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12958 Valleyheart Drive

Studio City, CA 91604
  • $6,500,000
  • STATUS: Active
  • ON SITE: 114 Days
  • ID#: SR22074354
UPDATED: 63 min ago
$6,500,000
  • 0
    BEDS
  • 0.54
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1962
County:

School Ratings & Info

Description

Value-Add Opportunity! 16 Unit Mid-Century Retro Garden Style Apartments in Prime Class "A" Location. Studio City is known as "The Jewel of The Valley". Close to New $100 Million Dollar Project-Shops at Sportsman's Lodge and $500 Million Dollar Project by Midwood. 1 block to Iconic Ventura Blvd & Ralphs Market. Close to Best Restaurants, Golf & Tennis Courts, Riverwalk Etc. Large units with Homestyle living and great privacy. Approx. 15,293 sf on .54 Acres (23,710) plus LAR-3 Zone. First time on the market in over 57 years! A Rare Opportunity for Investors to purchase a 16 Unit building with 8-Units Unrented & Decontrolled plus Rent Ready. 8- additional Units are rented 60% under market subject to Rent Control. New owners can immediately rent 8- units and achieve Maximum Rents. Great Unit Mix with 2- 3Br+2Ba, 3- 2Br+2Ba, 11-1Br+1Ba. 3 Bedroom Unit ideal for owners. Note! Current Rents on Financial Statement reflects all Units Rented and at Fair Market Rent but is Projected Income. New owner can Add Value through Capital Improvements, Increased Depreciation & Rent Growth. Also, a possibility to build up to 29 Units on current R-3 Zone. (Buyer to Verify). There's an 18 x40 Olympic Style heated pool, separate laundry room, separate yards, balconies, open floor plans, views, vaulted ceilings, large closets, built-ins, hardwood floors and fireplaces in many units. Separate Gas & Electric Meters. Soft Story Retrofit has been completed and 100% Copper Plumbing. 21 car parking with 11 covered. This is a Rare Find & Opportunity in Class "A" Location. Hurry!!

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Based on information from CRISNet MLS as of 2022-08-14T16:57:21.87. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, 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 the CSMAR MLS. 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.

Based on information from the i-Tech MLS as of 2022-08-14T16:57:21.87. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.trulinerealty.com/homes/127935150
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12958 Valleyheart Drive Studio City, CA 91604

  • Price: $6,500,000
  • Status: Active
  • On Site: 114 Days
  • Updated: 63 min ago
  • ID#: SR22074354
0
Beds
0
Baths
0
½ Baths
0.54
Acres
1962
Built
Neighborhood:
Stud - Studio City
County:
Los Angeles
Area:
Stud - Studio City
Property Description
Value-Add Opportunity! 16 Unit Mid-Century Retro Garden Style Apartments in Prime Class "A" Location. Studio City is known as "The Jewel of The Valley". Close to New $100 Million Dollar Project-Shops at Sportsman's Lodge and $500 Million Dollar Project by Midwood. 1 block to Iconic Ventura Blvd & Ralphs Market. Close to Best Restaurants, Golf & Tennis Courts, Riverwalk Etc. Large units with Homestyle living and great privacy. Approx. 15,293 sf on .54 Acres (23,710) plus LAR-3 Zone. First time on the market in over 57 years! A Rare Opportunity for Investors to purchase a 16 Unit building with 8-Units Unrented & Decontrolled plus Rent Ready. 8- additional Units are rented 60% under market subject to Rent Control. New owners can immediately rent 8- units and achieve Maximum Rents. Great Unit Mix with 2- 3Br+2Ba, 3- 2Br+2Ba, 11-1Br+1Ba. 3 Bedroom Unit ideal for owners. Note! Current Rents on Financial Statement reflects all Units Rented and at Fair Market Rent but is Projected Income. New owner can Add Value through Capital Improvements, Increased Depreciation & Rent Growth. Also, a possibility to build up to 29 Units on current R-3 Zone. (Buyer to Verify). There's an 18 x40 Olympic Style heated pool, separate laundry room, separate yards, balconies, open floor plans, views, vaulted ceilings, large closets, built-ins, hardwood floors and fireplaces in many units. Separate Gas & Electric Meters. Soft Story Retrofit has been completed and 100% Copper Plumbing. 21 car parking with 11 covered. This is a Rare Find & Opportunity in Class "A" Location. Hurry!!
Exterior Features

Architectural Style Mid Century Modern Carport Spaces 11.00 Construction Materials Frame Direction Faces North Entry Location Valley Heart Dr Fence YN Yes Fencing Fair ConditionNeeds RepairWood Foundation Details Slab Levels Two Lot Features Back YardGardenLandscapedLawnLevel With StreetLot 20000-39999 SqftRectangular LotLevelNear Public TransitPark NearbyPavedSecludedSprinkler SystemValue In LandYard Lot Size Area 23710.0000 Lot Size Dimensions 99X240 Parking Features CarportCoveredAsphaltGuestOn SiteUncovered Parking Total 21.00 Parking YN Yes Road Frontage Type City Street Road Surface Type Paved Roof Tar/Gravel Uncovered Spaces 10.00 View Mountain(S)NeighborhoodPoolRiverValley View YN Yes Waterfront Features River Front

Interior Features

Appliances Built-In RangeDishwasherDisposalGas OvenGas RangeGas CooktopHigh Efficiency Water HeaterHot Water CirculatorRange Hood Appliances YN Yes Common Walls 2+ Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Door Features Sliding Doors Fireplace Features Living RoomGasGas Starter Fireplace YN Yes Flooring CarpetVinylWood Heating CentralFireplace(S)Wall Furnace Heating YN Yes Interior Features BalconyCathedral Ceiling(S)Copper Plumbing FullHigh CeilingsLiving Room BalconyOpen FloorplanStorage Laundry Features Common AreaDryer IncludedWasher Included Laundry YN Yes Room Type KitchenLiving RoomMain Floor Bedroom

Property Features

Accessibility Features Doors - Swing InParking Additional Parcels YN No Association YN No Community Features CurbsGolfParkMountainousValley Electric Standard Land Lease YN No New Construction YN No Pool Features PrivateFencedGuniteHeatedTile Pool Private YN Yes Property Attached YN Yes Property Condition Additions/AlterationsFixerRepairs Cosmetic Property Sub Type Apartment Security Features Fire And Smoke Detection SystemResident ManagerSmoke Detector(S) Senior Community YN No Sewer Public SewerSewer Paid Spa Features None Spa YN No Special Listing Conditions StandardTrust Subdivision Name Other Includes Lot's 11 & 12 Utilities Electricity ConnectedNatural Gas ConnectedPhone AvailableSewer ConnectedWater Connected Water Source Public Zoning Lar3

Listing provided courtesy of Mike Monteleone, CA DRE# 00404713, of Monteleone Real Estate,Inc.


Based on information from CRISNet MLS as of 2022-08-14T16:57:21.87. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, 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 the CSMAR MLS. 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.

Based on information from the i-Tech MLS as of 2022-08-14T16:57:21.87. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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2999 Overland Ave., Suite 116
Los Angeles CA, 90064