This is a 1983-built, non-rent-controlled property with significant upside once the units are upgraded. The owner of the adjacent “sister” building at 13518 Burbank Blvd. (identical unit mix, same age, and built by the same developer) upgraded his units a few years ago and is currently achieving the following rents: • 3-bedroom townhouse: $3,295 • 2-bedroom units: $2,295 – $2,795 • 1-bedroom units: $2,195 – $2,250 There is clear rent upside at the subject property. In addition, the owner has not yet applied the annual 8.5% rent increase, and all existing tenants are on month-to-month leases. Three items to note: 1. One tenant is currently behind on April and May rent (potential eviction). 2. There was a prior bed bug issue that was professionally remediated locally (not tented). 3. The owner has elected to sell the building with these known issues reflected in the pricing.