10206 Mountair Ave
Tujunga, CA 91042
Multifamily Property For Sale · 11 Units

Arthur Arejian of Vanguard Investments Inc., as exclusive listing agent, is pleased to present an opportunity to purchase an 11-unit Brand new TOWNHOME project with separate APN’s for future individual sale. This opportunity can be viewed as both a multi family rental community or a FOR SALE product depending on the investor’s interest and economic formula. The Mountair Townhomes is located at 10206 Mountair Ave, Tujunga, CA. This prime class A asset consists of extremely large TH units with balconies in almost all units and contains an excellent mix of all (3+3 TH Units) ranging from approximately 1,746-1767 SF in size with separate 400 SF private garages with Unit Entry. Also Washer & Dryers are in all Units and Individual Hot Water Heaters. THE PROPERTY   The Mountair Townhomes consist of 11 luxury and spacious three-bedroom three-bathroom Units situated on 21,775 SF of land. The units include Washer & Dryer Hook-ups, balconies, fireplaces, high ceilings, separately metered, and has a tank less hot water heaters. The project was completed at the end of 2017 and is located in the strong rental submarket of Tujunga. 8 of the 11 Townhomes have been fully leased. 100% occupancy is expected within 45 days! Truly an A asset and attracting a high quality profile of residence, this new class A property is a perfect for an investor looking for quality, a long term hold, a NEW lease up opportunity, and a possible condo sale in the future with a strong return. Listed for a 4.38% CAP Rate on actual current Income. This asset is listed for $268.00 PSF (Below Replacement Cost). Listed for $231.00 PSF of Gross Building SF. There is 15% Upsides still remaining as true market rents are $3,000 per month. Current Average Rents are at $2,834 Per Month ($1.60 PSF). 10 Years of Condo Insurance premium has been fully paid by the sellers.