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5511 Corteen Place, Valley Village, CA 91607
$2,492,500
5511 Corteen Place, Valley Village, CA 91607View this property at 5511 Corteen Place, Valley Village, CA 91607
5511 Corteen PlaceValley VillageCA91607
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Property Description
Outstanding Opportunity to own a well located property with below market rents. There is approximately 22% upside in the rents. This is based on asking rents on the same street for same period units that have had some updating. A new owner should be able toachieve market rents through scheduled annual rent increases allowed by L.A. Rent Stabilization Ordinance and tenant turnovers.There is secure front intercom access and a remote controlled parking gate with plentiful off-street parking. There is an excellent unit mix consisting of ten (10) 2 BD+1.5 BA and two (2) 1 BD+1 BA units. These are spacious units averaging955 Sq.Ft. for the 2 BD's and 835 Sq.Ft. for the 1 BD's. Most of the units have walk-thru style kitchens. Two upstairs units have largebalconies and each floor has an interior walk-in storage room that was previously rented out. There has been some cooper pipingreplacement and a new building water heater tank was installed in 2013. Excellent assumable loan (optional - see financial information below).The property is located between Chandler and Burbank just south east of the Whitsett and Burbank intersection. It is centrally located just north of Sherman Oaks and Studio City with easy access to the 101 Freeway.
Full Property Details
Full Property Details for 5511 Corteen Pl
General
- Sold For: $2,492,500
- Status: Closed
- Type: Multi-Family
- MLS ID: SR13248920
- Added to Site: 3, 786 day(s) ago
Interior
- Interior Features: 2 Staircases
Rooms
Other Rooms
- Laundry: Community
Additional Information
- Pool Description: No Pool
Location
- County: Los Angeles
Heating & Cooling
- Cooling Type: Wall/Window Air Conditioning
- Heating Type: Wall Heater
Utilities
- Sewer: In Street
- Water: Water District, Public
Structural Information
- # Buildings: 1
- Stories/Levels: Two Level
- Stories Description: Two Level
- Square Feet: 11,219
- Year Built: 1963
Unit Information
Unit 1
- Total Bathrooms: 1.5
- Bedrooms: 2
Unit 2
- Total Bathrooms: 1.5
- Bedrooms: 2
Unit 3
- Total Bathrooms: 1.5
- Bedrooms: 2
Unit 4
- Total Bathrooms: 1.5
- Bedrooms: 2
Lot Features
- Lot Size (Acres): 0.286
Financial Considerations
- Terms: Cash, Cash to New Loan
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Schools
Schools serving 5511 Corteen Pl
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
12215 Albers St, N Hollywood, CA 91607 | K-5 | 0.2 mi | |
4525 Irvine Ave, N Hollywood, CA 91602 | 6-8 | 1.5 mi | |
5231 Colfax Ave, N Hollywood, CA 91601 | 9-12 | 0.9 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 5511 Corteen Pl
Date
Details
Price
Change
Source
9/30/2014
Sold
$2,492,500
—
MLS
2/21/2014
Price Reduced
$2,492,500
-0.1%
MLS
12/17/2013
Listed
$2,495,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
5511 Corteen Place, Valley Village, CA 91607 (MLS# SR13248920) is a Multi-Family property that was sold at $2,492,500 on September 30, 2014. This property was listed by Greg Trotter from our Sherman Oaks Office.Want to learn more about 5511 Corteen Place? Do you have questions about finding other Multi-Family real estate for sale in Valley Village? You can browse all Valley Village real estate or contact a Coldwell Banker agent to request more information.