Property listed by Marcus & Millichap, Jeffrey Louks 818-212-2700
$2,050,000
5418 Hermitage Avenue is a well-positioned 7-unit multifamily property in the desirable Valley Village neighborhood of Los Angeles, CA. Built in 1985, this property is exempt from the Los Angeles City Rent Stabilization Ordinance (RSO), providing flexibility for investors to adjust rental rates in alignment with market demand. The unit… Read More mix consists of one 2-bedroom/2-bathroom unit, five 1-bedroom/1bathroom units, and one studio, catering to a diverse tenant base including young professionals, small families, and individuals seeking proximity to urban amenities. The property benefits from a stable rental market in Valley Village, driven by its proximity to major employment hubs such as Universal Studios Hollywood (approximately 4 miles away) and the entertainment industry in nearby Studio City and North Hollywood. The unit mix supports strong rental income potential, with 2-bedroom units appealing to higher-income tenants and 1-bedroom/studio units attracting cost-conscious renters. Modern amenities, such as in-unit washer/dryer, dishwasher, and pet friendly policies (as seen in similar properties in the area), enhance tenant retention and reduce vacancy rates. From an investment perspective, the property offers a compelling opportunity for value-add strategies. Given its 1985 construction, selective renovations (e.g., updating kitchens, bathrooms, or common areas) could further increase rental income and property value. The absence of RSO restrictions allows for market-driven rent adjustments, maximizing cash f low in a neighborhood with consistent demand. Additionally, the property's location in a highly walkable and bikeable area with access to public transit (Laurel Canyon Station, 0.3 miles away) enhances its appeal to tenants, supporting long-term occupancy stability. Read Less
Listing Snapshot
Days Online
51
Last Updated
Property Type
Other
Beds
8
Square Ft.
4,736
Lot Size
0.17 Acres
Year Built
1985
MLS Number
25579937
30 Days Snapshot Of 91607
$1.18M
-18%
(avg) sold price
10
-23%
homes sold
94
+28%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Microwave, Refrigerator
Building
Built in 1985, Building area total: 4,736, Levels: Two, Living area: 4736, 2 stories, 1 building
Cooling
CentralAir
Heating
Central
Income
Gross income: $162,860, Net operating income: $92,515
Lot
0.1705 acres, 7,429 square feet, Size: 7,429
Parking
2 totals parking, Covered
Property
Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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