We recently listed an eleven unit apartment building in North Hollywood at 6606 Vineland. The property generates an excellent stream of income and has very low expenses with very little maintenance required.
An experienced apartment investor can quickly add value by applying some cosmetic upgrades and perhaps revamping the structure a bit.
The reason why this deal is relatively a great value-add opportunity is because of the ongoing changes occuring up and down the Vineland Ave corridor. More and more buildings are being renovated, including a new construction on a vacant 60,000 lot just south of the subject property.
For more information about this investment opportunity and others, feel free to give me a call any time. (818) 400-7557
Also, check the LoopNet page! http://www.loopnet.com/Listing/17233302/6606-Vineland-Ave-North-Hollywood-CA/?
Just a quick update for those who were following this transaction:
Our Del Taco listing in Norco (2552 Hamner Ave) sold for $1,150,000 after an aggressive 90-day marketing campaign on August 10th, 2011. Dozens of offers were generated by calling surrounding and like-kind property owners, reaching out to investors who were in an exchange and looking for an upleg, reaching out to active brokers also specializing in NNN deals, and simply creating a buzz around the NNN investment and Del Taco franchise communities.
Despite all of the roadblocks and obstacles this deal faced, we were able to successfully close the transaction with an all-cash buyer with minimal contingencies.
To talk about the details of this deal and how we can help you successfully list and sell your commercial property, feel free to give me a call any time. (818) 400-7557