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$6,050,000price
Beds
Total Baths
14,998Sqft

We are pleased to introduce 11145 Sunshine Terrace, located in Studio City, CA. This is a rare opportunity for an investor to acquire a trophy apartment building in the hills of Studio City. This 2009 construction building is not subject to rent control. The rents are currently below market, and a new owner could step in and raise rents to market with relatively minimal work required. This property lacks direct competition in its immediate area. The minimum home rental price in the immediate area hovers around $5,500. There is plenty of room between that price and the building's current rents, which provides plenty of upside to be capitalized upon.These 3 bedroom 2.5 bath townhomes are condo mapped, with several layouts, and were originally built to be sold individually. This presents a new owner with an opportunity to hold onto these units as a rental property or to individually spin them off when market pricing is optimal.

Listing Details

Essential Information

MLS® #: 17229918
Price: $6,050,000
Bathrooms: 0.00
Square Footage: 14,998
Year Built: 2009
Type: Income
Status: Pending

Community Information

Address: 11145 Sunshine Ter
Area: Studio City (STUD)
City: Studio City
County: Los Angeles
State: CA
Country: UNITED STATES OF AMERICA
Zip Code: 91604

Amenities

Parking Spaces: 18
Parking: Other

Interior

Interior Features: Other
Heating: Other
Cooling: Other
# of Stories: 2

Additional Information

Date Listed: May 10th, 2017
Days on Market: 163
Zoning: LARD1.5
HOA Fees: 0.00

Financials

$/SqFt: $403
Listing Agent: Filip Niculete (01905352)
Listing Office: Marcus & Millichap
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Last updated on October 23rd, 2017 at 4:59pm PDT