NOT LISTED FOR SALE

5008 Hazeltine Ave Sherman Oaks, CA 91423

35 Beds
35 Baths
19,510 Sq Ft
0.47 Acres

Last Sold December 29, 2022

Last sale price $8,750,000 $448 Per Sq Ft

62 Days on Market

Highlights

  • In Ground Pool
  • 0.47 Acre Lot
  • 4-minute walk to Van Nuys-Sherman Oaks War Memorial Park
  • Chandler Elementary Rated A-

About This Home

As of December 2022

We are proud to present this 18-unit apartment building in a great Sherman Oaks location. The property was built in 1957 but is not subject to the LA City Rent Control (still subject to State Rent Control). There is an excellent unit mix that includes One One-Bedroom/One-Bath Unit, and Seventeen Two-Bedroom/Two-Bath Units. Thirteen of the units have been completely renovated including in-unit washer/dryers. The building system infrastructure has been upgraded to accommodate the remaining 5 units that do not have washer/dryers. Some of the renovations include calcutta quartz countertops, shaker cabinetry, vinyl plank flooring, upgraded windows and stainless-steel appliances. The units are built around a central courtyard that features a pool. The building has upgraded windows, upgraded roof, tiled entryway, beautiful landscaping and more. The residence is secured with gated access from the front and gated parking in the back (18 spaces). Ample street parking is also available. The property is just a quick drive away from plenty of dining, shopping and entertainment options on Ventura Blvd. A few blocks to the south is the 101 Freeway which provides easy access to the surrounding area and job opportunities. And for recreation, Sherman Oaks Park is just across the street from the property. This opportunity is perfect for an investor looking for a well-located, turn-key asset with accessible upside via a proven renovation program. Although built prior to 1978, 5008 Hazeltine is exempt from the City of Los Angeles' Rent Stabilization Ordinance ("RSO"). The City of Los Angeles had a program that allowed a landlord to file for a rent stabilization exemption on individual units upon significant capital expenditures. Previous ownership applied for an exemption on all 18 units and received approval from the City of Los Angeles deeming all 18 units RSO "exempt" on May 17th, 1983.

Last Agent to Sell the Property

Brett Sanson

Marcus & Millichap License #01387480 Listed on: 10/20/2022

Co-Listed By

Jeff Louks

Marcus & Millichap License #00908473

Last Buyer's Agent

Kelly Morgan

KW Advisors License #01898026

KW Advisors

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1957

Lot Details

  • 0.47 Acre Lot

Interior Spaces

  • 19,510 Sq Ft Home
  • 2-Story Property

Kitchen

  • Oven or Range
  • Dishwasher

Bedrooms and Bathrooms

  • 35 Bedrooms
  • 35 Bathrooms

Laundry

  • Laundry in unit
  • Dryer
  • Washer

Parking

  • 18 Parking Spaces
  • Covered Parking

Pool

  • In Ground Pool
  • Fence Around Pool

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Mounted To A Wall or Window

Listing and Financial Details

  • Assessor Parcel Number 2269-009-031

Community Details

Recreation

  • Community Pool

Additional Features

  • 18 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1957

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 19510
  • Lot Acreage: 0.4729
  • Probate: No
  • Stories: 2
  • Year Built: 1957
  • Number Of Photos: 12
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 35
  • Common Walls: Attached
  • Laundry: Community, In Unit
  • Total Bathrooms: 35.00
  • Equipment: Dryer, Washer, Dishwasher, Range/Oven
  • Price Per S Q F T: 468.99

Exterior Features

  • Other Structures: None
  • Pool Description: Association Pool, Fenced
  • Pool: Yes

Garage/Parking

  • Parking Garage: Covered Parking
  • Total Parking: 18

Utilities

  • Cooling: Wall/Window
  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 48.94
  • Assessed Improvement Value: 3022137
  • Assessed Land Percent: 51.06
  • Assessed Land Value: 3153535
  • Total Assessed Value: 6175672
  • Assessor Parcel Number: 2269-009-031
  • Lot Size Area: 20633

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 14.28
  • Number Of Units: 18
  • Total Annual Expense: 211455
  • Type Of Units: 18
  • Vacancy Allow Percent: 4.00
  • Vacancy Rate: 1 Unit

Range of Values:

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List Price
Sold Price
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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
12/29/2022 12/29/22 Sold $8,750,000 -4.4% $448 / Sq Ft
10/20/2022 10/20/22 For Sale $9,150,000 +55.7% $469 / Sq Ft
05/22/2019 05/22/19 Sold $5,875,000 -1.3% $301 / Sq Ft
01/11/2019 01/11/19 Price Changed $5,950,000 -4.8% $305 / Sq Ft
09/04/2018 09/04/18 Price Changed $6,250,000 -3.8% $320 / Sq Ft
07/09/2018 07/09/18 For Sale $6,500,000 -- $333 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Brett Sanson

    Seller's Agent in 2022

    Brett Sanson

    Marcus & Millichap

    (818) 212-2700

    5 in this area

    23 Total Sales

    Brett Sanson
    Section Image
  • Jeff Louks

    Seller Co-Listing Agent in 2022

    Jeff Louks

    Marcus & Millichap

    (818) 212-2700

    5 in this area

    64 Total Sales

    Jeff Louks
    Section Image
  • Kelly Morgan

    Buyer's Agent in 2022

    Kelly Morgan

    KW Advisors

    (310) 836-3638

    1 in this area

    29 Total Sales

    Kelly Morgan
    Section Image
  • Daniel Withers

    Seller's Agent in 2019

    Daniel Withers

    Matthews Real Estate Investment Services

    (310) 365-5054

    49 Total Sales

    Daniel Withers
    Section Image
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Map

Source: The MLS

MLS Number: 22-210683

The MLS

California Los Angeles County Sherman Oaks 91423

5008 Hazeltine Ave, Sherman Oaks, CA

This home is located at 5008 Hazeltine Ave, Sherman Oaks, CA 91423 since 20 October 2022. This property was built in 1957. 5008 Hazeltine Ave is a home located in Los Angeles County with nearby schools including Chandler Elementary, Ulysses S. Grant Senior High School, and Riverside Drive Charter Elementary School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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