5223 & 5227 Corteen
Scale, Stability, and Sub-3% Debt—20 Units in Prime Valley Village
Marketing description
The Brody Group of Marcus & Millichap is pleased to exclusively present 5223 & 5227 Corteen Place—a 20-unit multifamily opportunity in prime Valley Village featuring an ideal unit mix, strong in-place income, and rare 2.76% interest-only assumable financing fixed through end of 2030.
5223 & 5227 Corteen Place presents a compelling opportunity to acquire a well-located 20-unit multifamily asset in the highly desirable Valley Village submarket of Los Angeles. Offered at $5,450,000, the property combines scale, unit quality, and long-term upside with a highly attractive financing component rarely available in today’s market.
The offering is anchored by $2.7 million assumable financing of 2.76% interest-only, fixed through November 2030—providing a substantial cost-of-capital advantage and delivering immediate cash flow enhancement. This below-market debt structure allows investors to achieve superior leveraged returns compared to comparable acquisitions financed at today’s prevailing rates.
The property features an excellent mix of one-, two-, and three-bedroom units, appealing to a wide tenant base and particularly well-suited for families and long-term residents. The larger unit sizes are increasingly valuable in today’s rental environment, where demand for livable space continues to grow.
Designed in a classic courtyard style, the property offers a landscaped central courtyard and a swimming pool, creating a highly livable, community-oriented environment that enhances tenant retention. Ample parking further supports tenant convenience and marketability.
Situated on an oversized lot, the asset provides both strong in-place income and future optionality, with the potential to enhance value through unit renovations, operational improvements, and possible expansion strategies.
Valley Village continues to benefit from strong rental demand driven by its central location and proximity to major employment and lifestyle hubs including Studio City and North Hollywood. The combination of scale, unit mix, amenities, and favorable financing positions 5223 & 5227 Corteen Place as a standout acquisition opportunity.
Investment highlights
- 2.76% INTEREST-ONLY ASSUMABLE DEBT (FIXED THROUGH NOV 2030)
- Exceptional below-market financing in place—creating immediate positive leverage and a significant cash flow advantage relative to today’s debt environment.
- $2,722,000 Assumable Debt - 50% LTV
- TRUE SCALE (20 UNITS) IN A HIGH-DEMAND RENTAL POCKET
- Rare opportunity to acquire a 20-unit asset in Valley Village—ideal for investors seeking operational efficiency and long-term hold potential.
- HIGHLY DESIRABLE UNIT MIX (1, 2 & 3 BEDROOMS)
- Larger unit configurations cater to families and long-term tenants—driving lower turnover and consistent occupancy.
- CLASSIC COURTYARD-STYLE ASSET WITH STRONG TENANT APPEAL
- Attractive layout centered around a landscaped courtyard—enhances livability and community feel.
- SWIMMING POOL + AMPLE PARKING
- Lifestyle amenities that differentiate the asset and support rental premiums.
- OVERSIZED LOT WITH LONG-TERM OPTIONALITY
- Larger parcel provides flexibility for future improvements, ADU potential, or density optimization (buyer to verify) - up to 16 ADU units allowed
- DEBT ARBITRAGE = IMMEDIATE RETURN ENHANCEMENT
- Sub-3% IO financing dramatically outperforms current lending rates—boosting leveraged yield and lowering effective basis.
- MARK-TO-MARKET RENTAL UPSIDE
- Opportunity to renovate units and increase rents in a strong, upward-trending Valley submarket.
- STABLE, FAMILY-ORIENTED TENANT BASE
- Larger units attract long-term renters, supporting consistent cash flow.
- LIMITED COMPETITION FOR 3-BEDROOM UNITS
- Scarcity of larger units creates sustained demand and premium rent potential.
- PRIME VALLEY VILLAGE LOCATION
- Quiet residential setting with proximity to Studio City, NoHo Arts District, and major employment hubs.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
