Marcus & Millichap is pleased to announce the sale of The Mint, a 10-unit multifamily property that has been significantly upgraded in recent years. Situated on a corner lot less than one mile from Warner Center, the investment is available at a very attractive current CAP Rate and GRM when compared with similar sales in the area.
The majority of the units have been heavily remodeled, which benefits a new investor’s immediate cash flow and maintenance expenses, while still leaving an opportunity to extend the renovation blueprint to the remaining units for future income growth. Among the interior improvements are new quartz countertops, new cabinets in both kitchens and bathrooms, new windows, new heaters, new flooring and baseboards, new lighting, new stoves, and new hood vents. The exterior and common area have also been extensively upgraded, with the current owner adding new landscaping, new exterior paint, and new concrete to the premises. An on-site laundry room provides an additional income stream for the new investor.
Located near the intersection of De Soto Boulevard and Sherman Way, The Mint lies minutes from Warner Center, the brand new Village at Topanga Shopping Center, and Pierce College. Tenants enjoy convenient access to the 101 Freeway, while public transportation is available just two blocks away at the corner of Saticoy Street.
