11145 Sunshine Terrace
Studio City, CA 91604
Multifamily Property For Sale · 8 Units

Marcus & Millichap is pleased to introduce 11145 Sunshine Terrace Avenue, located in Studio City, CA. This is rare opportunity for an investor to acquire a trophy apartment building in the hills of Studio City. This 2009 construction building is not subject to rent control. The rents are currently below market, and a new owner could step in and raise rents to market with relatively minimal work required. This property lacks direct competition in its immediate area. The minimum home rental price in the immediate area hovers around $5,500. There is plenty of room between that price and the building's current rents, which provides plenty of upside to be capitalized upon. These 3 bedroom 2.5 bath town homes are condo mapped, with several layouts, and were originally built to be sold individually. This presents a new owner with an opportunity to hold onto these units as rental property, or to individually spin them off when market pricing is optimal. The units vary in size from 1,600 to 2,200-square feet. Two of the units have breathtaking views of the hills and San Fernando Valley. The property also has a ground level garage, and each unit is assigned two parking spaces. The unit interiors were built to luxury specifications with hardwood floors, tiled fireplaces, kitchen tile flooring, granite counter tops, stainless steel appliances, tile backsplash and cherry cabinets.