Sold
5008 Hazeltine Avenue
Sherman Oaks CA, 91423
$8,750,000
$448.49 per sqft
Sold
35 Beds
35 Baths
19,510 sqft
Residential
Built in 1957
Listed by Brett Sanson with Marcus & Millichap 818-212-2700
We are proud to present this 18-unit apartment building in a great Sherman Oaks location. The property was built in 1957 but is not subject to the LA City Rent Control (still subject to State Rent Control). There is an excellent unit mix that includes One One-Bedroom/One-Bath Unit, and Seventeen Two-Bedroom/Two-Bath Units. Thirteen of the units have been completely renovated including in-unit washer/dryers. The building system infrastructure has been upgraded to accommodate the remaining 5 units that do not have washer/dryers. Some of the renovations include calcutta quartz countertops, shaker cabinetry, vinyl plank flooring, upgraded windows and stainless-steel appliances. The units are built around a central courtyard that features a pool. The building has upgraded windows, upgraded roof, tiled entryway, beautiful landscaping and more. The residence is secured with gated access from the front and gated parking in the back (18 spaces). Ample street parking is also available. The property is just a quick drive away from plenty of dining, shopping and entertainment options on Ventura Blvd. A few blocks to the south is the 101 Freeway which provides easy access to the surrounding area and job opportunities. And for recreation, Sherman Oaks Park is just across the street from the property. This opportunity is perfect for an investor looking for a well-located, turn-key asset with accessible upside via a proven renovation program. Although built prior to 1978, 5008 Hazeltine is exempt from the City of Los Angeles' Rent Stabilization Ordinance ("RSO"). The City of Los Angeles had a program that allowed a landlord to file for a rent stabilization exemption on individual units upon significant capital expenditures. Previous ownership applied for an exemption on all 18 units and received approval from the City of Los Angeles deeming all 18 units RSO "exempt" on May 17th, 1983.
22210683
MLSⓇ ID
October 20, 2022
Listed
March 23, 2024
Updated
Map
5008 Hazeltine Avenue
Sherman Oaks CA, 91423
Interior Features
Total Stories
2
Bedrooms
35 Beds
Bathrooms
35 Baths
Appliances
Dishwasher, Dryer, Washer
Laundry Description
Common Area
Fireplace
No
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.47 Acres
Other Property Details
Area Name
SO - Sherman Oaks
Days on Market
62
Garage
No
Parking
Covered
Parking Total
18
View
No
County
Los Angeles
Pool
No
Pool Features
Association, Fenced
Zoning
LAR3
Buyer Agency Compensation
1%
Listing Contact: 818-212-2700
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 3/23/2024 at 1:41 AM UTC