Sold

12310 Chandler Boulevard

Valley Village CA, 91607

$8,995,000


$242.86 per sqft

Sold

56 Beds

41 Baths

37,038 sqft

Residential

Built in 1957

Listed by Roderick 'Rick' Raymundo with Marcus & Millichap 818-212-2700

Various past density restrictions had limited large-scale developments in Valley Village, making 12310 Chandler Boulevard one of only 33 buildings to contain 41+ units out of the 484 multifamily properties in the city. These larger properties rarely come available on the open market, with only one other 40+ unit property transacting in the past five years. Available at an attractive $259 per square foot while similar properties have recently sold for an average of $372 per square foot, the property provides an outstanding opportunity for an astute investor to gain a sizable foothold in a desirable neighborhood while capitalizing on the approximate 49% upside in current rents. Additionally, the potential implementation of a RUBS program can boost future income substantially. Surrounding two separate well-landscaped courtyards with a sparkling pool, the building offers balconies or patios for most tenants, while ample on-site parking allows space for 48 vehicles. This parking area, along with the on-site laundry facilities, provide additional revenue streams to the owner. Located on the corner of Chandler Boulevard and Corteen Place, residents are walking distance to the Laurel Canyon Orange Line Bus Stop as well as numerous restaurants and retail stores on Laurel Canyon Boulevard. Adjacent neighborhoods include Studio City, Sherman Oaks, Toluca Lake, the NoHo Arts District, and Burbank. With easy access to the 170, 101, and 134 Freeways, plenty of employment and entertainment opportunities in the neighboring cities are a short drive away.

23281461

MLS ID

June 16, 2023

Listed

February 16, 2024

Updated

Map

12310 Chandler Boulevard
Valley Village CA, 91607

Interior Features

Total Stories

2


Bedrooms

56 Beds


Bathrooms

41 Baths


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

1.27 Acres

Other Property Details

Area Name

VVL - Valley Village


Days on Market

154


Garage

No


Parking

Assigned


Parking Total

48


View

No


County

Los Angeles


Pool

No


Zoning

LAR3


Buyer Agency Compensation

1%

Listing History

Date

Event

Price

12/5/2023

Price Change

$8,750,000

-3%

12/5/2023

Sold

12/5/2023

Under Contract

7/27/2023

Price Change

$8,995,000

-7%

Listing Contact: 818-212-2700 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/16/2024. 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.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 2/16/2024 at 6:31 AM UTC

 

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