18-Unit Apartment
5510 Corteen Pl, Valley Village, CA 91607
For Sale
$4,750,000
Eleven residences have been renovated, and the property includes a pool, gated access, and shared laundry facilities.
Property Size16,022 SF
Lot Size0.52 Acres
Days on Market22
Property Features for 5510 Corteen Pl
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Additional Details
Multifamily Units
Amenities
on-site storage room
laundry room
pool cabana
gated entry
balconies
walk-in closets
Pristine 18-Unit Property in Prime Valley Village Large Lot Measuring Over Half Acre (22,507 square feet) 60% of Units ( 11 Units) Fully Remodeled
Property Maintained in Excellent Condition Great Curb Appeal on Residential Street Units Remodeled with State-of-the-Art materials, design, and appliances Vacant Units Equipped with Refrigerators
Stainless Steel Appliances New Electrical Panels New exterior Paint New Windows Copper Plumbing New Water Heater New Recirculating Pump New Utility Fan New Pool Pump and Filter
Seismic Retrofit Completed Large On-Site Storage room - possible ADU potential Large Laundry Room Pool Cabana
Gated and Secured Entry Second Floor Units with Balconies Large Walk-in Closets Large Floor Plans with High Ceilings and Dining Areas
Building Details
Building Size
Units
Listed By:
Janette Monfared
(818) 212-2752
Source:
Marcusmillichap
Added: Oct 20
Changed: Nov 9
Last Checked: Nov 10 at 5:13AM
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 Janette Monfared
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Investment Insights
Based on property information with market context.
Built in 1961, this Los Angeles apartment property contains 18 units across 16,022 square feet. Eleven units, or 60% of the total, have been remodeled. Building improvements include new electrical panels, windows, exterior paint, copper plumbing, a water heater, and a recirculating pump. The grounds also include a pool, cabana, and a large storage room; shared laundry is on site. Second-floor units have balconies, and the property has gated entry.
The property is on Corteen Place in the Valley Village area. Its lot measures 22,507 square feet. The pool equipment includes a new pump and filter, and the building has completed a seismic retrofit.
The property is on Corteen Place in the Valley Village area. Its lot measures 22,507 square feet. The pool equipment includes a new pump and filter, and the building has completed a seismic retrofit.
Key Highlights
- 18 apartments in a 16,022‑square‑foot building
- 22,507‑square‑foot lot in Valley Village, Los Angeles
- 11 units remodeled, representing 60% of the unit count
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$257,807
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,156,140
$5.2M
Cap Rate 7%
$3,682,957
$3.7M
Cap Rate 9%
$2,864,522
$2.9M
Market Conditions
NOI Build-Up for 16,022 SF
Gross rent
$509.5K $31.80/SF
− Vacancy
−$40.8K −$2.54/SF
EGI
$468.7K $29.26/SF
− OpEx
−$210.9K −$13.17/SF
NOI
$257.8K $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%
$5,156,140
Cap Rate 7%
$3,682,957
Cap Rate 9%
$2,864,522
Alternative Uses
Best Use
Apartment 5plus
$3.68M
$3.22M – $4.30M
NOI $257,807 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.58M
$7.51M – $10.01M
NOI $600,468 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
1,724
Businesses Nearby
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Business Placement
Demographics for 91607, CA
30,502
Population
14,597
Households
2.1
Avg Household Size
38
Median Age
52%
College-Educated
94%
High-School Grad
2.5 sq mi
ZIP Area
12,201
Density / Sq Mi
$84,925
Median Household Income
$50,970
Median Earnings
$1,998
Median Rent
$1,019,300
Median Home Value
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Market
Average Price Trend$/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 - Eleven residences have been renovated, and the property includes a pool, gated access, and shared laundry facilities.
Where is this apartment building located?
The property is located at 5510 Corteen Pl Valley Village, CA.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: 18 apartments in a 16,022‑square‑foot building; 22,507‑square‑foot lot in Valley Village, Los Angeles; 11 units remodeled, representing 60% of the unit count
