Highlights

• 18% Upside in Rents
• Extremely Rare Opportunity to Own 42 Units in the City of Burbank
• 42 Spacious Two-Bedroom/Two-Bath Units

• Newer 1986 Construction
• Upscale Units with Private Balconies, Central Air Conditioning, and Dishwashers
• Well Amenitized with Swimming Pool, Spa, and Two Levels of Subterranean Gated Parking

Description

Verdugo Hills is a 42 unit apartment community located in the desirable city of Burbank. The property is comprised of all 2 bedroom, 2 bath units and offers significant upside in rents. Built in 1986, this 3 story garden-style building is not subject to rent control. Verdugo Hills is situated on a 0.53 acre parcel amenitized with a sparkling swimming pool, spa, 2 levels of subterranean gated parking, mature landscaped courtyard, and an on-site laundry facility. All units offer spacious floor plans and have been recently upgraded. Additionally, apartments are equipped with balconies (select units), central air conditioning and heating, gas stove oven/ranges, and dishwashers. Property is separately metered for electric.

Burbank is one of five cities in L.A. County that is federally classified as a job-rich Central City. In fact, several large corporations are headquartered in the city, and Burbank businesses, overall, generate $17 billion in products and services. Also, Burbank was named one of the five most business-friendly cities in Los Angeles County by the L.A. Economic Development Corporation in 2006. In addition to its strong economy, Burbank has a small-town atmosphere that appeals to residents, making it home to many employees of the motion picture and television studios located in and around the city.