PROPERTY SUMMARY

PROPERTY DESCRIPTION

Built in 1987, the Pinewood Apartments offers investors a rare opportunity to acquire a non-rent controlled, 14-unit apartment community in Tujunga.  The property is comprised of an ideal unit mix featuring (4) one-bedroom/one-bath units at an estimated 600 square feet, and (10) two-bedroom/one-bath units at approximately 775 square feet.  Seller has upgraded 50% of the units (see rent roll for details).

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Individual units are outfitted with central air conditioning, dishwashers, fireplaces, and most feature stunning mountain views.  Tenants additionally benefit from plentiful, secured parking comprised of individual enclosed garages with direct access to the building.

PROPERTY HIGHLIGHTS

• Built in 1987, Subject Property is Not Subject to Rent Control.

• Ideal Unit Mix: (4) One Bedrooms, (10) Two Bedrooms.

• All Units Feature Central A/C, Fireplaces, Dishwashers, and Large Walk-In Closets.

• Enclosed Garage Parking with Direct Access to the Building.  Each Unit Gets 2 Spaces.

• Almost 50% of Units Have Been Completely Rehabbed (See Agent for Details).