PROPERTY DESCRIPTION

***HUGE PRICE REDUCTION*** ***5.58% Cap Rate / 10.88 GRM*** ***Must Close by July 31st, 2023*** ***BRING ALL OFFERS*** ***Please Contact Us For An OM*** Rare upgraded 18-unit apartment building with very large units in North Hills, San Fernando Valley. Some units are over 1,200 square feet. This newly renovated multifamily asset has a stunning exterior with 5 beautifully upgraded units, 4 of which include in-unit washers and dryers. The Seller has set the stage for the remaining 13 units to be upgraded and reconfigured with additional bedrooms to transition into efficiently configured units, driving up the property's value. The property also has the potential to add a 600 square foot 1+1 ADU (Buyer to confirm feasibility), offering additional rental income potential. Please note that the new owner will need to complete the final stages of rehab for two units as well as the seismic retrofit. With an ADU added and completion of the required seismic retrofitting, this property may achieve a 8.82% Cap Rate after estimated construction expenses and unit turns. The unit mix contained here is broken down by units size. Some of the 3 bedroom units are larger than the others. Other units have dens that were added and are listed as bedrooms since they achieve a similar rent as bedrooms. Request the marketing package for more details.