10927 Strathern Street

    Sun Valley, CA 91352
    • $1,050,000
    • STATUS: Active
    • ON SITE: 72 days
    • ID#: RS19186738
    UPDATED: 29 min ago
    $1,050,000
    • 0
      BEDS
    • 0.35
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,252
      SQFT
    • $323
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1940
    County:

    School Ratings & Info

    Description

    QUALIFIED OPPORTUNITY ZONE!!! Great Investment Opportunity to own these 4 units, two separate buildings (10927-10931 Strathern) must be sold together and are reflected in the price. Great upside potential, property under Rent Control.Our Development team has found that a Developer or Investor can build up to 37 units on site. They can be market-rate units allowing maximize the valuation of the property, can also apply for a density bonus (35% increase) if an affordable housing component is incorporated allowing a build "up to" 50 units, can also exercise the TOC "Transit-Oriented Community" guidelines which gives the ability to build up to 60 units with 23% have to be affordable housing units. Perfect opportunity for an Affordable Housing Developer. They are changing the TOC guidelines which may affect the ability to leverage this element. Check back in a couple of months on the changes to the TOC guidelines and also do a 100% affordable where the city of LA will prioritize applications.The above statements on the number of units are estimates given from LADBS conditioned the applicant get approvals on the rezoning of the parcels.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-18T21:39:16.04. 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 The Marelly Group | Compass. Licensed in the State of California, USA.
    www.themarellygroup.com/homes/97638183

    10927 Strathern Street Sun Valley, CA 91352

    • Price: $1,050,000
    • Status: Active
    • Updated: 29 min ago
    • ID#: RS19186738
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.35
    Acres
    3,252
    SQFT
    $323
    $/SQFT
    1940
    Built
    Neighborhood:
    SUNV - Sun Valley
    County:
    Los Angeles
    Area:
    SUNV - Sun Valley
    Property Description
    QUALIFIED OPPORTUNITY ZONE!!! Great Investment Opportunity to own these 4 units, two separate buildings (10927-10931 Strathern) must be sold together and are reflected in the price. Great upside potential, property under Rent Control.Our Development team has found that a Developer or Investor can build up to 37 units on site. They can be market-rate units allowing maximize the valuation of the property, can also apply for a density bonus (35% increase) if an affordable housing component is incorporated allowing a build "up to" 50 units, can also exercise the TOC "Transit-Oriented Community" guidelines which gives the ability to build up to 60 units with 23% have to be affordable housing units. Perfect opportunity for an Affordable Housing Developer. They are changing the TOC guidelines which may affect the ability to leverage this element. Check back in a couple of months on the changes to the TOC guidelines and also do a 100% affordable where the city of LA will prioritize applications.The above statements on the number of units are estimates given from LADBS conditioned the applicant get approvals on the rezoning of the parcels.
    Exterior Features

    Garage Spaces 0.00 Lot Features Rectangular Lot Lot Size Source Assessor Lot Size Units Square Feet Parking Total 4.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features None Levels One

    Property Features

    Additional Parcels Description 2409003023 Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.65 Community Features Sidewalks Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 53880.00 Gross Scheduled Income 53340.00 Insurance Expense 1700.00 Land Lease YN No Laundry YN No Net Operating Income 37882.00 New Construction YN No New Taxes Expense 12558.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 2 Number Of Units Leased 4 Operating Expense 15458.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 4445.00 Total Expenses 15458.00 Trash Expense 0.00 Water Sewer Expense 1200.00 Water Source Public Year Built Source Assessor Zoning Lar1

    Listing provided courtesy of Pavan Maddi of Pm Real Estate Services Inc


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-18T21:39:16.04. 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 The Marelly Group | Compass. Licensed in the State of California, USA.
     
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    Bonsall CA, 92003