$1,910,000
SOLD FEB 27, 2023

4556 Vista Del Monte Ave Sherman Oaks, CA 91403

8 Beds
8 Baths
5,782 Sq Ft
6,248 Sq Ft Lot

Recently Sold

$330 Per Sq Ft

17% Below List Price

33 Days on Market

Highlights

  • Corner Lot
  • Balcony
  • Views
  • Van Nuys High School Rated A
  • Bathtub with Shower
  • Open Patio

About This Home

As of February 2023

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.

Last Agent to Sell the Property

David Weinberger

Keller Williams Studio City License #01349349 Listed on: 10/27/2022

Keller Williams Studio City

Co-Listed By

David Rothblum

RE/MAX One License #01332525

Last Buyer's Agent

Adam Zunder

Iconic Investments License #01821053

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1958

Lot Details

  • 6,248 Sq Ft Lot
  • Corner Lot

Interior Spaces

  • 5,782 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Oven or Range
  • Leased Washer and Dryer
  • Property Views

Flooring

  • Carpet
  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms
  • Bathtub with Shower

Parking

  • 8 Parking Spaces
  • Attached Carport

Outdoor Features

  • Balcony
  • Open Patio

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating System Mounted To A Wall or Window

Community Details

  • 8 Units
  • Laundry Facilities

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Assessor Parcel Number 2265-011-041

Property Details

Home Type

Multi-Family

Year Built

Built in 1958

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 5782
  • Lot Acreage: 0.1434
  • Stories: 2
  • Year Built: 1958
  • Number Of Photos: 31
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Mixed, Carpet, Tile, Wood Laminate
  • Bedrooms: 8
  • Bathroom Features: Shower Over Tub
  • Laundry: Community
  • Laundry Equipment: Lease
  • Total Bathrooms: 8.00
  • Equipment: Range/Oven
  • Price Per S Q F T: 397.61

Exterior Features

  • Other Features: Balcony
  • Other Structures: None
  • Patio: Patio Open
  • View: Walk Street
  • View: Yes

Garage/Parking

  • Parking Garage: Carport Attached
  • Total Parking: 8

Utilities

  • Cooling: Wall Unit(s), Ceiling Fan
  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 78.56
  • Assessed Improvement Value: 131896
  • Assessed Land Percent: 21.44
  • Assessed Land Value: 36006
  • Total Assessed Value: 167902
  • Assessor Parcel Number: 2265-011-041
  • Lot Description: Street Lighting, Sidewalks, Walk Street
  • Lot Location: Corner Lot
  • Lot Size Area: 6248

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 15.00
  • Number Of Units: 8
  • Total Annual Expense: 49022
  • Type Of Units: 8
  • Vacancy Allow Percent: 2.00
  • Vacancy Rate: 50%

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/27/2023 02/27/23 Sold $1,910,000 -16.9% $330 / Sq Ft
11/29/2022 11/29/22 Pending -- -- --
10/27/2022 10/27/22 For Sale $2,299,000 -- $398 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 22-212769

The MLS