$11,500,000 Price Analysis   ♡   Valley Village, CA 91607 41 bed 38 bath 28,037 SqFt ($410/SqFt) 0.28 acre lot. Built 2018 Listed 2024-04-01, Taxes $83,269 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
We are proud to present The Radford
* Sale Pending *A 21-unit condominium property located at 4725 Radford Ave in prime Valley Village, CA. This listing is part of a 3 property portfolio with 57 total condos, all in the South Valley and all built by the seller in 2018.Built in 2018 to condo specifications, this property is 100% free of all rent control. The 28, 037 sqft building sits on a 0.28 acre lot and it boasts an excellent unit mix of (4) 1 Bed / 1 Bath condos, (14) 2 Bed / 2 Bath condos and (3) 3 Bed / 2 Bath condos, with an average size of 788sf, 1, 184sf and 1, 429sf, respectively. Of the 21 condos, 19 are market-rate and 2 are low-ncome restricted (both low-income restricted condos are 2 Bed).The property has a gated, double-subterranean parking lot with four levels of residential above. The 1st floor has 6 condos while the 2nd, 3rd and 4th floors all have 5 condos. The top floor is reserved for 5 pretty penthouses. These modern and luxury condos are fully equipped with central A/C, new stainless steel appliances, in unit washer/dryer, open floor plan kitchen, dining area, large living room, wood-inspired vinyl floors and a private balcony/patio. The property is individually metered all utilities, including water, which keeps the landlord's utility expenses to near nothing.
The building generates additional income through renting out extra parking spaces and seven storage spaces to tenants for additional charge. The building also has 14.8kwp solar panels and EV chargers which provide the landlord with extra income.Currently, this condo building is being operated as apartment rentals and the building is 100% occupied with all tenants paying rent. The 21 condos bring in a combined $63, 500 of rent per month or $762, 000 per year. A recent rent survey suggests full market-rent potential at $75, 300 per month or $904, 000 per year, presenting an investor with approximately 19% upside potential.These condos offer an excellent exit strategy to sell them off individually. A survey of recently sold condos in the South Valley show that newer construction 2 and 3 bedroom condos are selling for an average of $655 per sqft. With the building currently priced at $410 per sqft, there's immense profit potential for an investor who's willing to put in the time to sell these condos individually. Importantly, selling these individually would allow the buyer to avoid expensive ULA transfer taxes on the exit. The Radford is perfectly located in Valley Village, within close proximity to Gelson's, Starbucks, Moorpark park and plenty of bars, restaurants and shopping. The property has quick access to the 101, 170 and 405 freeways, allowing for easy commuting to anywhere throughout Los Angeles and beyond. Its proximity to Studio City, Sherman Oaks, Toluca Lake, Burbank and Hollywood positions it as an ideal home for those seeking access to the best the Valley has to offer.
Presented by Filip Niculete at
Marcus & Millichap.
Property MLS #24-374897 from TheMLSCLAW
Full Bathrooms: 38
Heating Features: Central
Lot Size Dimensions: 120x100
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 11987
Parking Total: 42
Calculated Total Monthly Association Fees: 0
Number of Units: 21
Unit Features: 1 BedsTotal: 1, 1 BathsTotal: 1, 1 SquareFeet: 11300, 2 BedsTotal: 2, 2 BathsTotal: 2, 2 SquareFeet: 51104, 3 BedsTotal: 3, 3 BathsTotal: 2, 3 SquareFeet: 12900
County: Los Angeles
Cap Rate: 4.56
Directions: Radford & Riverside
Source Property Type: Residential Income
Area: Valley Village
Source Neighborhood: Valley Village
Parcel Number: 2355-014-178
Postal Code Plus 4: 4096
Zoning: LAR3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $5,077,012 + $1,756,941 $6,833,953 | $83,269 |
| 2021 | $4,977,463 + $1,722,492 $6,699,955 | $82,111 |
| 2020 | $4,926,426 + $1,704,830 $6,631,256 | $82,491 |
| 2019 | $3,868,620 + $1,671,402 $5,540,022 | $11,496 |
| 2018 | $1,190,000 + $1,638,630 $2,828,630 | $34,045 |
| 2017 | $unknown + $1,606,500 $1,606,500 | $19,299 |
| 2016 | $375,000 + $1,200,000 $1,575,000 | $18,987 |
| 2015 | $51,175 + $33,017 $84,192 | $1,136 |
| 2014 | $50,173 + $32,371 $82,544 | $1,150 |
| 2013 | $49,947 + $32,225 $82,172 | $1,150 |
| 2012 | $48,968 + $31,594 $80,562 | $1,163 |
| 2010 | $48,008 + $30,975 $78,983 | $1,149 |
| 2009 | $47,764 + $30,818 $78,582 | $1,111 |
| 2009 | $47,650 + $30,744 $78,394 | $1,111 |
| 2008 | $46,828 + $30,214 $77,042 | $1,071 |
| 2007 | $45,910 + $29,622 $75,532 | $1,027 |
$11,500,000
TheMLSCLAW
Listing removed 2021-01-28
$0
TheMLSCLAW
Listed for rent 2021-01-19
$5,400
TheMLSCLAW
Sold 2015-08-25
$1,575,000
Public Record
Sold 1977-10-17
$21,500
Public Record
Year Built: 2018
Levels: Three Or More Levels
Living Area Source: Vendor Enhanced
Property Age: 6
Year Built Source: Vendor Enhanced
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.