11860 Chandler Blvd Boulevard, Valley Village, CA 91607
  • MLS#: CV24227936 ( Apartment )
  • Street Address: 11860 Chandler Blvd Boulevard
  • Viewed: 2
  • Price: $5,750,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1960
  • Bldg sqft: 0
  • Days On Market: 11
  • Additional Information
  • County: LOS ANGELES
  • City: Valley Village
  • Zipcode: 91607
  • Provided by: RE/MAX 2000 REALTY
  • Contact: Kristopher Kristopher
  • California Regional MLS IDX
  • DMCA Notice
  • 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 propertys 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.
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Features
Building Area Total
  1. 21994.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Country
  1. US
Electric Expense
  1. 0.00
Entry Location
  1. Ground Level
Fencing
  1. Security
Fireplace Features
  1. None
Fuel Expense
  1. 5078.00
Garage Spaces
  1. 0.00
Gardner Expense
  1. 1920.00
Insurance Expense
  1. 10000.00
Interior Features
  1. Copper Plumbing Full
Laundry Features
  1. Common Area
Laundry Income
  1. 2580.00
Lot Features
  1. 0-1 Unit/Acre
Netoperatingincome
  1. 295935.00
Newtaxesexpense
  1. 68965.00
Number Of Separate Electric Meters
  1. 25
Number Of Separate Gas Meters
  1. 25
Parcel Number
  1. 2348012034
Parking Features
  1. Carport
Pool Expense
  1. 2680.00
Pool Features
  1. Private
  2. Fenced
Professionalmanagementexpense
  1. 18660.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 426679211:CRM
Tenant Pays
  1. Electricity
  2. Gas
Totalactualrent
  1. 39863.00
Totalexpenses
  1. 170578.00
Trash Expense
  1. 12822.00
Vacancyallowance
  1. 14428
Water Sewer Expense
  1. 19852.00
Water Source
  1. Public
Year Built
  1. 1960
Year Built Source
  1. Assessor
Zoning
  1. LAR3