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Property Highlights
-85-Unit Value-Add Apartment Community in Desirable Pacoima Rental Submarket: Current rents are approximately 45% below market rate
-Low Basis - Priced Below Replacement Cost
-Recent Capital Improvements: Current ownership has made significant capital improvements to the property in recent years including full renovation of 30 units, new windows, new fencing and entry gates, significant roof repairs, exterior painting, new outdoor lighting throughout, new seal and stripe of parking lot, improved laundry facilities, new landscaping and significant electrical upgrades
-Large 3.4-Acre Lot with ADU Potential: Apartment complex situated on a large 3.4-acre lot with potential to build ADUs. Buyer to conduct its own investigations
-Excellent Unit Mix: Excellent unit mix consisting of (13) one-bedroom/one-bathroom units, (38) two-bedroom/one-bathroom units and (34) three-bedroom/two-bathroom units
-Property Amenities: Property amenities include controlled access, on-site laundry facility, on-site property manager and video patrol
-Centrally Located: The area is supported by a mix of residential housing, local businesses, retail and services along major commercial corridors such as Van Nuys Boulevard, San Fernando Road and Glenoaks Boulevard
-Convenient Access to 5, 210 and 118 Freeways: Residents enjoy convenient access to 5, 210 and 118 freeways for commuters headed to employment centers throughout the San Fernando Valley, Burbank, Glendale and Downtown Los Angeles (westbound extension scheduled for 2027)
-East San Fernando Valley Light Rail Transit Project Scheduled for 2031: New 6.7-mile light rail program, scheduled to be completed in 2031, will run along Van Nuys Blvd into Pacoima with a stop at Laurel Canyon and Van Nuys Blvd (about 2.5 blocks from the subject property)
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