The LAAA Team of Marcus & Millichap is proud to present 4540 Laurel Canyon Boulevard located in Valley Village, California, one of the best neighborhoods in the San Fernando Valley.

The property is ideally located directly across the street from Campbell Hall school, one of the top private K-12 schools in Los Angeles county serving over 1,100 students, and the property is just south of the 101 freeway and within one block of the Studio City border. In fact, depending on the map you are looking at, this property could easily be described as being in Studio City, although it is technically in Valley Village.

This 6 unit multifamily property, built in 1947, has a total building size of 4,318 SF and sits on a 7,126 SF lot. The building has an attractive unit mix of (1) Studio / 1-Bath unit, (3) 1-Bed / 1-Bath units, and (2) 2-Bed / 1-Bath units. 

This value add opportunity has an estimated 33% upside potential in rents, and the property does not need any soft story retrofitting like many others do in the area, which help the investor focus their capital improvement money on upgrading the units to raise rents and/or adding ADUs. 

This property is an ideal candidate to take advantage of the new ADU laws where an investor could quickly and cheaply add 1 or 2 detached ADUs at the back of the lot. Most likely, the best place to put these new ADUs would be on top of the existing parking garage in the back. If you want to learn more about the new, favorable California ADU laws, please give us a call.