicured landscaping, and it is fully secured with all entrances closed off from the public. There's plenty of parking for the tenants with some private garages in the front and additional parking in the back. Also, the property offers its tenants a pool and BBQ area to enjoy.The seller has renovated 8 of the 15 units in recent years, leaving the buyer ample opportunity to capitalize on approximately 33% upside in rents through unit turns. Also, the buyer could consider converting the garages into ADUs, adding to the total unit count and significantly increasing the property's value. Hermitage Court 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.

MLS# 24431091 • Data provided by CRMLS
Additional home details
Living Area13,207 Sq.Ft.
Lot Size0.3 Acres
Total Rooms--
Bedrooms26
Bathrooms25
Stories2
Year Built1970
Property TypeMulti Family
ZoningLAR3
HOA Name--
HOA Fee--
HOA Includes--
Tax Year2023
Tax Amount$35,756
Property in Flood Zone--
We’ll connect you with top agents in your area.
Missing property details data
This property is missing data for:
Comparable properties and rental estimate
New
Do you own this home?
Access your homeowner dashboard
house
For Sale $4,320,000
Request tour
Save
Courtesy of Marcus & Millichap
5228 Hermitage Ave
Valley Village, CA 91607
26 Beds
25 Baths
13,207 Sq Ft
29 Days on Market

Listing Agent & Comments

Filip NiculeteMarcus & Millichap
818-212-2817info@laaa.com License #01905352
We are pleased to present Hermitage Court, a 15-unit apartment community in Valley Village, CA. Built in 1970, this property is subject to LA Rent Control (RSO), but it is not required to have an onsite manager, saving the landlord a signicant expense.Priced at $4,320,000, Hermitage Court is offered well below ULA Mansion Tax's threshold of $5,150,000, allowing the buyer to increase the property's value without having to worry about paying for ULA taxes on a future sale.This 13,207 square foot building sits on a large 0.35 acre lot, and it boasts an excellent unit mix of twelve 2-bedroom units (80% 2-bed units), two 1-bedroom units, and one studio. The property wraps around a beautiful courtyard with well manicured landscaping, and it is fully secured with all entrances closed off from the public. There's plenty of parking for the tenants with some private garages in the front and additional parking in the back. Also, the property offers its tenants a pool and BBQ area to enjoy.The seller has renovated 8 of the 15 units in recent years, leaving the buyer ample opportunity to capitalize on approximately 33% upside in rents through unit turns. Also, the buyer could consider converting the garages into ADUs, adding to the total unit count and significantly increasing the property's value. Hermitage Court 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.

MLS# 24431091 • Data provided by CRMLS
Additional home details
Living Area13,207 Sq.Ft.
Lot Size0.3 Acres
Total Rooms--
Bedrooms26
Bathrooms25
Stories2
Year Built1970
Property TypeMulti Family
ZoningLAR3
HOA Name--
HOA Fee--
HOA Includes--
Tax Year2023
Tax Amount$35,756
Property in Flood Zone--
We’ll connect you with top agents in your area.
More Information On This Home
This home's estimated value
$4,429,544
ComeHome Estimated Value
What influenced our estimate?
This is ComeHome’s estimated market value for this home. It is not a formal appraisal. This estimate is based on our market knowledge, and it should be used as a starting point to determine a home’s value.
Missing property details data
This property is missing data for:
Comparable properties and rental estimate
New
Do you own this home?
Access your homeowner dashboard
house

For Sale $4,320,000
Request tour
Save
Courtesy of Marcus & Millichap