12 UNITS NEAR COMPLETION IN NOHO ARTS DISTRICT OPPORTUNITY ZONE!
We are pleased to announce a nearly complete opportunity zone investment. The subject property is a new construction 12-unit complex, Green Certified, and located in the highly coveted North Hollywood Arts District. Final inspections are estimated to take place by April 2020 which would allow a buyer to take advantage of Opportunity Zone tax incentives as owner of record during completion while seller/builder passes the finals.
This non-rent-controlled luxury complex is comprised of 6 duplexes, totaling 12 townhouse style units. 10 of the units are 3 bedrooms 2.5 bath, and 2 units are built as 2 bed 1.5 bath (34 bed 30 bath in total), all of which have private laundry. A total of 22 private garage spaces and 2 uncovered spaces provide all tenants with on-site parking and storage. Each unit is equipped with separate meters for water, gas and electricity as well as an owner’s common area electric meter for exterior lighting and common area water meter for servicing and landscape irrigation. The property will be completed with drought tolerant landscaping, as well as energy efficient building materials, appliances and fixtures presenting the buyer with a low maintenance, environmentally friendly property.
Satsuma Ave, and the surrounding peaceful treelined streets, offer the welcoming residential atmosphere of home while being just steps away from abundant amenities. Tenants are sure to be drawn to the safe and quant feel of entering a gated community of townhomes, parking in their own private garage, and entering their home through a ground level private entry. The layouts of the units are spacious and only share a single wall with a single neighbor.
NoHo has seen an incredible surge of development over the last few years, with the target being the Arts District due to the sought-after lifestyle including shopping, dining and entertainment all within walking distance as well as a vibrant community of arts and entertainment professionals.
The combination of a strong NoHo rental market, new construction townhomes, and the tax advantages of an Opportunity Zone makes this offering one of the most unique on the market. The seller, who is also the builder, is seeking a buyer interested in closing just prior to Certificate of Occupancy issuance in order to grant the buyer with the Opportunity Zone incentives. The seller is also willing to work with a traditional buyer wishing to take possession after CofO. Please contact us regarding this opportunity or one of the seller’s many other similar developments throughout Los Angeles.
