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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$11,950,000

Est. payment - /mo

1.31 Acres Lot

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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC25124018

HOA Y/N No

Year Built 2008

Lot Size 1.307 Acres

Property Sub-Type Apartment

Property Description

Exceptionally well-maintained apartment complex consisting of a good mix of 1, 2, and 3 bedroom units across multiple three-story structures. The property is subject to an restrictive affordability covenant that expires in 2060. Situated on 1.3 acres, the property also offers the potential to add additional units such as ADU's (buyer to verify). Existing City / Government loans may be assumable subject to Lenders' approval. Seller may be subject to certain notice provisions under the Affordable Housing Preservation Laws, including a possible opportunity for certain qualified entities to submit an offer, which may extend close of escrow. Prospective Buyers are encouraged to be able to show proof of history and ability to operate an affordable housing apartment complex, and encouraged to register with the state and/or local housing authority to become a "Qualified Entity" in order to ensure a smooth and timely transaction. Buyer to verify all information including financials. Financial information provided by Seller is based on actual rents in compliance with affordability covenants; scheduled rents and operating expenses are adjusted to adjust for vacancies and one-time expenses and include expected property taxes excluding welfare exemptions (ie a nonprofit Buyer would likely be entitled to welfare exemption and thus reduced property taxes compared to what is shown); and proforma rents are based on market rents that may or may not be able to be fully collected under affordability covenants and rent control increases.

Location

State CA

County Los Angeles

Area Pac - Pacoima

Zoning LARD1.5

Interior

Fireplace No

Laundry See Remarks

Exterior

Parking Features Carport

Carport Spaces 20

Pool None

Community Features Sidewalks, Urban

Total Parking Spaces 20

Private Pool No

Building

Lot Description 0-1 Unit/Acre, Lot Over 40000 Sqft

Story 3

Entry Level Three Or More

Sewer Public Sewer

Water Public

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 2536015225

Acceptable Financing Cash to Existing Loan, Cash to New Loan, Government Loan

Listing Terms Cash to Existing Loan, Cash to New Loan, Government Loan

Special Listing Condition Standard

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Listed by Judson Leibee JCI Real Estate, Inc. 949-226-2858

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12360 Osborne ST Pacoima, CA 91331