Description
This pride of ownership, 10-unit apartment building in the upscale Valley Village neighborhood of the San Fernando Valley, is on Chandler Boulevard between Whitsett Avenue and Laurel Canyon Boulevard. (AKA 5401 Rhodes Ave). This property, built in 1985, features an excellent unit mix of one (1) 1+1, and nine (9) 2+2 units. The building was extensively renovated in 2021 to include a complete roof replacement, all new air conditioning units, new lobby and hallways, and landscaping. Two of the units have also been extensively renovated. This investment currently allows an owner to increase rents up to 10 per year (AB 1482). With the rental upside in rents at over 30%, a new owner should achieve market rents at a rapid pace. (Market Cap of almost 5%).
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0.16ACRES
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01/2 BATHS
School Ratings & Info
Description
This pride of ownership, 10-unit apartment building in the upscale Valley Village neighborhood of the San Fernando Valley, is on Chandler Boulevard between Whitsett Avenue and Laurel Canyon Boulevard. (AKA 5401 Rhodes Ave). This property, built in 1985, features an excellent unit mix of one (1) 1+1, and nine (9) 2+2 units. The building was extensively renovated in 2021 to include a complete roof replacement, all new air conditioning units, new lobby and hallways, and landscaping. Two of the units have also been extensively renovated. This investment currently allows an owner to increase rents up to 10 per year (AB 1482). With the rental upside in rents at over 30%, a new owner should achieve market rents at a rapid pace. (Market Cap of almost 5%).
Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-11T22:31:55.703. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Bathurst Coastal Properties | Compass. Licensed in the State of California, USA.