6935 WOODMAN AVE Van Nuys CA 91405-4218

Additionally, the Property offers investors the opportunity to significantly increase rents by continuing the renovation program on the non-renovated units and common area spaces along with capturing embedded loss-to-lease on renovated units.

• OVER 50% OF UPSIDE IN RENTS - Investors will have the opportunity to capture 56% ($758) upside in rental income by renovating the remaining 7 non-renovated units and can also effectuate 8% ($163) in loss-to-lease on the renovated units.
• FAVORABLE RENTAL PRICE POINTS - Market rents appeal to a large group of renters ($2,139 average rent).
• ATTRACTIVE UNIT MIX & SPACIOUS FLOOR PLANS - The Property features three unique floor plans across a favorable unit mix of two one-bedroom units the average 800 square feet and 7 two-bedroom units ranging from 925 to 1,000 square feet.
• RISING HOME VALUE COST SPURS RENTAL DEMAND - Van Nuys’ median price for a single-family residence has grown to $817.5K. This represents an 31.8% increase in Van Nuys home prices over the past two years. As home ownership remains out of reach for most residents, demand for luxury rental housing will remain strong allowing the Property to outperform the market and drive both occupancy and rental rate growth.
• ANALYSTS FORECAST 4.25% YOY RENT GROWTH FOR NEXT 5 YEARS - Van Nuys is projected to see average annualized rent growth of 4.27% over the next 5 years while maintaining average annual occupancy of above 97.8%