This investment opportunity consists of a two-story apartment complex over on-grade parking and
contains 14-units constructed in 1988. This building is approximately 15,048 square feet situated
on approximately 11,249 square feet of land. Unit Mix is comprised of 2- 1 bedroom 1 bathroom,
2- 1 bedroom + loft 1 ½ bathroom and 10- 2 bedroom 2 bathroom units. Each unit has central
heating and air condition and also feature gas burning fireplace, dishwasher, double sink with
garbage disposal, gas range/oven with hood combination and refrigerator. Some units have
balconies.
The building amenities consist of laundry room, controlled access to building and secure parking
for 25 cars. The property is separately metered for gas and electric.
Rents are currently below market offering upside potential of approximately 11%+/-. Since the
building was built in 1988 it is currently NOT subject to City of Los Angeles rent control ordinance.
The rent control ordinance In the City of Los Angeles only applies for residential units constructed
prior to October 1978.
The property is located in the North Hollywood area of Los Angeles approximately ½ mile east of
the Hollywood Freeway (170) and approximately ½ mile from Metro Redline North Hollywood
Station and just about 1 mile from the NOHO Arts District. The building is conveniently located for
tenants shopping and transportation needs.
