5223-5227 Corteen Pl
North Hollywood, CA 91607
Trophy Valley Village | 2.76% Assumable Debt · Immeuble residentiel Bien À vendre · 20 Lots

Prime Valley Village 20 Units | 5.9% Cap | 11 GRM | 2.76% IO Assumable Debt | Large 2 & 3BR Units | Pool + Parking
The Brody Group of Marcus & Millichap is proud to exclusively present 5223 & 5227 Corteen Place—a rare 20-unit multifamily offering in prime Valley Village, featuring 2.76% interest-only assumable financing through 2030, delivering a significant and highly sought-after advantage in today’s elevated interest rate environment.
Offered at an attractive basis, the asset is currently pricing at approximately an 11.0 GRM and nearly a 6% cap rate on in-place NOI, providing strong day-one yield for a well-located, scale asset in the Valley.
This low-density, community-oriented property is defined by its exceptional unit mix of predominantly large 2- and 3-bedroom residences—a scarce and highly desirable product type that consistently drives strong tenant retention, premium rents, and long-term occupancy stability.
Situated on an oversized parcel with approximately 22,404 square feet of improvements, the property offers a true residential feel, enhanced by a resort-style swimming pool, landscaped courtyard, and ample on-site parking—features that meaningfully differentiate the asset from competing inventory.
Strategically located in the heart of Valley Village, the property benefits from proximity to Studio City, Sherman Oaks, and major entertainment and media employment hubs, as well as convenient access to Ventura Boulevard’s dining, retail, and lifestyle amenities. This highly desirable submarket continues to experience consistent tenant demand driven by strong demographics and limited new supply.
From an investment standpoint, the offering combines immediate cash flow strength with long-term upside potential, supported by both in-place yield and below-market financing.
Investment Highlights
~6% CAP RATE | 11 GRM — STRONG IN-PLACE YIELD
Acquire a cash-flowing 20-unit asset at ~6% cap and 11 GRM, offering above-market returns for a core Valley Village location.
SUB-3% ASSUMABLE DEBT — $2.7M @ 2.76% IO | $6,210/MONTH
In-place $2.7M interest-only loan at 2.76% with an extremely low $6,210 monthly payment—creating massive payment savings vs. today’s debt and immediate positive leverage.
DEBT ARBITRAGE = ENHANCED CASH FLOW & RETURNS
This below-market financing structure delivers significantly higher cash-on-cash returns and a lower effective acquisition basis, materially outperforming newly financed deals.
RARE LARGE UNIT MIX — 2 & 3 BEDROOM DOMINANCE
Family-sized units drive longer tenancy, reduced turnover, and premium rents—a highly sought-after and supply-constrained product type.
SCALE + LOW-DENSITY SITE DESIGN (20 UNITS)
Approx. 22,404 SF of improvements on an oversized lot, offering a strong price-per-foot basis and long-term value support.
RESORT-STYLE AMENITIES — POOL, COURTYARD, PARKING
Community-oriented design with pool, lush landscaping, and ample parking enhances tenant demand and retention.
PRIME VALLEY VILLAGE LOCATION
Close proximity to Studio City, Sherman Oaks, and major employment hubs, with convenient access to Ventura Boulevard’s top dining and retail.
STABLE IN-PLACE INCOME + UPSIDE
Opportunity to grow NOI through renovations and operational efficiencies while benefiting from strong existing occupancy.
DEFENSIVE + OFFENSIVE INVESTMENT PROFILE
Strong current income provides downside protection, while rent growth and financing advantage drive upside.
5223 & 5227 Corteen Place represents a rare opportunity to acquire scale, strong in-place yield, and a highly favorable capital structure in one of the San Fernando Valley’s most stable and consistently performing rental markets.