Commercial%252520RE_edited_edited_edited

10230 Fernglen Ave, Tujunga

CLOSED

7 UNITS

$1,500,000

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PROPERTY LOCATION

10230 Fernglen Ave, Tujunga, CA 91042, USA

PROPERTY DETAILS

Property Type

Multifamily

Units

Price/Unit

7

$214,286

Price/Sqft

$378.31

Building Sqft

3965

Lot Sqft

Current Cap Rate

9633

4.00%

Current GRM

15.54

Year Built

1953

Zoning

Market Cap Rate

LARD1.5

6.40%

Market GRM

11.06

CONTACT

LISTING TEAM

Nico.jpg

Nadeerah Faquir

310.256.3820

DRE 02095203

Nico.jpg

Nico Rosmarin

424.226.9449

DRE 02023847

Nico.jpg

INVESTMENT DESCRIPTION

Nadeerah Faquir and Nico Rosmarin of Lyon Stahl Investment Real Estate are pleased to present 10230 Fernglen Avenue, a 7-unit apartment building in Tujunga, CA. First time on the market in almost 20 years, 10230 Fernglen Avenue is comprised of three (3) 2-bedroom 1-bathroom, three (3) 1-bedroom 1-bathroom, and one (1) studio units for a total living area of 3,965 sqft, situated on a large 9,633 sqft lot.

The owner has made some updates throughout the units. The 2-bedroom units feature new windows and all but two of the units have been upgraded to copper plumbing. The back 1-bedroom has been remodeled throughout. The studio unit was fully remodeled, featuring tile flooring in the bathroom and laminate flooring in the living area and kitchen, fresh paint, wall A/C, new light fixtures, new vanity, new toilet, new medicine cabinet, new toilet in the shower enclosure, new cabinets in the kitchen, new granite counter tops in the kitchen and new ceiling fan in the living area and a new stove.

10230 Fernglen Ave is located in a quiet residential neighborhood with a walk score of 77. The property is also in close proximity to North Hollywood, Burbank, and the Hollywood Burbank Airport. There are also several nearby attractions including Angeles National Golf Course, the Hansen Dam Golf Course and Aquatic Center, Universal Studios, Hollywood, Warner Brother Studios, Walt Disney Studios, and the Los Angeles Zoo. This location also provides convenient access to beautiful sights, parks, and hiking trails including the Deukmejian Wilderness Park, Whiting Woods Hiking Trail, Verdugo Mountains, and Descanso Gardens, Griffith Park and Observatory, and the Hollywood Sign.

This is a unique opportunity to for an owner-user and investor alike to acquire income property in a sought-after area of Los Angeles County with minimal inventory.