The subject property is a twenty four-unit apartment building in a prime Sherman Oaks Location. Built in 1955, the property is subject to rent control. There is desirable unit mix of eight one-bedroom/one-bath units and sixteen two-bedroom/one-bath units. With a Walk Score of 81, the property is walking distance to the endless shopping, dining and entertainment options on Ventura Boulevard. The property is also walking distance to the newly improved Ralphs shopping center as well close proximity to the Westfield Fashion Square on Riverside Drive. Overall, this location provides residents all the conveniences they need as well as quick freeway access to 101, 405 and 170 Freeways. In addition to the great location, the property has a nice array of amenities such as a pool, courtyard, nicely landscaped entrance, on-site laundry facility and covered and open parking. Investors should see this as a rare opportunity to own within a couple blocks of Ventura Boulevard with upside in rents.
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