Sold
12958 Valleyheart DR
STUDIO CITY CA, 91604
$5,900,000
$385.80 per sqft
Sold
15 Beds
13 Baths
15,293 sqft
Condo
Built in 1962
Value-Add Opportunity! 16 Unit Mid-Century Retro Garden Style Apartments in Prime Class "A" Location. Studio City is known as "The Jewel of The Valley". Close to New $100 Million Dollar Project-Shops at Sportsman's Lodge and $500 Million Dollar Project by Midwood. 1 block to Iconic Ventura Blvd & Ralphs Market. Close to Best Restaurants, Golf & Tennis Courts, Riverwalk Etc. Large units with Homestyle living and great privacy. Approx. 15,293 sf on .54 Acres (23,710) plus LAR-3 Zone. First time on the market in over 57 years! A Rare Opportunity for Investors to purchase a 16 Unit building with 8-Units Unrented & Decontrolled plus Rent Ready. 8- additional Units are rented 60% under market subject to Rent Control. New owners can immediately rent 8- units and achieve Maximum Rents. Great Unit Mix with 2- 3Br+2Ba, 3- 2Br+2Ba, 11-1Br+1Ba. 3 Bedroom Unit ideal for owners. Note! Current Rents on Financial Statement reflects all Units Rented and at Fair Market Rent but is Projected Income. New owner can Add Value through Capital Improvements, Increased Depreciation & Rent Growth. Also, a possibility to build up to 29 Units on current R-3 Zone. (Buyer to Verify). There's an 18 x40 Olympic Style heated pool, separate laundry room, separate yards, balconies, open floor plans, views, vaulted ceilings, large closets, built-ins, hardwood floors and fireplaces in many units. Separate Gas & Electric Meters. Soft Story Retrofit has been completed and 100% Copper Plumbing. 21 car parking with 11 covered. This is a Rare Find & Opportunity in Class "A" Location. Hurry!!
SR22074354CN
MLSⓇ ID
April 20, 2022
Listed
May 9, 2024
Updated
Map
12958 Valleyheart DR
STUDIO CITY CA, 91604
Interior Features
Total Stories
2
Bedrooms
15
Total Bathrooms
13
Appliances
Dishwasher, Dryer, Dryer Included, Laundry Area, Washer, Washer Included
Laundry Description
Dryer, Dryer Included, Laundry Area, Washer, Washer Included
Fireplace
Yes
Fireplace Description
Gas, Gas Starter, Living Room
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
Yes
Heating Description
Central, Wall
Exterior/Building Features
Lot Size
0.54 Acres
Roof
Tar and Gravel
Sewer
In Street Paid, Public Sewer
Other Property Details
Area Name
Studio City
Days on Market
119
Garage
No
Parking
Carport, Parking for Guests, Uncovered
Parking Total
21
View
Yes
View Description
River, Valley
County
Los Angeles
Water Source
Public
Pool
Yes
Pool Features
Fenced, Gunite, Heated, Private, Tile
Zoning
LAR3
Listed by Mike Monteleone with Monteleone Real Estate,Inc
Listing Contact: 818-449-7004
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Peter & Cindy Lorimer shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 5/9/2024