Ben Apartments 4717 Ben Ave 33 Unit Apartment Building $19,205,100 CAD ($581,973 CAD/Unit) 5% Cap Rate Valley Village, CA 91607
INVESTMENT HIGHLIGHTS
- Pride of ownership 33 unit apartment building in prime Valley Village South of Riverside Drive
- Excellent unit mix consisting of (10) 1+1 units and (23) 2+2 units
- Units feature fireplaces, balconies, tile entries, and crown molding
- Subject to AB-1482 rent control
- Upside in existing rents
- 80 percent of the units have been renovated; New elevator, roof is 1 year old, boiler is 2 years old
EXECUTIVE SUMMARY
Equity Union Commercial is proud to represent this 33 unit property in Valley Village.
The property was constructed in 1987. Its unit mix consists of (10) 1+1 units and (23) 2+2 units. With a lot size of 25,343 square feet, the property has a total of 30,915 rentable square feet.
The Valley Village community is a highly desirable area rich in culture and traditions and centrally located with easy access to public transportation. The surrounding area features established well kept single family homes and a variety of shopping centers, churches, schools, and restaurants. The property is located close to the 101, 134, and 170 freeway and Ventura Blvd is just minutes away with restaurants and shopping while the metro link transportation allows easy access to Sherman Oaks, Woodland Hills, Burbank, Hollywood, and downtown Los Angeles.
The property was constructed in 1987. Its unit mix consists of (10) 1+1 units and (23) 2+2 units. With a lot size of 25,343 square feet, the property has a total of 30,915 rentable square feet.
The Valley Village community is a highly desirable area rich in culture and traditions and centrally located with easy access to public transportation. The surrounding area features established well kept single family homes and a variety of shopping centers, churches, schools, and restaurants. The property is located close to the 101, 134, and 170 freeway and Ventura Blvd is just minutes away with restaurants and shopping while the metro link transportation allows easy access to Sherman Oaks, Woodland Hills, Burbank, Hollywood, and downtown Los Angeles.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $19,205,100 CAD |
| Price Per Unit | $581,973 CAD |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 13.3 |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.58 AC |
| Building Size | 30,915 SF |
| Average Occupancy | 94% |
| No. Stories | 3 |
| Year Built | 1989 |
| Parking Ratio | 1.07/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Microwave
- Tile Floors
- Oven
- Range
- Carpet
SITE AMENITIES
- Laundry Facilities
- Energy Star Labeled
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | - | 700 - 800 |
| 2+2 | 23 | - | 800 - 1,000 |
1 of 1
Walk Score®
Very Walkable (78)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 2355-014-025 | Improvements Assessment | $6,045,161 CAD (2024) |
| Land Assessment | $4,526,327 CAD (2024) | Total Assessment | $10,571,488 CAD (2024) |
ZONING
| Zoning Code | R3 (Residential) |
