We are proud to present 5222-5228 Hermitage Avenue - a value add real estate opportunity located in Valley Village, CA. The 20 unit building is comprised of 1- Studio, 4- 1 bed/1 bath, 1- 1 bed/1.5 bath, 2- 2 bed/1 bath, 9- 2 bed/2 bath, 2- 2 bed/2.5 bath and 1- 3 bed/2 bath units. Constructed in 1948 & 1970, the 20 units sits on 2 APNs which eliminates the need for an on-site manager. The property spans 18,009 gross square feet, and is set on a total 0.52-acre lot. The property has ample gated and garage parking for tenants with easy access through the front or either side of the properties. To enhance the quality of living for residents, the property features a smoke-free environment, intercom, laundry facilities and pool.One of this property's significant attractions is the great value-add potential. Current rents at the property are approximately 33% below the market rate, presenting a significant opportunity for the buyer. Assuming the buyer can turn over all units and achieve market rents throughout, we estimate that the units could bring in about $54,000 in gross rental income each month, or about $650,000 per year, increasing the buyer's CAP rate to 7.55%! The location of 5222-5228 Hermitage Ave in Valley Village is particularly noteworthy with a Walk Score of 79 (Very Walkable). Valley Village is a desirable community within the San Fernando Valley, known for its residential charm, accessibility, and convenience. The property benefits from its proximity to key transportation routes, shopping, dining, and entertainment options, as well as its closeness to major employment centers. This prime location not only enhances the living experience for tenants but also contributes to the property's overall attractiveness as an investment, by supporting sustained demand and the potential for rental growth. The blend of a well-maintained property, a diverse unit mix, and a prime location makes this asset a compelling opportunity for investors looking to capitalize on the Valley Village rental market.
Property Details
Property Features
Property Information:
Year Built: 1970
Stories: 2
Living Area: 18,009 SqFt
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (818) 212-2700
Listing Agent: Filip Niculete
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 34
Lot Features
Lot Information:
Lot Size: 0.52 Acres
School Info
Assigned Schools Information:
North Hollywood Senior High School, Public Magnet Grades 9-12
Daniel Pearl Journalism & Communications Magnet, Public Magnet Grades 9-12
Math, Science, & Technology Magnet Academy at Roosevelt High School, Public Magnet Grades 9-12
Walter Reed Middle School, Public District Grades 6-8
Studio, Public District Grades 6-8
Burbank Boulevard Elementary School, Public District Grades KG-5
Melrose Avenue Elementary School, Public Magnet Grades KG-6
Academy For Enriched Sciences, Public Magnet Grades 1-5
Other
Directions Information:
Directions: Hermitage & Magnolia
Price Information
Listing Price Info
Price Summary:
List Price: $6,100,000
Price Per SqFt: $339/SqFt
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $5.1M more than the Median Sold Price and $293/SqFt less than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24384619
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (818) 212-2700
Listing Agent: Filip Niculete
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 5/5/2024, 1:20:37 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
We're sorry, we currently don't have sales or tax history data for this listing.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
7
/10
Burbank Boulevard Elementary School
12215 Albers St
Distance between this listing and this school0.36 miles
Public District Grades KG-5
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school6.42 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school14.17 miles
Public Magnet Grades 1-5
Middle School
6
/10
Walter Reed Middle School
4525 Irvine Ave
Distance between this listing and this school1.17 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school10.25 miles
Public District Grades 6-8
High School
7
/10
North Hollywood Senior High School
5231 Colfax Ave
Distance between this listing and this school0.64 miles
Public Magnet Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school6.09 miles
Public Magnet Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school13.93 miles
Public Magnet Grades 9-12
Assigned Schools
7
/10
Burbank Boulevard Elementary School
12215 Albers St
Distance between this listing and this school0.36 miles
Public District Grades KG-5
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school6.42 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school14.17 miles
Public Magnet Grades 1-5
Assigned Schools
6
/10
Walter Reed Middle School
4525 Irvine Ave
Distance between this listing and this school1.17 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school10.25 miles
Public District Grades 6-8
Nearby Schools
5
/10
New Horizons Charter Academy
5955 Lankershim Blvd
Distance between this listing and this school1.31 miles
Public Charter Grades KG-8
Assigned Schools
7
/10
North Hollywood Senior High School
5231 Colfax Ave
Distance between this listing and this school0.64 miles
Public Magnet Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school6.09 miles
Public Magnet Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school13.93 miles
The neighbors living near this home have an average income of $59,267. The most common annual income of people living in Los Angeles, CA is between $35k-100k. Residents typically live in single, no kids family. The majority of residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 5222-5228 Hermitage Ave
What is the listing price of this property?
The listing price of 5222-5228 Hermitage Ave property is $6,100,000.
What type of property is this?
The property 5222-5228 Hermitage Ave is a house located in Valley Village, California, 91607.
Is this property for sale now?
Active Listing: 5222-5228 Hermitage Ave is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 5222-5228 Hermitage Ave are: Burbank Boulevard Elementary School: GreatSchools Rating 7/10Melrose Avenue Elementary School: GreatSchools Rating 8/10Academy For Enriched Sciences: GreatSchools Rating 9/10Walter Reed Middle School: GreatSchools Rating 6/10Studio: GreatSchools Rating 4/10North Hollywood Senior High School: GreatSchools Rating 7/10Daniel Pearl Journalism & Communications Magnet: GreatSchools Rating 8/10Math, Science, & Technology Magnet Academy at Roosevelt High School: GreatSchools Rating 8/10
How many bedrooms and bathrooms does this property have?
The property at 5222-5228 Hermitage Ave has 34 bedrooms and 32 bathrooms.
What is the square footage of this property?
The property 5222-5228 Hermitage Ave is 18,009 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 5222-5228 Hermitage Ave is 1970.
Interested in 5222-5228 Hermitage Ave? Let's connect.
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This home is located at 5222-5228 Hermitage Ave in Valley Village, CA and zip code 91607 in the The San Fernando Valley neighborhood. This 18,009 square foot home, which was built in 1970, sits on a 0.52 acre lot. Features: 34 bedrooms, 32 bathrooms. It has been listed on Rocket Homes since April 26, 2024 and is currently priced at $6,100,000.
While more than 701 listings in Los Angeles, CA in April 2024 were sold above asking price, there were more than 204 listings sold at asking price, and more than 629 were sold below. Between March 2024 and April 2024, Los Angeles, CA real estate market has seen increase in the number of listings by 14.9%. In April 2024, listings were on the market for 34 days. During the same period, the median list price in this real estate market was $986,427.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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