5222 Hermitage Avenue
$1,475,000
8
8
4,802
4,802
$307
Description
We are pleased to present 5222 Hermitage Ave, a 5-unit multifamily property in Valley Village, CA. In 1948, this property was originally built as a single family house. Then in 1987, the owner submitted building plans to add 4 units in addition to the house, making it a 5 unit property. The construction was finished in 1989, and the certificate of occupancy was issued in 1990. The property isn't on the city's list for mandatory soft story retrofitting, despite the tuck-under parking in the back....We are pleased to present 5222 Hermitage Ave, a 5-unit multifamily property in Valley Village, CA. In 1948, this property was originally built as a single family house. Then in 1987, the owner submitted building plans to add 4 units in addition to the house, making it a 5 unit property. The construction was finished in 1989, and the certificate of occupancy was issued in 1990. The property isn't on the city's list for mandatory soft story retrofitting, despite the tuck-under parking in the back. This is likely because the tuck-under parking was built in 1990, and therefore exempt from seismic retrofitting requirements, but the Buyer should verify and rely on Buyer's own research. This 4,802 square foot building sits on a 0.17 acre lot, and it boasts a strong unit mix with (1) 1,100 SqFt 3-Bedroom, (1) 950 SqFt 2-Bedroom, and (3) 650 SqFt 1-Bedroom units. The 3 bedroom unit was recently renovated as well as one of the 1-bedroom units. The other three units are occupied by tenants living there for 10+ years, and those units offer significant upside potential for the buyer. Also, this property's layout lends itself perfectly for two brand new construction ADUs to be built on the back parking lot.5222 Hermitage 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.
- 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 5222 Hermitage Avenue
Zoning
LAR3
Parcel Number2347023007
Total Units5.0
Living Area4802
Source Living AreaVendor Enhanced
AreaValley Village (VVL)
Vacancy Rate3%
Lot Size Area7619
LISTING UPDATED: 08/30/2024 12:01 AM
Property Details for 5222 Hermitage Avenue
Status | Active |
---|---|
MLS # | 24-431163 |
Days on Market | 121 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1948 |
Lot Size | 0.17 AC / 7,619 SF |
County | Los Angeles County |
Building Information for 5222 Hermitage Avenue
Stories2Residences-Year Built1948Building Size-Lot Size0.17 AC / 7,619 SF
Property Information for 5222 Hermitage Avenue
Property History for 5222 Hermitage 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 5222 Hermitage Avenue
Taxable ValueLand$459,329Additions$688,995Total$1,148,324
Tax Record2024$14,810 ($1,234 / month)
Home Facts
Total Finished SqFt4,802 SqFtAbove Grade Finished SqFt4,802 SqFtStories1Lot Size7,617 SqFtStyleMulti-Family Res (5+ Units)Year Built1948ZoningLAR3CountyLOS ANGELESAPN2347-023-007
Schools near 5222 Hermitage Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Burbank Boulevard Elementary School PublicK 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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