32-Unit Apartment
4215 Vineland Ave, Studio City, CA 91602
For Sale
$7,975,000
Vacant and occupied residences are complemented by a proposed ADU expansion.
Property Size28,494 SF
Price / SF$279.88
Days on Market168
Property Features for 4215 Vineland Ave
General Information
Standard status
Size
Property subtype
Additional Details
Asking Price
Multifamily Units
Tenant in Place
Building Details
Building Size
Year Built
Listing Agency:
Houze Real Estate Management
Listed By:
Kelly Morgan · License #01898026
(310) 836-3638
Source:
Donhellergroup
Added: May 26
Changed: Nov 7
Last Checked: Nov 8 at 9:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Houze Real Estate Management
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Investment Insights
Based on property information with market context.
The 1962 apartment property contains 32 units: 20 are vacant and 12 are occupied. A site plan proposes 12 additional ADUs, comprising 4 attached units and 8 detached units, for a potential total of 44 apartments. The plan is designed to retain at least 33 parking spaces. The source also states that the 8 detached ADUs would be exempt from city and state rent control for 15 years.
Ventura Boulevard is a 10-minute walk away. Universal, Warner Bros. and NBC studios are also described as a short distance from the property, along with shops, restaurants and employment locations.
Ventura Boulevard is a 10-minute walk away. Universal, Warner Bros. and NBC studios are also described as a short distance from the property, along with shops, restaurants and employment locations.
Key Highlights
- 32 existing units, including 20 vacant and 12 occupied
- Proposed site plan adds 12 ADUs: 4 attached and 8 detached
- Plan retains at least 33 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$458,491
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,169,820
$9.2M
Cap Rate 7%
$6,549,871
$6.5M
Cap Rate 9%
$5,094,344
$5.1M
Market Conditions
NOI Build-Up for 28,494 SF
Gross rent
$906.1K $31.80/SF
− Vacancy
−$72.5K −$2.54/SF
EGI
$833.6K $29.26/SF
− OpEx
−$375.1K −$13.17/SF
NOI
$458.5K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,169,820
Cap Rate 7%
$6,549,871
Cap Rate 9%
$5,094,344
Alternative Uses
Best Use
Apartment 5plus
$6.55M
$5.73M – $7.64M
NOI $458,491 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.26M
$13.35M – $17.80M
NOI $1,067,890 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
32
Residential units
Location Intelligence
Trade Area within ½ mile
2,419
Businesses Nearby
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Business Placement
Demographics for 91602, CA
19,647
Population
10,791
Households
1.8
Avg Household Size
39
Median Age
55%
College-Educated
96%
High-School Grad
2.0 sq mi
ZIP Area
9,824
Density / Sq Mi
$97,994
Median Household Income
$61,134
Median Earnings
$2,186
Median Rent
$1,104,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles County, CA
Properties on Market for Apartment buildings in Los Angeles County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Vacant and occupied residences are complemented by a proposed ADU expansion.
Where is this apartment building located?
The property is located at 4215 Vineland Ave Studio City, CA.
What is the asking price?
The asking price for this property is $7,975,000.
What are key features of this property?
This property features: 32 existing units, including 20 vacant and 12 occupied; Proposed site plan adds 12 ADUs: 4 attached and 8 detached; Plan retains at least 33 parking spaces
