4725 Radford Avenue
$3,412,500
41
38
28,037
28,037
$122
Sold 10/24/24
Description
We are proud to present "The Radford", a 21-unit condominium property located at 4725 Radford Ave in prime Valley Village, CA. This listing is part of a 3 property portfolio with 57 total condos, all in the South Valley, and all built by the seller in 2018. Built in 2018 to condo specifications, this property is 100% free of all rent control. The 28,037 sqft building sits on a 0.28 acre lot, and it boasts an excellent unit mix of (4) 1 Bed / 1 Bath condos, (14) 2 Bed / 2 Bath condos, and (3) 3 Bed...We are proud to present "The Radford", a 21-unit condominium property located at 4725 Radford Ave in prime Valley Village, CA. This listing is part of a 3 property portfolio with 57 total condos, all in the South Valley, and all built by the seller in 2018. Built in 2018 to condo specifications, this property is 100% free of all rent control. The 28,037 sqft building sits on a 0.28 acre lot, and it boasts an excellent unit mix of (4) 1 Bed / 1 Bath condos, (14) 2 Bed / 2 Bath condos, and (3) 3 Bed / 2 Bath condos, with an average size of 788sf, 1,184sf, and 1,429sf, respectively. Of the 21 condos, 19 are market-rate and 2 are low-income restricted (both low-income restricted condos are 2 Bed). The property has a gated, double-subterranean parking lot with four levels of residential above. The 1st floor has 6 condos while the 2nd, 3rd, and 4th floors all have 5 condos. The top floor is reserved for 5 beautiful penthouses. These modern and luxury condos are fully equipped with central A/C, new stainless steel appliances, in unit washer/dryer, open floor plan kitchen, dining area, large living room, wood-inspired vinyl floors, and a private balcony/patio. The property is individually metered all utilities, including water, which keeps the landlord's utility expenses to near nothing. The building generates additional income through renting out extra parking spaces and seven storage spaces to tenants for additional charge. The building also has 14.8kwp solar panels and EV chargers which provide the landlord with extra income. Currently, this condo building is being operated as apartment rentals, and the building is 100% occupied with all tenants paying rent. The 21 condos bring in a combined $63,500 of rent per month, or $762,000 per year. A recent rent survey suggests full market-rent potential at $75,300 per month, or $904,000 per year, presenting an investor with approximately 19% upside potential. These condos offer an excellent exit strategy to sell them off individually. A survey of recently sold condos in the South Valley show that newer construction 2 and 3 bedroom condos are selling for an average of $655 per sqft. With the building currently priced at just $410 per sqft, there's immense profit potential for an investor who's willing to put in the time to sell these condos individually. Importantly, selling these individually would allow the buyer to avoid expensive ULA transfer taxes on the exit. The Radford is perfectly located in Valley Village, within close proximity to Gelson's, Starbucks, Moorpark park, and plenty of bars, restaurants, and shopping. The property has quick access to the 101, 170, and 405 freeways, allowing for easy commuting to anywhere throughout Los Angeles and beyond. Its proximity to Studio City, Sherman Oaks, Toluca Lake, Burbank and Hollywood positions it as an ideal home for those seeking access to the best the Valley has to offer.
- Listed by Filip Niculete • DRE #01905352 • Brokerage DRE #01238010 • Marcus & Millichap
- Listed by Glen Scher • DRE #01962976 • Brokerage DRE #01238010 • Marcus & Millichap
Property Details for 4725 Radford Avenue
Zoning
LAR3
Parcel Number2355014178
Total Units21.0
Living Area28037
Source Living AreaVendor Enhanced
AreaValley Village (VVL)
Vacancy Rate3%
Lot Size Area11987
LISTING UPDATED: 10/25/2024 11:04 AM
Property Details for 4725 Radford Avenue
Status | Sold |
---|---|
MLS # | 24-374897 |
Days on Market | 108 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 2018 |
Lot Size | 0.28 AC / 11,987 SF |
County | Los Angeles County |
Building Information for 4725 Radford Avenue
Stories-Residences-Year Built2018Building Size-Lot Size0.28 AC / 11,987 SF
Property Information for 4725 Radford Avenue
Property History for 4725 Radford Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 4725 Radford Avenue
Taxable ValueLand$1,827,920Additions$5,282,123Total$7,110,043
Tax Record2023$87,324 ($7,277 / month)
Home Facts
Total Finished SqFt28,037 SqFtAbove Grade Finished SqFt28,037 SqFtStories1Lot Size11,984 SqFtStyleMulti-Family Res (5+ Units)Year Built2018ZoningLAR3CountyLOS ANGELESAPN2355-014-178
Schools near 4725 Radford Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Charter - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Colfax Charter Elementary School CharterK to 5 | ||
Walter Reed Middle School Public6 to 8 | ||
North Hollywood Senior High School Public9 to 12 | ||
Amelia Earhart Continuation School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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