NEW PRICE! 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 11.43 Gross Rent Multiplier and a 5.44% 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.
Additional Features
- Security
- 0-1 Unit/Acre
- Parking spaces: 24.00
- Listing Status: Active
- Listing Agent: Kristopher German
(lic# 01800021)
of Citrus Valley
- Listing Office: RE/MAX 2000 REALTY
(lic# 01264629)
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Based on information from CRISNet MLS as of 10th December 2024 at 9:25am. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
