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Multifamily

The Astaire

Los Angeles, CA

72 Units

Built in 1971

Value Add

Investment Highlights

  • Prime SFV Location: In Valley Village, 70% the population are renters, market rent growth is projected to be 6.87% over the next 12 months, and average occupancy is expected to remain at or above 96%
  • Proven Value-Add Opportunity: Current ownership has renovated 41 of 72 units and achieved significant rental premiums post renovation
  • Fixed-Rate Accretive Loan Assumption: Buyers can assume the attractive in-place financing (57% LTV at 2.68%) with 8.5 years to maturity and 6.5 years of interest only period remaining.
  • Substantial Improvements Have Already Been Completed: Current ownership has completed significant improvements including a new roof, upgrades to the electrical, landscaping, signage, exterior paint, hallways, exterior lighting, full modernization to elevators, and the addition of one ADU.
  • Easy Accessibility to Employment: Major employment centers such as North Hollywood, Hollywood, Burbank, Glendale, West Hollywood, and Downtown LA are all accessible within 20-30 minutes from Valley Village.
  • Strong Submarket Demographics: Average household incomes are nearly $115,000, 35% of the population earns more than $100K annually, and 55% if the population is college-educated.

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