The 13218 Barbara Ann St. apartment complex is comprised of 26 garden-style apartment units in one two-story building built in the 1960's, zoned LAR3. It's comprised of a highly desirable unit mix of 14 (1+1), 11 (2+2), and 1 (2+1.5) units. The property offers residents onsite laundry facilities, a swimming pool, and parking. With the property's rents currently below market levels, opportunity exists to renovate the units and garner higher rents that are more in line with market. A well-maintained building offering desirable rental upside, this asset can be purchased at an attractive $138,269/unit and a cap rate of 5.06%.The property is located south of Sherman Way and west of Coldwater Canyon in North Hollywood at the end of a cul-de-sac. Daily conveniences in the immediate area abound, including a wide variety of stores, restaurants, banks, and supermarkets all along Sherman Way. Close proximity to the 170 Freeway makes it convenient to travel to Downtown LA, Universal City, Hollywood, Glendale, and Burbank via the 5, 134, and 101 Freeways. Centrally located to the neighborhoods of Valley Glen, Valley Village, and Studio City, and approx. 2.2 miles to Los Angeles Valley College, 1.2 miles to Valley Plaza Park, and 4 miles to NoHo Arts District.
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