5451 HERMITAGE AVE Valley Village, CA 91607

Built in 1963, this rent-controlled property boasts an excellent unit mix with 3 one-bed/one-bath units, 6 two-bed/two-bath units, and one very large 5-bed/2-bath townhouse owner's unit. Furthermore, three of the ten units will be delivered vacant. The current owners have been operating those three vacant units through Airbnb for the past year with great success, but we assume the buyer of this property will do the standard 1 year lease for these units. The property is situated on a very large lot of 13,545 SF and it is zoned LAR3, meaning you could build 17 units by right, or up to 23 units with the low-income density bonus. The property also does require some soft story retrofitting for the tuck under parking spots behind the building.This property presents an excellent and unique opportunity for an investor to acquire a very well located property, with very well taken care of units, with 3 vacancies and rental upside.