9949 PINEWOOD AVE TUJUNGA, CA OFFERING MEMORANDUM TABLE OF CONTENTS 04 Property Overview 06 Area Overview 16 Financial Overview EXCLUSIVELY LISTED BY ADAM FELDMAN Associate D: +1 (818) 923-6112 M: +1 (310) 749-8140
[email protected] License No. 0209072 (CA) DANIEL WITHERS Senior Vice President & Senior Director D: +1 (818) 923-6107 M: +1 (310) 365-5054
[email protected] License No. 01325901 (CA) | 2 3 | | 2 3 | PROPERTY OVERVIEW 01 9949 PINEWOOD AVE TUJUNGA, CA | 4 5 | THE OPPORTUNITY 9949 Pinewood Avenue is a ten-unit apartment building located in Tujunga, CA. Built in 1962 this ten-unit property features a great unit mix of (6) one-bedroom, one-bathroom units and (4) two- bedroom, one-bathroom units. With 48% upside this property has attractive upside potential for an investor. There has been three apartment transactions in Tujunga in the last 12 months, this is a rare opportunity to purchase a property in this market. Located directly in-between Tujunga Canyon Boulevard and Foothill Boulevard tenants benefit from the restaurants and businesses located around the corner on Foothill Blvd. The Property is a short drive from the 210 freeway which provides access to the rest of the San Fernando and San Gabriel Valley PROPERTY HIGHLIGHTS • 10-Units built in 1962 • Unit Mix (6) 1+1 (4) 2+1 • 42% Potential rental upside • Walk Score 77-Very Walkable • Walking distance to restaurants and businesses on Foothill BLVD • Healthy Laundry Income • 7,718 SQFT on a 8,503 SQFT Lot zoned LAR3 | 4 5 | AREA OVERVIEW 02 9949 PINEWOOD AVE TUJUNGA, CA | 6 7 | TUJUNGA, CA Sunland-Tujunga is a neighborhood in the San Fernando Valley region of the city of Los Angeles located by the foothills of the San Gabriel Mountains in the Crescenta Valley.