Compelling Value-Add - The Property is the quintessential value-add opportunity, being sold by the original developer. While meticulously maintained for the last 50+ years.
Rare Offering - An opportunity for an investor to acquire a property that is being marketed for the first time, in Sherman Oaks, which has seen only five other 60+ unit multifamily properties sell in.
Built to Superior Standards - Built in 1963, it was constructed with quality in mind. It features lush spacious grounds, central A/C, copper plumbing, elevator service (2), oak cabinetry in kitchen.
Attractive Unit Mix & Spacious Floor Plans - 14 unique floor plans across a favorable unit mix of 29 one bedroom units ranging from 782-870 square feet (48%) and 31 two bedroom units ranging from 1,102 to 1,354 square feet (52%).
Strong Demographics - With an average income of $138,069 (31.7% higher than the SFV) and 59% of the population holding college degrees (71.7% higher than the SFV), Sherman Oaks is home to some of the most affluent residents in the entire San Fernando Valley.
Large Affordability Gap - The median home price in Sherman Oaks is currently $1,302,500, which creates an affordability gap of 165.9% when compared to IPA post renovated market rents at Coldwater Continental. In order to afford a moderately priced single-family home, household's income would need to be approximately $257,856 annually, almost double the current average income in Sherman Oaks.
Accessibility to Major Employment Hubs - Due to the Property's proximate location to the 101 & 405 Freeway interchange, residents of Coldwater Continental have swift access to nearby employment centers including Hollywood, Burbank/Glendale, Woodland Hills/Warner Center and West Los Angeles featuring notable employers such as Netflix, Google, UCLA and Universal.