MarketPier

5807 LAUREL CANYON - Valley Village, CA 91607

$20,695,000
Listing Description

its 25 acres of retail and entertainment destinations. More than 25% of the apartments have been completely remodeled to include in-unit washer/dryers, stainless steel appliances, quartz countertops, wood flooring, and upgraded bathrooms. A new investor may continue this remodeling program and apply the same blueprint to the remaining units in order to capture the asset's significant rent upside.Constructed in 1985, NoHo Centre features an impressive amenities package, with central air/heat in all units, at least one balcony in every unit (except singles), large walk-in pantries in all units, at least one garage parking space per bedroom, a laundry room on every floor, an elevator, and a landscaped courtyard. The spacious floorplans range from 729 to 812 square feet for one-bedroom units, while the two-bedroom units average approximately 1,027 square feet each. Within the past year, the property has been upgraded with a new cool roof coating, new fence, and new garage paint.

Listing Information
MLS Number
20543932
APN/Parcel ID
2340012024
Type
Multifamily
Sub Type
Multifamily
No Units
56
Price / Unit
$369,554
Gross Income
$1,281,717
Net Income
$767,821
Rent Multiplier
16.15
Listing Date
1/14/2020
Days Active
17
Last Updated
4/2/2020
Listing Provided By
Roderick 'Rick' Raymundo
Marcus & Millichap
BRE# 01357019

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