Entering the market for the first time, this 21-unit, condo-quality asset in highly desirable Mission Hills presents a rare and compelling investment opportunity.
The property offers significant upside potential through multiple value-add strategies: approximately $1,000 per unit in rental upside, the ability to gradually increase rents to market levels, potential conversion of 16 garages into additional income-producing units (subject to approvals), or a full renovation and repositioning to achieve premium market rents. With solid existing income and clear opportunities to enhance revenue, a new owner can implement a strategic plan to substantially increase NOI over time. Residents enjoy a strong amenity package, including secured gated access, 15 open parking spaces, 16 garages, central heating and air conditioning, private balconies or patios, 20 working fireplaces, spacious storage closets, elevator service, an on-site laundry room, and four community BBQ decks—features that support tenant retention and future rent growth. Current rental rates are approximately $1,000 below market per unit, providing immediate and measurable income upside. Ideally located at the end of Goldfinch Street in the heart of Mission Hills, the property benefits from a premier location with consistently strong rental demand and long-term appreciation potential.