Sold
12958 Valleyheart Drive
Studio City CA, 91604
$5,900,000
$385.80 per sqft
Sold
15,293 sqft
Condo
Built in 1962
Listed by Mike Monteleone with Monteleone Real Estate,Inc 818-449-7004
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!!
SR22074354
MLSⓇ ID
April 20, 2022
Listed
March 23, 2024
Updated
Map
12958 Valleyheart Drive
Studio City CA, 91604
Interior Features
Total Stories
2
Interior Features
Balcony, Cathedral Ceiling(s), High Ceilings, Open Floorplan, Storage, Bedroom on Main Level
Appliances
Built-In Range, Dishwasher, Gas Cooktop, Disposal, Gas Oven, Gas Range, High Efficiency Water Heater, Hot Water Circulator, Range Hood, Dryer, Washer
Laundry Description
Common Area
Floor Description
Carpet, Vinyl, Wood
Fireplace
Yes
Fireplace Description
Gas, Gas Starter, Living Room
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
Yes
Heating Description
Central, Fireplace(s), Wall Furnace
Exterior/Building Features
Lot Size
0.54 Acres
Lot Features
Back Yard, Garden, Lawn, Landscaped, Level, Near Park, Near Public Transit, Paved, Rectangular Lot, Secluded, Sprinkler System, Street Level, Value In Land, Yard
Architectual Style
Mid-Century Modern
Roof
Tar/Gravel
Sewer
Public Sewer, Sewer Tap Paid
Other Property Details
Area Name
STUD - Studio City
Days on Market
119
Garage
No
Parking
Asphalt, Covered, Carport, Guest, On Site, Uncovered
Parking Total
21
View
Yes
View Description
Mountain(s), Neighborhood, Pool, River, Valley
County
Los Angeles
Water Source
Public
Pool
Yes
Pool Features
Fenced, Gunite, Heated, Private, Tile
Waterfront
Yes
Zoning
LAR3
Buyer Agency Compensation
1%
Listing Contact: 818-449-7004
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 3/23/2024 at 1:53 AM UTC