7243 VINELAND AVE

Sun Valley, CA 91352

$2,070,000

Sold Price
16

bed Beds

12

shower Baths

8,144 sqft

straighten $276 / sqft

1953

calendar_month Built

Property Description

We are pleased to announce the sale of 7243-7249 Vineland Avenue, a 12-unit multifamily property situated just one block from the cities of Burbank and North Hollywood, within Sun Valley, CA. Consisting of two separate six-unit buildings occupying two contiguous parcels, the property offers an investor the chance to add value by capitalizing on the significant rent upside, as current rents are approximately 61% below the market level. Expenses and deferred maintenance passed along to the buyer are limited by a variety of factors. The buildings do not appear on the LADBS seismic retrofit list (Buyer to verify), potentially saving an investor from an otherwise substantial capital expense. With one exception, every apartment has been upgraded with new laminate flooring and new granite countertops, while the common area features new roofs on the carport and storage area, new asphalt, and a new gate.

Interior Features

Bedroom Information
Bedrooms 16
Bathroom Information
Bathrooms 12
Interior Information
Features Other
Cooling Type Air Conditioning

Listing Information

Address 7243 VINELAND AVE
City Sun Valley
State CA
Zip 91352
County Los Angeles
Listing Agent Roderick 'Rick' Raymundo DRE#01357019
Courtesy Of Marcus & Millichap
MLS 19470396
Close Price $2,070,000
Close Date Wednesday, January 15th, 2020
Status Closed
Type Residential Income
Structure Size 8,144
Lot Size 12,482
Year Built 1953
DOM 167

Exterior Information

Maps

Listing information courtesy of: Roderick 'Rick' Raymundo, Marcus & Millichap 818-219-6146. *Based on information from the Association of REALTORS/Multiple Listing as of Mar 24th, 2020 at 11:11 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.