Marcus and Millichap is pleased to present 10 condominium units located at 13040-13050 Dronfield Avenue, in Sylmar, California. Situated just west of Hubbard Street and North of Borden Avenue, this property is on the hard corner of Dronfield Avenue and Sayre Street. Sylmar, located in the northeastern pocket of San Fernando Valley, is well positioned at the midway point between Santa Clarita and Downtown Los Angeles.
Sylmar is an area undergoing massive gentrification. This is due in part to the combination of rapid subdivision in the market, and an exponentially increasing population. The area is moderately diverse, and features a host of amenities that attract visitors and tenants from any background. Six Flags Amusement Park, the San Fernando Mission, and the L.A. Escape Room are just a few of these notable amenities.
This offering is a combined total of 10 condominium units, positioned within a fifty (50) unit condominium project. These units will be run similar to an apartment building, and ownership of these combined units grants the largest share of ownership within the condominium project. It features an excellent unit mix of five (5) one bedroom/one bathroom units, one (1) two bedroom/one bathroom unit, three (3) two bedroom/one and three quarters bathroom units (LoopNet does not offer 3/4 bathroom option), and finally one (1) three bedroom/two bathroom unit. The offering features great upside in potential rents without any rent control restrictions due to the fact the units are individual condominium units. Additionally, these condominiums are located on a hard corner of one of Sylmar's main thoroughfares.
The subject property presents an exciting opportunity for an investor to acquire an asset with great initial cash flow in an up-and-coming pocket of the San Fernando Valley.
