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$ 2,975,000
Est. payment | /mo
8,892 SqFt
$ 2,975,000
Est. payment | /mo
8,892 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 8,892 sqft
Price per Sqft $334
MLS Listing ID CL26657261
HOA Y/N No
Year Built 1963
Lot Size 8,768 Sqft
Acres 0.2013
Property Sub-Type Other
Property Description
Prime Studio City 10 unit Asset Steps to Tujunga Village. Located just three buildings south from the heart of Tujunga Village, this 10 unit property sits in the one of Studio City's most vibrant and coveted micro - neighborhoods. Residents can walk to popular cafe's, chef driven restaurants, fitness studios and boutique shopping, all while enjoying the tree lined residential street that make this area so desired. The property's generous one and two - bedroom floor plans cater to today renters who prioritize space, flexibility and lifestyle. Whether roommates, work from home professionals, or young families , this unit mix supports strong long term tenancy and rental upside. The units are very large with a building size of nearly 9,000 sq ft. -This is best priced per foot asset in recent history of Studio City. - Day one cap rate of 5 % rental upside of nearly 25% -along with a sub $300k price per unit- make all the metrics here very attractive - This property is priced to sell. Ownership has been caring for this property since the 1980's. - Rarely do properties in this area come to market. Very constrained market. - Well kept and manicured property with updated units, new windows throughout, updated plumbing, ample parking in the rear for all 8 units. - ADU potential as the property has ample parking and a large 8700 sq ft lot. - Secured entry and beautiful courtyard. - On site laundry room. Studio City is one of the San Fernandos Valley's most desirable rental submarkets. Strong demand driven by proximity to major studios and entertainment employers. Easy access to Ventura Blvd , Hollywood and the Westside. Upscale neighborhood with consistent long - term tenant appeal.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Building
New Construction No
Others
Tax ID 2366012021
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Listed by Alex Galuz • Keller Williams Realty Calabasas
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Debbi DiMaggio Betta
REALTOR | Partner | Lic# 01047447