Tujunga Crest Apartments Multi-Family FOR SALE


Tujunga, CA
$6,500,000 USD
818-224-7949
, Tujunga, CA for Sale
$6,500,000 USD
Multi-Family - FOR SALE
1/16
null | 6.1% Cap Rate

Tujunga Crest Apartments
Tujunga, CA


HIGHLIGHTS

  • 11.5 GRM | 10 @ market
  • 6.1% CAP | 7.3% @ market
  • 3 miles to Angelus National Golf Club
  • Max allowable rent increases - non RSO
  • High barrier to entry, short housing stock

OVERVIEW

The Alexanian Apartment Advisors are pleased to present this unique 24 units + 2 n.c investment opportunity in the emerging market of Tujunga Ca. Max state allowable increases (ab 1482) - no RSO. The 2 building portfolio was built in 1987, located on the same street just a couple buildings apart, comprised of (12) 2+2s & (12) 1+1s all with central AC, fireplaces, enclosed garages. Both buildings have a large storage space that already has kitchens and bathrooms which are not currently occupied. An astute investor will realize that effectively there is 26 units without the requirement of an onsite manager with a market cap rate of 7.3%. Furthermore the enclosed garages might potential offer additional revenue via ADU conversion? Buyer to verify. Situated only 5 minutes to La Crescenta/Montrose and 7 minutes to Glendale, Tujunga continues to experience a major influx of renters seeking immediate access to local amenities and workforce while achieving a more affordable housing option. Just 3 miles to the Angelus National Golf Club. * Contact Greg or Levon for offering memorandum and additional questions *

ASK ABOUT THIS PROPERTY

Levon AlexanianAlexanian Apartment AdvisorsMore Info
818-224-7949

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Levon AlexanianAlexanian Apartment AdvisorsMore Info
818-224-7949

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.