Sold

4556 Vista Del Monte Avenue

Sherman Oaks CA, 91403

$1,910,000


$330.34 per sqft

Sold

8 Beds

8 Baths

5,782 sqft

Residential

Built in 1958

This 8-unit, prime value-add property is located North of Ventura Blvd in the highly desirable Sherman Oaks neighborhood, adjacent to Studio City, Valley Glen, and Valley Village. 4556 Vista Del Monte Ave comprises eight 1-bedroom + 1-bathroom units, a total living area of 5,782 sqft, and is situated on an LAR3 Zoned 6,248 sqft lot. This offering presents a rare opportunity for investors to acquire an excellently located apartment building to reposition and upgrade to obtain market premium rents to stabilize at a 5.7%+ Cap rate | 12.9 GRM with the potential to scale and reduce expenses to achieve an even higher rate of return.Investors seeking an asset to employ a value-add strategy can promptly reposition the asset and achieve a higher yield. Four vacant units will allow investors to decide on their own finishes and styles and set market rents. The units are all separately metered for electricity and gas, and the property has a shared laundry room (leased machines). There are 8 tuck-under carport spaces providing easy access for tenants, as well as a private terrace overlooking Hortense St for tenants to use as a common area. With an excellent walk score of 84, this area of Sherman Oaks is a paradise for pedestrians. You can leave your car parked and take a walk down Ventura Blvd to enjoy the city's vibrant atmosphere with plenty of dining, shopping, and employment opportunities nearby. There is also easy access to public transportation and parking, which enables residents to get to offices and businesses nearby with shorter commute times to Studio City, DTLA, and Hollywood.

22212769

MLS ID

October 27, 2022

Listed

February 16, 2024

Updated

Map

4556 Vista Del Monte Avenue
Sherman Oaks CA, 91403

Interior Features

Total Stories

2


Bedrooms

8 Beds


Bathrooms

8 Baths


Laundry Description

Common Area


Floor Description

Carpet, Tile


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.14 Acres

Other Property Details

Area Name

SO - Sherman Oaks


Days on Market

33


Garage

Yes


Parking

Attached Carport


Parking Total

8


View

Yes


County

Los Angeles


Pool

No


Zoning

LAR3


Buyer Agency Compensation

2.5%

Listed by David Weinberger, Keller Williams Studio City, CA DRE 01349349

Listing Contact: 818-970-0915 

Based on information from the CRISNet MLS as of 2/16/2024, 3:39 AM UTC. 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. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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