5511 Corteen Place, Valley Village, CA 91607

Outstanding Opportunity to own a well located property with below market rents. There is approximately 22% upside in the rents. This is based on asking rents on the same street for same period units that have had some updating. A new owner should be able toachieve market rents through scheduled annual rent increases allowed by L.A. Rent Stabilization Ordinance and tenant turnovers.There is secure front intercom access and a remote controlled parking gate with plentiful off-street parking. There is an excellent unit mix consisting of ten (10) 2 BD+1.5 BA and two (2) 1 BD+1 BA units. These are spacious units averaging955 Sq.Ft. for the 2 BD's and 835 Sq.Ft. for the 1 BD's. Most of the units have walk-thru style kitchens. Two upstairs units have largebalconies and each floor has an interior walk-in storage room that was previously rented out. There has been some cooper pipingreplacement and a new building water heater tank was installed in 2013. Excellent assumable loan (optional - see financial information below).The property is located between Chandler and Burbank just south east of the Whitsett and Burbank intersection. It is centrally located just north of Sherman Oaks and Studio City with easy access to the 101 Freeway.