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Multifamily
Fountain Park & Villas
Los Angeles, CA
102 Units
Built in 1977
Value Add
Investment Highlights
- POTENTIAL AFFORDABLE CONVERSION OPPORTUNITY - More than 90% of the in-place rents fall below 80% AMI rent levels.
- WELL-MAINTAINED INSTITUTIONAL QUALITY ASSETS - Recent enhancements include new roofs at Fountain Villas, balcony upgrades for SB 721 compliance at both properties, and new call box systems.
- EXTENSIVE AMENITY PACKAGE-The collection is well-amenitized with each property featuring a swimming pool, spa, barbecue area, courtyards, on-site laundry facility, fitness center, and business center.
- STRATEGIC VALUE-ADD POTENTIAL - The "Deluxe" renovation scope completed in 15 units at Fountain Villas offers investors a roadmap to capturing 19% upside in rental income by implementing similar upgrades in the remaining units. Investors can leverage the various interior enhancements at Fountain Park to reduce the cost of a programmatic renovation strategy moving forward.
- COMPLEMENTARY UNIT MIX - Fountain Villas has a unique unit mix comprised of (60) three-bedrooms and (42) four-bedrooms while Fountain Park offers a complementary mix of (32) studios, (36) one-bedrooms, and (44) two bedrooms.
- PROXIMITY TO JOBS - 10 minutes from Warner Center, the "Downtown of the Valley" with 65,000 total jobs. Notable major employers include Kaiser Permanente, Anthem, Activision, Farmers Insurance, Universal Music Group, Thermo Fisher Scientific, and Healthnet.
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