10621 Valley Springs, North Hollywood, California 91602

Property Description

- Favorable Assumable Financing with JP Morgan Chase. 3.80% fixed for approximately 3.5 more years
- 45-unit value add apartment building in beautiful West Toluca Lake/North Hollywood - constructed in 1987, making it exempt from the Los Angeles City Rent Control (only subject to California State Rent Control)
- Current rents are approximately 25% under market providing a new investor the opportunity to renovate units and common areas to maximize rental income.
- An excellent unit mix consisting of 15 one-bedroom/one-bathroom units* and 30 two-bedroom/two-bathroom units.
- The property features desirable amenities such as controlled access, covered and gated parking, key fob entry, an elevator, an on-site laundry facility, leasing office, fitness center and a rooftop terrace with views and a spa.
- The units feature open floor plans with stainless steel appliances (select units), gas range stove, central heat, and air-conditioning, fireplaces (select units), and high ceilings (select units)
- Walk Score of 76: just blocks from trendy coffee shops, cafes, restaurants, and retail along both Vineland Avenue and Riverside Drive
- Conveniently located near the 101, 134, and 170 freeways providing easy access to surrounding Universal City, NoHo Arts District, Sherman Oaks, Encino, Burbank, Hollywood, and Glendale
- Short walk (0.6 miles) to the Universal/Studio City and North Hollywood Metro Red Line Stations offering a viable public transportation option for tenants