Listing ID20613200
Price$5,850,000
StatusActive
SqFt 14,180
Acres 0.270
CountyLos Angeles
Year Built2009
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.
© 2021. The multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. All data, including but not limited to all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Last updated Thursday, April 15th, 2021.

Based on information from CARETS as of Thursday, April 15th, 2021 08:42:20 AM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Listing courtesy of Filip Niculete, DRE #01905352 from Marcus & Millichap

Contact - Listing ID 20613200

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Bob Hurwitz

433 N. Camden Dr., 6th Floor
Beverly Hills, CA 90210
Phone: 310-477-8865
Phone Alt: 310-701-0880
Fax: 310-893-6417
Broker Email: [email protected]

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