The LA Apartment Advisors are proud to present this 20 unit apartment building located at 12100 Valley Spring Lane in prime Studio City, California. Built in 1965, the offering sits on 13,164 square feet of land with 20,392 square feet of total building square footage and consists of 10- one bed / one bath, 8- two bed / two bath and 2- three bed / two bath units.

The Seller has completed renovation to 11 of the 20 units including but not limited to recessed lighting, crown molding, new wood flooring, blinds, new doors, stainless steel appliances, new cabinets, and tile. Additional improvements include the completion of the required soft story construction in 2019, renovated elevator cab, filling in the pool, which paves the way for the vision of the new owner.  Additionally, after the 1994 earthquake the building was structurally renovated by the previous owner. Improvements included brand new windows and the installation of central heating and air conditioning. Some common area features include a community courtyard, elevator access, on-site covered/gated parking, and being located on a corner lot surrounded by single family homes.  

With a Walk Score of 92 and great corner visibility, this rare jewel is well located in the heart of Studio City, just a few steps from the best retail in the San Fernando Valley. Tenants are across the street from the famed Sunday Farmers Market and proximate to coffee houses, (Alfred, Joan's on Third), local eateries, upscale shopping, banking, groceries (Gelson’s, Whole Foods and Trader Joe's) and entertainment venues. Centrally located, Laurel Towers is proximate to the West Valley, Hollywood, Burbank, Downtown, Beverly Hills and Century City. The outstanding location could not be stronger for employment, conveniences, shopping, freeways and lifestyle with such employers as Universal Studios and CBS Studios blocks away. 

The Studio City sub-market has a consistently high occupancy level of over 97%, very strong home prices, and a population of residents with strong median income that consists of a highly educated population.  Many Fortune 500 employers are also within this entertainment dominated sector.  

This rare value-add investment opportunity is listed at $7,950,000 and just under a 4% cap, offering solid cash flow with an estimated 21% upside, as the remaining 9 non-renovated units are re-positioned and brought to market rents.