Property TypeResidential Income
We are pleased to present this significant price reduction for 11145 Sunshine Terrace Avenue, located in Studio City, CA. This is rare opportunity for an investor to acquire a trophy 8-unit condominium building in the hills of Studio City, south of Ventura Blvd. This 2009 construction building is not subject to any state or city rent control laws. The rents are currently below market, and a new owner could step in and raise rents to market with relatively minimal work required. Furthermore, there is 1 vacancy that the Seller is leaving vacant for marketing purposes. A buyer can choose to rent this vacancy during escrow or close escrow with them vacant, depending on the buyer's investment strategy. These large 3 bedroom, 2.5 bath town-homes are individually condo mapped meaning each condo has its own APN and therefore can be sold separately in the future. These large condos come with several layouts, and were originally built to be sold individually; however the owner decided to keep these condos as rentals ever since. This presents a new owner with an opportunity to hold onto these units as rental property with good day 1 cash flow and rental upside potential, and then wait to individually sell off each condo when market pricing is optimal. The condos vary in size from 1,600 to 2,200-square feet.