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Tujunga Crest Apartments 2 Multifamily Properties Offered at $6,500,000 in Tujunga, CA
INVESTMENT HIGHLIGHTS
- 11.5 GRM | 10 @ market
- 3 miles to Angelus National Golf Club
- High barrier to entry, short housing stock
- 6.1% CAP | 7.3% @ market
- Max allowable rent increases - non RSO
EXECUTIVE SUMMARY
The Alexanian Apartment Advisors are pleased to present this unique 24 units + 2 n.c investment opportunity in the emerging market of Tujunga Ca. Max state allowable increases (ab 1482) - no RSO. The 2 building portfolio was built in 1987, located on the same street just a couple buildings apart, comprised of (12) 2+2s & (12) 1+1s all with central AC, fireplaces, enclosed garages. Both buildings have a large storage space that already has kitchens and bathrooms which are not currently occupied. An astute investor will realize that effectively there is 26 units without the requirement of an onsite manager with a market cap rate of 7.3%. Furthermore the enclosed garages might potential offer additional revenue via ADU conversion? Buyer to verify.
Situated only 5 minutes to La Crescenta/Montrose and 7 minutes to Glendale, Tujunga continues to experience a major influx of renters seeking immediate access to local amenities and workforce while achieving a more affordable housing option. Just 3 miles to the Angelus National Golf Club.
* Contact Greg or Levon for offering memorandum and additional questions *
Situated only 5 minutes to La Crescenta/Montrose and 7 minutes to Glendale, Tujunga continues to experience a major influx of renters seeking immediate access to local amenities and workforce while achieving a more affordable housing option. Just 3 miles to the Angelus National Golf Club.
* Contact Greg or Levon for offering memorandum and additional questions *
PROPERTY FACTS
| Price | $6,500,000 | Number of Properties | 2 |
| Price / SF | $325.39 / SF | Individually For Sale | 2 |
| Cap Rate | 6.10% | Total Building Size | 19,976 SF |
| Sale Type | Investment | Total Land Area | 0.48 AC |
| Status | Active |
| Price | $6,500,000 |
| Price / SF | $325.39 / SF |
| Cap Rate | 6.10% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 2 |
| Total Building Size | 19,976 SF |
| Total Land Area | 0.48 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Commerce Apartments 2
10219 Commerce Ave, Tujunga, CA 91042 |
Multifamily | 10,032 SF | 1987 | $3,250,000 |
| 10129 Commerce Ave, Tujunga, CA 91042 | Multifamily | 9,944 SF | 1987 | $3,250,000 |
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Tujunga Crest Apartments
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