11145 Sunshine Terrace

    Studio City, CA 91604
    • $5,799,888
    • STATUS: Active
    • ON SITE: 410 days
    • ID#: 17229918
    UPDATED: 19 min ago
    $5,799,888
    • 0
      BEDS
    • 0.28
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 14,180
      SQFT
    • $409
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2009
    County:

    School Ratings & Info

    Description

    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.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-06-25T00:27:11.463. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.themarellygroup.com/homes/72479649

    11145 Sunshine Terrace Studio City, CA 91604

    • Price: $5,799,888
    • Status: Active
    • Updated: 19 min ago
    • ID#: 17229918
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.28
    Acres
    14,180
    SQFT
    $409
    $/SQFT
    2009
    Built
    Neighborhood:
    STUD - Studio City
    County:
    Los Angeles
    Area:
    STUD - Studio City
    Property Description
    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.
    Exterior Features

    Lot Size Units Square Feet Parking Features Other Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 3.71 Gross Multiplier 17.91 Gross Operating Income 337740.00 Improvements Amount 352291 Land Value 430466 Laundry YN Yes Net Operating Income 224587.00 Special Listing Conditions Standard Total Expenses 103020.00 Zoning Lard1.5

    Listing provided courtesy of Filip Niculete of Marcus & Millichap.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-06-25T00:27:11.463. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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    5256 South Mission Rd, Suite 1006
    Bonsall CA, 92003