SUNNYRIDGE APARTMENTS
9147 Van Nuys Boulevard
Panorama City, CA 91402
OFFERING METRICS
PROPERTY OVERVIEW
Located on Van Nuys Boulevard in Panorama City, California along the approved future East Valley Transit Corridor, this 21+1 apartment complex has been renovated with most units maintaining updated interiors and exteriors and offers a buyer to purchase an asset with huge 30% rental upside. With a unit mix of (14) - 2 bed / 2 bath , (7) - 1 bed / 1 bath, and non-conforming (1) – Studio / 1 bath units
Updates to the asset include updated entry, telecom systems, replacement of all windows, new wood paneling in courtyard, new awnings, updated units, replacement of a/c units, and gas shut off valves.
Currently, there is a non-conforming studio with the opportunity to a legal 22nd unit (buyer to verify). Upon legalization, the unit will be designated as affordable and will maintain a 55-year period of affordability at 50% of Area Median Income.
With the asset's great location within proximity to Kaiser Permanente and retailers, an owner is given a great investment for growth that will prove increased rental rates and improving demographics.
OPPORTUNITY HIGHLIGHTS
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Renovated apartment complex with updated Interiors and exteriors
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Over 30% upside in rental potentail
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Great unit mix of (14)- 2 Bed / 2 Bath and (7) - 1 Bed / 1 Bath units
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Potential to convert non-confirming studio into a legal 22nd unit (Buyer to Verify)
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All units maintain a patio or balcony
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On-site laundry room with current lease in place
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Secure entry with telecom system
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Located directly on the approved East San Fernando Valley Transit Corridor with a stop slated for Nordhoff Street and Van Nuys Boulevard
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LOCATION MAP
CONTACTS
CASEY PICARD
Managing Partner
626.376.9224