4725 Radford Avenue, Valley Village

$11,500,000

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6

Beds

5

Baths

28,037

Square feet

0.28

Acres

About 4725 Radford Avenue

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.

Features of 4725 Radford Avenue

MLS® # 24374897
Price $11,500,000
Bedrooms 6
Bathrooms 5.00
Square Footage 28,037
Acres 0.28
Year Built 2018
Type Residential Income
Status Active

Community Information

Address 4725 Radford Avenue
Area VVL - Valley Village
City Valley Village
County Los Angeles
Zip Code 91607

Amenities

Parking Spaces 42
Parking Garage, Gated
Garages Garage, Gated
Is Waterfront No
Has Pool No

Interior

Appliances Dryer, Washer
Heating Central
Cooling Central Air
Has Basement No
Fireplace No
Stories Three Or More

Additional Information

Date Listed March 29th, 2024
Days on Market 50
Zoning LAR3
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentFilip Niculete
OfficeMarcus & Millichap

Listing Map

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