4215 Vineland AVE, Studio City, CA 91602
4215 Vineland AVE, Studio City, CA 91602
4215 Vineland AVE, Studio City, CA 91602
12
See all 12 photos
$7,975,000
Est. payment /mo
Save
45 Beds
45 Baths
28,494 SqFt
Price Dropped by $475K

4215 Vineland AVE Studio City, CA 91602

Save
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Herb Rim

Herb Rim

+1(818) 699-9179

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 28,494 sqft

Price per Sqft $279

MLS Listing ID 26838789

Bedrooms 45

HOA Y/N No

Year Built 1962

Lot Size 0.917 Acres

Property Description

4215 Vineland Ave is a 32-unit value add multifamily opportunity on a huge lot in the heart of Studio City, offered at $7,975,000 by a motivated Seller. The property features 20 vacant units ready for immediate renovation that would achieve a 6.5% plus cap rate after estimated interior and exterior renovation costs. The remaining 12 occupied units have over 75% rental upside that could be unlocked over time as additional tenants relocate.The property also presents a compelling development angle: our architect designer has developed a site plan for adding 12 additional units that include 4 attached ADUs and 8 detached ADUs. The plan was developed with an emphasis on keep building costs low and retaining at least 33 parking spaces. The 8 detached ADUs would be exempt from city and state rent control for 15 years. A preliminary bid from a licensed general contractor prices the construction of the 12 ADUs at $1,350,000, bringing the total unit count to 44 and the cap rate to an estimated 8.28%.This asset is in an excellent location. Only a 10-minute walk to Ventura Blvd and short distance to major studios such as Universal, Warner Brothers and NBC, tenants can enjoy a walking lifestyle with easy access to jobs, shops and restaurants. This is a rare opportunity to own a 32 or 44 unit that is almost completely upgraded in the heart of Studio City.

Location

State CA

County Los Angeles

Area Stud - Studio City

Zoning LAR3

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Parking Features Carport

Total Parking Spaces 34

Building

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2366019028

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Kelly Morgan Houze Real Estate Management #01898026

Go tour this home

4215 Vineland AVE

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Herb Rim

Herb Rim

Realtor License ID: 01870707

+1(818) 699-9179

Name
Phone*
Message

By checking this box, I agree to receive recurring marketing communication from Herb Rim, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

By checking this box, I agree to the Terms of Service and Privacy Policy of this website.

Experience Matters

Our team offers expert guidance and personalized service to make buying, selling, or investing in property smooth and stress-free. With deep market knowledge and a commitment to clear communication, we focus on achieving your real estate goals efficiently and effectively.

Trust

the best

  • 100
    Homes for Sale
  • $100000
    Sales Price
  • 100
    Total Listings
  • $100000
    Average Listing Price
};