Newmark, as exclusive advisor, is pleased to present the opportunity to acquire the South Valley Garden Portfolio (the “Property”), three properties totaling 108 units (and one non-conforming unit), each with considerable value-add upside, in the southern San Fernando Valley in the city of Los Angeles, CA. The properties are situated in the most desirable San Fernando Valley communities of Sherman Oaks and Toluca Lake. The location is just minutes from the Burbank Studios including Warner Brothers and Disney and Universal Studios Hollywood as well as large employment centers of Downtown Los Angeles, Hollywood, the Tri-Cities, and Warner Center.
The properties offer a compelling value-add investment opportunity, with significant upside through capturing loss to lease and potentially exiting via the individual sale of condominium units. Current ownership has diligently maintained the properties, including significant capital investment over the last 5 years.
A new owner is presented the opportunity to capture rental upside through mark-to-market adjustments upon vacancy or even more premiums through additional capex investment.
Built between 1986 and 1991, the properties are not subject to local rent control restrictions, and are subject only to limits indicated under AB 1482.
There are 6 affordable units at Woodbridge Gardens, which consists of 29 individually deeded units plus one non-conforming one-bedroom unit (30 units total).
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| No. of Units: | 108 |
| Building Size: | 124,998 Sq ft |
| Lot Size: | 2 Acres |
| Opportunity Zone: | No |
Sponsored by:
Please enter annual amounts.
Re/Max Real Estate Professionals | New York
Central CA Commercial | California
Recckio Real Estate & Development
Avison Young - CA - ON - Greater Toronto
California
California