Property Detail

4215 Vineland

Studio City CA 91602

$8,450,000

Status: Active

Property Details

Description

4215 Vineland Ave is a 32-unit value add multifamily opportunity on a huge lot in the heart of Studio City, offered at $8,450,000 by a motivated Seller. The property features 20 vacant units ready for immediate renovation that would achieve a 6 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 $2,850,000, bringing the total unit count to 44 and the cap rate to an estimated 7.65%. 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.

Map Location

Listing provided courtesy of Kelly Morgan of Houze Real Estate Management. Last updated 2026-06-24 08:10:50.000000. Listing information © 2025 CRMLS.

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"I worked with Ever through the process of an Estate Sale and sale of a condominium. Throughout the experience he and his team were extremely helpful. I had never been involved with an estate sale previously and was working with the additional factor of not being local. After an initial meeting I was able to deal with he and his team remotely which simplified the entire process and experience. Any questions or issues I had were very quickly addressed and resolved. My entire experience was very positive. Thank You!"

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