The LAAA Team of Marcus & Millichap is pleased to introduce 11145 Sunshine Terrace Avenue, located in Studio City, CA. This is rare opportunity for an investor to acquire a trophy 8-unit condominium building in the hills of Studio City, south of Ventura Blvd.

This 2009 construction building is not subject to any state or city rent control laws. The rents are currently below market, and a new owner could step in and raise rents to market with relatively minimal work required. Furthermore, there are 3 recent vacancies that the Seller is leaving vacant for marketing purposes. A buyer can choose to rent these vacancies during escrow or close escrow with them vacant, depending on the buyer's investment strategy.

These large 3 bedroom, 2.5 bath town-homes are individually condo mapped meaning each condo has its own APN and therefore can be sold separately in the future. These large condos come with several layouts, and were originally built to be sold individually; however the owner decided to keep these condos as rentals every since. This presents a new owner with an opportunity to hold onto these units as rental property with good day 1 cash flow and rental upside potential, and then wait to individually sell off each condo when market pricing is optimal.

The condos vary in size from 1,600 to 2,200-square feet, with an average size of 1,770 sq.ft. Furthermore, two of the units have breathtaking views of the hills and San Fernando valley. The property also has a ground level garage where each unit is assigned two parking spaces, and then there is ample additional guest parking spaces. The unit interiors were built to luxury specifications with hardwood floors, tiled fireplaces, kitchen tile flooring, granite counter tops, stainless steel appliances, tile back splash and cherry cabinets. Please look through the marketing package to see interior pictures.

Studio City is an extremely affluent neighborhood in the San Fernando Valley. The surrounding communities are also all affluent and include: Beverly Crest, The Hollywood Hills, North Hollywood Arts District, Toluca Lake, Universal City and Valley Village.

Ventura Boulevard, which is just a few steps away from this property, is the San Fernando Valley's premier commercial corridor. In Studio City, this corridor is lined with high-end boutique retailers, and fine dining and entertainment.

This investment opportunity is perfect for the investor looking to purchase an extremely well located, completely non-rent control, and very well built property, with the additional value add benefit of both raising rents to achieve higher cash flow and eventually selling off each condo individually for maximum total profits.