Compelling Value-Add Opportunity - with a total of 88 units built in 1962, Cambridge Apartments provides a compelling opportunity for an investor to acquire an asset with significant value-add potential with over 35%+ of upside in rents.
Rare Offering - Cambridge Apartments represents a rare opportunity for an investor to acquire a property in Sherman Oaks, one of the preeminent markets in Southern California, which has seen only two other 75+ unit multifamily properties sold in the last 5 years.
Large Affordability Gap - the median home price in Sherman Oaks is currently $1,220,000, which creates an affordability gap of 277% when compared to in-place rents at Cambridge Apartments. In order to afford a moderately priced single-family home, a household would need to make approximately $262,636 annually, almost double the current average income in Sherman Oaks.
Investor Optionality at Exit - Cambridge Apartments offers a potential investor the strategic optionality of selling the buildings individually upon exit. The property consists of two contiguous 44-unit buildings situated on two separate and adjoining parcels.