The subject property represents a value-add upside opportunity through improved management, cosmetic rehab and addition of coin-operated washers and dryers to the pre-existing laundry room. The Gilmore Apartments were built in 1980 and are non-rent controlled, which will allow immediate increases in rents. The Subject Property consists of Eight (8) units consisting of Seven (7) 1 Bedroom 1 Bath and One (1) non-conforming 2 Bedroom 2 Bath Units. The building is separately metered for both gas and electricity. There are four covered tandem parking spots and an additional five parking spots located off street for a total of 13 parking spots available on the property.

Location Description:

The subject property is located in the Los Angeles sub-market of Van Nuys and is situated between Victory Boulevard and Vanowen Street. It is in close proximity to Van Nuys High School and Valley Presbyterian Hospital. Strong rent potential in comparison to the surrounding San Fernando Valley markets.

Highlights:

>> 8 Units Consisting of (7) 1 Bedroom 1 Bath and (1) 2 Bedroom 2 Bath Units

>> Non-Rent Control Building in Excellent Condition

>> Great Location in Van Nuys on a Corner Lot

>> 12% Upside in Income Potential

>> Ample Off-Street Parking

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Sales Info:

>> Commision split: 3.0%