11305 Moorpark Street

• Well maintained newer condominium project
• Not subject to local or state rent control
• Ideal Studio City location
• Appreciation through future rent growth
• Highly amenitized project

Property Description

Lee & Associates Apartment Advisors are pleased to present Moorpark Townhomes located in the Tujunga Village section of southeastern San Fernando Valley. The property was completed in 2013 as a condominium project and each unit has its own APN. Currently, it is operating as an apartment building. The property consists of one x one bedroom/one bath, and five x three bedroom/two and one-half bath townhomes. The property is highly amenitized with fourteen gated subterranean parking spaces, an elevator, and two ADA compliant platform lifts. Interiors have high end finishes including European style kitchens with quartz countertops, custom cabinetry, stainless steel appliances, central HVAC, in unit laundry, fully tiled bathrooms, walk-in closets and balconies. Additionally, all units have fireplaces. There is a community roof top terrace for gathering, along with a half bathroom facility. The units are separately metered for gas and electricity. Each unit has an independent tankless water heater to provide energy efficient on-demand supply. There is an additional parking space in the rear. The property is not subject to the city of Los Angeles Rental Stabilization Ordinance, and is exempt from AB 1482 until 2028. Moorpark Townhomes is incredibly well located due to its proximity to the Ventura and Hollywood Freeways. This allows residents easy access to the entire San Fernando and San Gabriel Valleys, and to Hollywood and Downtown Los Angeles. It is nestled in between Studio City and Toluca Lake. Studio City is an upscale suburban community, its name is derived from famous Hollywood silent film producer Mack Sennett building his film studio there in 1927. The property also benefits as it is located in the Walter Reed Middle School district. Walter Reed is home to the Individualized Honors Program (IHP) founded in the early 1970s. It is the only school in LAUSD to offer it, and many families relocate here when their child is admitted to the program. Tujunga Village is an easy two block walk for shops and restaurants, and beautiful neighborhood Woodbridge Park is directly across the street. Therefore, driving future tenant demand and upward pressure on rents. Moorpark Townhomes is a unique offering for an investor to acquire a beautifully maintained property and operate as an apartment building. It also offers an investor two exit strategies if the market determines it is most profitable to sell as one property or to sell off each condominium unit individually.