11145 Sunshine Terrace
Studio City, CA 91604
MLS #17229918

Income
  • 8units
  • 14,180sq ft
$5,799,888
Est. P&I payment: $22151.64/mo
11145 Sunshine Terrace, Studio City, CA 91604
  • 11145 Sunshine Terrace, Studio City, CA 91604 Photo 1
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  • 11145 Sunshine Terrace, Studio City, CA 91604 Photo 9
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Description for 11145 Sunshine Terrace, Studio City, CA 91604
We are pleased to introduce 11145 Sunshine Terrace, located in Studio City, CA. This is a rare opportunity for an investor to acquire a trophy apartment building in the hills of Studio City. This 2009 construction building is not subject to rent control. The rents are currently below market, and a new owner could step in and raise rents to market with relatively minimal work required. This property lacks direct competition in its immediate area. The minimum home rental price in the immediate area hovers around $5,500. There is plenty of room between that price and the building's current rents, which provides plenty of upside to be capitalized upon.These 3 bedroom 2.5 bath townhomes are condo mapped, with several layouts, and were originally built to be sold individually. This presents a new owner with an opportunity to hold onto these units as a rental property or to individually spin them off when market pricing is optimal.
MLS #17229918
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My Notes for MLS #17229918

General Features

  • Number Of Buildings: 1
  • Number Of Units Total: 8
  • Year Built: 2009
  • Zoning: LARD1.5
  • Improvements Amount: 352,291
  • Land Value: 430,466

Exterior Features

  • Stories Total: 2
  • Lot Size SqFt: 12,165
  • Lot Size Units: Square Feet
  • Parking YN: 1
  • Parking Features: Other

Utility Features

  • Cooling YN: 1
  • Cooling: See Remarks
  • Laundry YN: 1
  • Laundry Features: See Remarks

Financial Features

  • CapRate: 3.71
  • Net Operating Income: 224,587
  • Price Per SqFt: 409.02
  • Total Expenses: 103,020
  • Gross Multiplier: 17.91
  • Gross Operating Income: 337,740

Miscellaneous Features

  • Building Area Total: 14,180
  • Days On Market: 286
  • Special Listing Conditions: Standard
  • Cumulative Days On Market: 286

Location

 
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Directions to 11145 Sunshine Terrace, Studio City, CA 91604
Near the corner of Sunshine Terrace and Fruitland Drive
Listing information for 11145 Sunshine Terrace, Studio City, CA 91604 was graciously provided by our friends at the listing brokerage, Marcus & Millichap and by listing agent Niculete Filip DRE# 01905352

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P&I Payment $22151.64
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Alliance Realty's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Alliance Realty, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 04/19/2018 at 5:59am
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