PRICE REDUCED! A great opportunity to build and hold. The projected return on investment will be 7%, projected sales price will be 7.4m, and projected cash flow collected will be approximately 1.348m within 5 years (see page 15 for the 5 year investment analysis). We are pleased to present the opportunity to acquire a ready-to-issue ("RTI") development for a modern 15 unit building in prime Toluca Lake. The building is designed with on-grade parking and 3 floors of five units each (mirrored floorplans) for quick and easy construction. The project’s building plans have received all LADBS approvals and clearances, so it is benefitted by a ready-to-issue building permit to allow for construction to commence on the day after close of escrow. The building consists of (13) one bedroom/one bathroom market rate units (no rent control!) and (2) two bedroom/one bathroom income restricted units. The units range from 579 SF - 867 SF, with an average of 709 SF. The building will be built on an already pancake flat 9,100 SF infill lot. The building is designed with luxury amenities: ±1,600 SF of private rooftop deck, views, balconies, bicycle storage, controlled access, elevator, security system, washer/dryer, and 15 parking spaces. The property is located near new retail & residential development projects and within proximity to major transportation hubs. Centrally located to major L.A entertainment centers, employment and transportation hubs. Surrounded by high barrier entry markets (Hollywood, Glendale, Burbank, Studio City and North Hollywood). The information contained in the listing has been obtained from sources we believe to be reliable. However, Listing agent has not verified any of the information contained herein and Listing agent has not conducted any investigation and makes no representation regarding the accuracy of the information provided. Buyer to independently verify the accuracy of all information through personal inspection & with appropriate professionals.
