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Real Living Pacific Realty
(800)660-9140

5511 Corteen Place, VALLEY VILLAGE CA, 91607

(Closed)
Sold Price:
$2,492,500
Date:09/30/2014
|
11,219 sqft
|
MLS# SR13248920
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Listing Provided Courtesy Of: Coldwell Banker
Last Updated: 12/18/2014 2:17 PM
Description for 5511 Corteen Place VALLEY VILLAGE, CA 91607
Outstanding Opportunity to own a well located property with below market rents. There is approximately 22% upside in the rents. This is based on asking rents on the same street for same period units that have had some updating. A new owner should be able toachieve market rents through scheduled annual rent increases allowed by L.A. Rent Stabilization Ordinance and tenant turnovers.There is secure front intercom access and a remote controlled parking gate with plentiful off-street parking. There is an excellent unit mix consisting of ten (10) 2 BD+1.5 BA and two (2) 1 BD+1 BA units. These are spacious units averaging955 Sq.Ft. for the 2 BD's and 835 Sq.Ft. for the 1 BD's. Most of the units have walk-thru style kitchens. Two upstairs units have largebalconies and each floor has an interior walk-in storage room that was previously rented out. There has been some cooper pipingreplacement and a new building water heater tank was installed in 2013. Excellent assumable loan (optional - see financial information below).The property is located between Chandler and Burbank just south east of the Whitsett and Burbank intersection. It is centrally located just north of Sherman Oaks and Studio City with easy access to the 101 Freeway.
Price
Sold Price:
$2,492,500
Sold Date:09/30/2014
Los Angeles
11,219 (approx)
SR13248920
Closed
Description
Outstanding Opportunity to own a well located property with below market rents. There is approximately 22% upside in the rents. This is based on asking rents on the same street for same period units that have had some updating. A new owner should be able toachieve market rents through scheduled annual rent increases allowed by L.A. Rent Stabilization Ordinance and tenant turnovers.There is secure front intercom access and a remote controlled parking gate with plentiful off-street parking. There is an excellent unit mix consisting of ten (10) 2 BD+1.5 BA and two (2) 1 BD+1 BA units. These are spacious units averaging955 Sq.Ft. for the 2 BD's and 835 Sq.Ft. for the 1 BD's. Most of the units have walk-thru style kitchens. Two upstairs units have largebalconies and each floor has an interior walk-in storage room that was previously rented out. There has been some cooper pipingreplacement and a new building water heater tank was installed in 2013. Excellent assumable loan (optional - see financial information below).The property is located between Chandler and Burbank just south east of the Whitsett and Burbank intersection. It is centrally located just north of Sherman Oaks and Studio City with easy access to the 101 Freeway.
Listing Information
Property Type: Multi-Family
12,463 Sq. Ft. Public Records 11,219 (approx)
$222.17 1963
Water District, Public
In Street, In Street, In Street
12 Total
Neighborhood
Room Information
Community
Interior Features
Window/Wall Unit
Wall Unit
Ground Level w/steps
2 Staircases
Exterior / Lot Features
12 Carport Spaces, 12 Parking Spaces, Assigned
None
No Pool
Curbs-Walks, Near Public Transit
Financial Considerations
2347007016
$14,352
2012
Cash, Cash To New Loan
Income ,$59,392
168636.0000
Semi Annually
Listing Price History

VALLEY VILLAGE Real Estate

VALLEY VILLAGE is located in California. VALLEY VILLAGE, California 91607 has a population of  28,821.

The median household income in VALLEY VILLAGE, California 91607 is $60,586. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in VALLEY VILLAGE 91607 is 38.6 years.

Sales History
Tax Info
Courtesy: Coldwell Banker Greg Trotter
The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
Information is deemed reliable but is not guaranteed.

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