5261 Whitsett Avenue

5261 Whitsett Ave, Los Angeles, CA 90001, USA

For Sale

$8,495,000

Property Description

Marcus and Millichap is pleased to present a twenty-eight (28) unit apartment building located at 5261 Whitsett Avenue in Valley Village, California. The subject property is situated in prime Valley Village location, north of West Magnolia Boulevard and east of Laurel Canyon Boulevard.

Flanked by Valley Glen to the north, North Hollywood to the east, Studio City to the south, and Sherman Oaks to the west, Valley Village is a suburban neighborhood filled with tree-lined streets and many desirable amenities. The main thoroughfare of Laurel Canyon Boulevard runs north to south, directly down the middle of Valley Village. Tenants of the subject property can take a short fifteen (15) minute walk to Laurel Canyon Blvd to visit Kulak’s Woodshed Theatre, Odessa Grocery, Diana’s Flowers, Miya Sushi, Royal Macaron, Burgerama Gourmet Burgers, and many more. Chandler Blvd is another main thoroughfare running east to west through the northern portion of Valley Village. The Metro Orange Line Busway runs along Chandler Blvd, providing easy public transportation to the area. For residents with a vehicle, the US-170 Freeway creates Valley Village’s eastern border, and the US-101 Freeway creates its southern border. The North Hollywood Recreation Center is located just across the 170 freeway, on Valley Village’s eastern border. The Tujunga Greenbelt is in the northwest section of Valley Village.

Built in 1957, this offering contains a good unit mix of twenty-one (21) one-bedroom/one-bathroom units and seven (7) two-bedroom/one-bathroom units. Each unit features spacious living rooms, hardwood floors throughout, large bedrooms with ample closet space, central HVAC, and ceiling fans throughout. The kitchens feature nice cabinetry, granite countertops, dishwashers, microwaves, and gas stoves. The bathrooms feature shower/tub combos with granite tile and a vanity. Select units were recently renovated. All units sit in the property’s main structure, a square-shaped building with a central courtyard. This courtyard is incredibly secure with gated entry access and features a community pool with surrounding recreation area. Behind the main front building there are plenty of carports available for the tenants. The front yard is a large grassy area with car parking on either side. This well-maintained property comes with on-site laundry and 33 onsite parking spaces. The property was recently updated with new electrical and copper plumbing. The soft story retrofit will be complete by the close of escrow. In the heart of Valley Village, this property provides dominant access to nearby commercial corridors, outdoor space, and transportation hubs. The property is also within walking distance to many places of worship and Kosher restaurants.

Situated in prime Valley Village, this offering presents an excellent opportunity for an investor to acquire a mid-size asset in a prime location with plenty of remaining value-add.

Contact Agent

Jason Tuvia

(818) 212-2735

Unit Mix

Twenty-one (21) 1 Bedroom / 1 Bathroom Units & Seven (7) 2 Bedroom / 1 Bathroom Units

Property Type

Multifamily

Submarket

Price

Size

21,879 SF

Total Units

Year Built

1957

Property Location

5261 Whitsett Ave, Los Angeles, CA 90001, USA

Property Description

Marcus and Millichap is pleased to present a twenty-eight (28) unit apartment building located at 5261 Whitsett Avenue in Valley Village, California. The subject property is situated in prime Valley Village location, north of West Magnolia Boulevard and east of Laurel Canyon Boulevard.

Flanked by Valley Glen to the north, North Hollywood to the east, Studio City to the south, and Sherman Oaks to the west, Valley Village is a suburban neighborhood filled with tree-lined streets and many desirable amenities. The main thoroughfare of Laurel Canyon Boulevard runs north to south, directly down the middle of Valley Village. Tenants of the subject property can take a short fifteen (15) minute walk to Laurel Canyon Blvd to visit Kulak’s Woodshed Theatre, Odessa Grocery, Diana’s Flowers, Miya Sushi, Royal Macaron, Burgerama Gourmet Burgers, and many more. Chandler Blvd is another main thoroughfare running east to west through the northern portion of Valley Village. The Metro Orange Line Busway runs along Chandler Blvd, providing easy public transportation to the area. For residents with a vehicle, the US-170 Freeway creates Valley Village’s eastern border, and the US-101 Freeway creates its southern border. The North Hollywood Recreation Center is located just across the 170 freeway, on Valley Village’s eastern border. The Tujunga Greenbelt is in the northwest section of Valley Village.

Built in 1957, this offering contains a good unit mix of twenty-one (21) one-bedroom/one-bathroom units and seven (7) two-bedroom/one-bathroom units. Each unit features spacious living rooms, hardwood floors throughout, large bedrooms with ample closet space, central HVAC, and ceiling fans throughout. The kitchens feature nice cabinetry, granite countertops, dishwashers, microwaves, and gas stoves. The bathrooms feature shower/tub combos with granite tile and a vanity. Select units were recently renovated. All units sit in the property’s main structure, a square-shaped building with a central courtyard. This courtyard is incredibly secure with gated entry access and features a community pool with surrounding recreation area. Behind the main front building there are plenty of carports available for the tenants. The front yard is a large grassy area with car parking on either side. This well-maintained property comes with on-site laundry and 33 onsite parking spaces. The property was recently updated with new electrical and copper plumbing. The soft story retrofit will be complete by the close of escrow. In the heart of Valley Village, this property provides dominant access to nearby commercial corridors, outdoor space, and transportation hubs. The property is also within walking distance to many places of worship and Kosher restaurants.

Situated in prime Valley Village, this offering presents an excellent opportunity for an investor to acquire a mid-size asset in a prime location with plenty of remaining value-add.

Contact Agent

Jason Tuvia

(818) 212-2735

(818) 448-4415

CalBRE #01772495

Unit Mix

Twenty-one (21) 1 Bedroom / 1 Bathroom Units & Seven (7) 2 Bedroom / 1 Bathroom Units

Property Details

Property Type

Multifamily

Submarket

Valley Village

Price

$8,495,000

Price per Unit

$303,393

Price per SF

$388.27

Status

For Sale

Size

21,879 SF

Total Units

28

Year Built

1957

Property Location

5261 Whitsett Ave, Los Angeles, CA 90001, USA