4725 Radford Avenue
Valley Village, CA, 91607 $ 11,500,000
Bedrooms41 Baths38.0 Sq 28,037 Monthly Estimate*
$ 80,331
Listed by Marcus & Millichap
for $11,500,000 with 41 bedrooms and 38 full baths. This 28,037 square foot home was built in 2018 on a lot size of 0.2752.
We are proud to present "The Radford", 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-income 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 beautiful 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 just $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.
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FeaturesGeneralHeating Central
Cooling CentralAir
Appliances Dryer Washer
Zoning LAR3
Year Built 2018
Levels ThreeOrMore
Gross Income 762154.0
County Los Angeles
Net Operating Income 524074.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N Y
Special Listing Conditions Standard
Status Active
Directions Radford & Riverside
City Valley Village
View Y/N N
Senior Community Y/N N
Total Units 21
MLS Area VVL - Valley Village
Lot Size Square Feet 11987.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Radford
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 10
Standard Status Active
Cap Rate 4.56
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ExteriorParking Features Garage Gated
Total Parking 42.0
Lot Size Area 11987.0
Number of Buildings 1
Spa N
Building Area Total 28037.0
Lot Dimensions 120x100
Lot Size Acres 0.2752
Lot Size Units SquareFeet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 0
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Street Suffix Avenue
Total Bedrooms 41
Electric On Property Y/N N
Total Baths 38
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $80,331
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Valley Village, CA
Average List Price $4,718,750
Percent of Sale Price 59%
About Valley Village, CA 30,228 Population
7% Since 2002
$ 57,870 Median Income
40.27 Median Age
21% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
4/1/2024 | $11,500,000 | | Listed Price |