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Los Angeles, CA
Built in 1971
- 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.