Price cut
$7,975,000
45 bd · 12 ba · 28,494 sqft · 0.92 acre lot
4215 Vineland Ave, Studio City, CA 91602
Multi-family · Built 1962 · $280/sqft ·
$48,844/mo est. payment
- Stories
- 2
Flood factor 6/10
About this home
4215 Vineland Ave is a 32-unit value add multifamily opportunity on a huge lot in the heart of Studio City, offered at $7,975,000 by a motivated Seller. The property features 20 vacant units ready for immediate renovation that would achieve a 6.5% plus cap rate after estimated interior and exterior renovation costs. The remaining 12 occupied units have over 75% rental upside that could be unlocked over time as additional tenants relocate.The property also presents a compelling development angle: our architect designer has developed a site plan for adding 12 additional units that include 4 attached ADUs and 8 detached ADUs. The plan was developed with an emphasis on keep building costs low and retaining at least 33 parking spaces. The 8 detached ADUs would be exempt from city and state rent control for 15 years. A preliminary bid from a licensed general contractor prices the construction of the 12 ADUs at $1,350,000, bringing the total unit count to 44 and the cap rate to an estimated 8.28%.This asset is in an excellent location. Only a 10-minute walk to Ventura Blvd and short distance to major studios such as Universal, Warner Brothers and NBC, tenants can enjoy a walking lifestyle with easy access to jobs, shops and restaurants. This is a rare opportunity to own a 32 or 44 unit that is almost completely upgraded in the heart of Studio City.
Facts and features
Bedrooms
- Bedrooms: 45
Bathrooms
- Total Bathrooms: 45
- Full Bathrooms: 12
Heating and Cooling
- Cooling Features: Wall/Window
- Heating Features: Wall
Land Info
- Lot Size Acres: 0.9172176
- Lot Size Source: Assessor
- Lot Size Square Feet: 39954
Garage and Parking
- Parking Features: Carport
- Parking Total: 34
Multi-Unit Info
- Number of Buildings: 3
- Number of Units: 32
- Unit Type: Apartments
- Bedrooms in Unit-1: 1
- Bedrooms in Unit-2: 1
- Bedrooms in Unit-3: 2
- Bedrooms in Unit-4: 2
- Bedrooms in Unit-5: 2
Rental Info
- Gross Income: 883364
- Gross Scheduled Income: 856863
Other Property Info
- Source Listing Status: Active
- County: Los Angeles
- Directions: The subject property is located on Vineland Avenue in North Hollywood, just north of Ventura Boulevard and between Aqua Vista Street and Acama Street, with convenient access to the 101, 170, and 134 Freeways.
- Source Property Type: Residential Income
- Area: Studio City
- Source Neighborhood: Studio City
- Parcel Number: 2366-019-028
- Zoning: LAR3
Schools
- 7
Rio Vista Elementary School
elementary · K-5 · 0.2 mi
- 7
Walter Reed Middle School
middle · 6-8 · 1.0 mi
- 8
North Hollywood Senior High School
high · 9-12 · 1.7 mi
St. Charles Borromeo
elementary · K-8 · 0.4 mi
Berenece Carlson Home Hospital
elementary · K-12 · 0.2 mi
Wesley School, The
elementary · K-8 · 1.0 mi
Price history
- Jul 17, 2026 · Price Changed$7,975,000
- May 26, 2026 · Listed$8,450,000
- Feb 27, 2026 · Listing Removed—
- Jan 14, 2026 · Listed$8,750,000
- Nov 12, 2025 · Listing Removed—
- Oct 10, 2025 · Price Changed$9,450,000
- Aug 4, 2025 · Listed$9,975,000
- Sep 14, 2010 · Sold$4,650,000
Tax history
- 2025$77,555 tax · $6,076,618 assessed
- 2024$76,355 tax · $5,957,470 assessed
- 2023$75,124 tax · $5,726,136 assessed
- 2022$71,765 tax · $5,613,860 assessed
- 2021$69,011 tax · $5,503,785 assessed
- 2020$69,677 tax · $5,447,351 assessed
- 2019$67,017 tax · $5,340,541 assessed
- 2018$66,153 tax · $5,235,826 assessed
Where it is
Listed by Kelly Morgan · Houze Real Estate Management · TheMLSCLAW
