Address: 10711 Woodbridge St, North Hollywood, CA 91602, USA
- Surrounded by World-Class Retail and Life-Style Amenities
- Recent Property Upgrades
- Bulk Condominium Purchase | Individually Deeded Units
- 90% Large Two-Bedroom Floor Plans
- Walk Score 80
- High Barriers to Entry Submarket
- Opportunity to Capitalize on Long-Term Growth
Property Description
Newmark is pleased to present the opportunity to acquire Woodbridge Gardens located in the affluent community of Toluca Lake in the San Fernando Valley and adjacent to the city of Burbank, just minutes from the Burbank Studios including Walt Disney, Warner Brothers, and NBC/Universal, as well as the large employment centers of Downtown Los Angeles, Hollywood, the Tri-Cities, and Warner Center. The property offers a compelling value-add investment
opportunity, with significant upside through capturing loss to lease and potentially exiting via the individual sale of condominium units.
The well-maintained property offers many recent upgrades as well as opportunities to capture rental upside through mark to market adjustments upon turnover and steady rent growth evident in the market. Built in 1991, the property is not subject to local rent control restrictions and is subject only to limits indicated under AB 1482.
Woodbridge Gardens consists of 29 individually deeded units plus one non-conforming one-bedroom unit (30 units total). Additionally, six units are for low income and moderate income tenants.