12015 Kling St, Valley Village, CA 91607

12015 Kling St, Valley Village, CA 91607

Valley Village, CA

Property Description

The offering is a rare and attractive value add investment property located in Valley Village adjacent to Studio City. The property is situated in one of the trendiest neighborhoods in the San Fernando Valley, located just off of Laurel Canyon Blvd tenants are within close walking distance to a plethora of fine dining, shopping, and entertainment option. The asset is well maintained with little to no deferred maintenance and recent additions and upgraded copper plumbing. This is a brilliant opportunity for a savvy investor to acquire an ultra-prime Valley location with value-add potential of about 28%. There is an excellent unit mix consisting of eight (8) one (1)Bedroom / one (1) Bathroom units and, sixteen (16) two (2) Bedroom/ two (2) Bathroom units, very desirable for today’s rental market. There is ample space for parking as well in the back of the building. Seismic Retrofit has been completed. All units are separately metered gas and electric and include their own private patio’s. This valuable asset is available for sale for the first time in 50 Years!

Property Features

  • Sale Price: $7,125,000
  • Area Size: 23,973 Sq. Ft.
  • Land Area: 0.65 acres
  • Year Built: 1961
  • Listing Date: 9/20/2023
  • Closing Date: 12/27/2023
  • Units: 24
  • Current GRM: 12.84
  • Price Per Unit: $322,917
  • Market Cap Rate: 5.0%
  • Current NOI: $387,204

Lyon Stahl Investment Real Estate

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