8 Units | Brand New 2019 Construction | Sherman Oaks Adjacent

Highlights:

• Built in 2019, Brand New Construction
• All Units are Huge 3 Bed / 3 Bath Townhouses
• Prime Van Nuys, Just North of Sherman Oaks City Border
• Proven Rents with Four Units Leased at $3,850
• Each Unit Has a Private 2-Car Garage and in Unit Washer/Dryer
• Extremely Low Maintenance and Expenses – Very Easy Management

Description:

LAAA Team is proud to present this beautiful, brand-new, 2019 construction property in the best pocket of Van Nuys, which is just north of the Sherman Oaks city border. The property is comprised of 8 identical townhouse units that are all huge, 1,800 square foot 3-bed / 3-bath units. On a lot of nearly one third of an acre, this well constructed building has a total square footage of 17,318 sq.ft., with each unit having a private 2-car garage and in unit washer/dryer.

This brand new construction property just received the certificate of occupancy this month. In order to prove the rental market, the seller has successfully leased out one of the eight identical units at $3,850/month, with that tenant also paying for all their own utilities, including water, gas, and electric. The remaining vacant seven units are also on the market for lease, but a buyer will be able to choose if they want the seller to accept new lease applications during escrow, or the buyer may choose that they want to handle the leasing process after close of escrow themselves in order to choose their own tenants and rents.

Using this already achieved $3,850 rent as a benchmark for the rest of the identical seven units, a buyer can expect to achieve total gross rental income of $369,600 per year. Since the tenants can pay all of their own utilities, including water, the landlord utilities will be extremely low. The only utilities that the landlord would be responsible for would be the common area electric & water and trash.

Furthermore, due to the fact that this is a brand new building, all of the major parts of the building will be under warranty for years to come. That means if there happens to be any issues with the roof, plumbing, electrical, etc. in the near future, it will not cost a dollar to fix due to the warranties. However, the City has given it's stamp of approval so the odds are that there will be nothing to fix in this building for years to come.


This offering is ideal for the buyer who wants a pride of ownership, brand new construction property with very little maintenance or expenses, in a very dense rental pocket of Van Nuys / Sherman Oaks.


For more information on the below loan quote, please give Sharone a call at 818-212-2714 or email him at Sharone.Sabar@marcusmillichap.com

•Loan Amount - $3,300,000
•Down Payment - $2,200,000
•Interest Rate - 4.25%
•Fixed Term - 5 Years
•Interest Only Period - 3 Years

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