Valley Village, CA 91607 4725 Radford Ave
$11,500,000
Pending
4 more
Presented By: Filip Niculete with Marcus & Millichap
Home Details
We are proud to present "The Radford", a 21-unit condominium property located at 4725 Radford Ave in prime Valley Village, CA. This listing is part of a 3 property portfolio with 57 total condos, all in the South Valley, and all built by the seller in 2018.Built in 2018 to condo specifications, this property is 100% free of all rent control. The 28,037 sqft building sits on a 0.28 acre lot, and it boasts an excellent unit mix of (4) 1 Bed / 1 Bath condos, (14) 2 Bed / 2 Bath condos, and (3) 3 Bed / 2 Bath condos, with an average size of 788sf, 1,184sf, and 1,429sf, respectively. Of the 21 condos, 19 are market-rate and 2 are low-income restricted (both low-income restricted condos are 2 Bed).The property has a gated, double-subterranean parking lot with four levels of residential above. The 1st floor has 6 condos while the 2nd, 3rd, and 4th floors all have 5 condos. The top floor is reserved for 5 beautiful penthouses. These modern and luxury condos are fully equipped with central A/C, new stainless steel appliances, in unit washer/dryer, open floor plan kitchen, dining area, large living room, wood-inspired vinyl floors, and a private balcony/patio. The property is individually metered all utilities, including water, which keeps the landlord's utility expenses to near nothing. The building generates additional income through renting out extra parking spaces and seven storage spaces to tenants for additional charge. The building also has 14.8kwp solar panels and EV chargers which provide the landlord with extra income.Currently, this condo building is being operated as apartment rentals, and the building is 100% occupied with all tenants paying rent. The 21 condos bring in a combined $63,500 of rent per month, or $762,000 per year. A recent rent survey suggests full market-rent potential at $75,300 per month, or $904,000 per year, presenting an investor with approximately 19% upside potential.These condos offer an excellent exit strategy to sell them off individually. A survey of recently sold condos in the South Valley show that newer construction 2 and 3 bedroom condos are selling for an average of $655 per sqft. With the building currently priced at just $410 per sqft, there's immense profit potential for an investor who's willing to put in the time to sell these condos individually. Importantly, selling these individually would allow the buyer to avoid expensive ULA transfer taxes on the exit. The Radford is perfectly located in Valley Village, within close proximity to Gelson's, Starbucks, Moorpark park, and plenty of bars, restaurants, and shopping. The property has quick access to the 101, 170, and 405 freeways, allowing for easy commuting to anywhere throughout Los Angeles and beyond. Its proximity to Studio City, Sherman Oaks, Toluca Lake, Burbank and Hollywood positions it as an ideal home for those seeking access to the best the Valley has to offer.
Presented By: Filip Niculete with Marcus & Millichap
Interior Features for 4725 Radford Ave
Bedrooms
Total Bedrooms41
Bathrooms
1/4 Baths0
3/4 Baths0
Full Baths
Half Baths
Total Baths38
Other Interior Features
Air Conditioning Y/NYes
Heating Y/NYes
Total Stories
General for 4725 Radford Ave
AppliancesDryer, Washer
Cap Rate4.56
CityValley Village
CoolingCentral Air
CountyLos Angeles
Days on Market88
DirectionsRadford & Riverside
Garage Y/NYes
Gross Income762154
HOA / Comm AssnNo
HeatingCentral
LevelsThree Or More
Lot Size Square Feet11987
Lot Size UnitsSquare Feet
MLS AreaVVL - Valley Village
Net Operating Income524074
New ConstructionNo
NumberOfUnitsTotal21
Property TypeResidential Income
Senior Community Y/NNo
Standard StatusPending
StatusPending
Year Built2018
ZoningLAR3
Exterior for 4725 Radford Ave
Building Area Total28037
Lot Dimensions120x100
Lot Size Acres0.2752
Lot Size Area11987
Number of Buildings1
Parking FeaturesGarage, Gated
Total Parking42
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480