SOLD
This simply may be the coolest apartment building I have seen in my career.
Location is top notch.
Views are incredible.
The numbers honestly dont get the blood pumping, however if you are looking for an replaceable asset this is the one.
This is Loma Portal... So you do have some noise from jets, however its not bad at this location.
With regard to the interiors:
each of them have different fixtures and such in the kitchens;
Property managers unit have granite counter tops
Some of the units have yellow tile, others have turquoise instead.
There were no doors on any of the bathrooms in the respective master bedrooms of the units.
According
to the property manager, all of them were different in that regard as
well, some tenants had done things to rectify this oddity and others
left it as is.
There
had not been a vacancy for 18 months until three units became available
recently due to tenants health problems. He posted ads on craigslist
and put a sign outside. All of the units were rented sign unseen. 1bd:
$1650; 2 bd: $1950. He will be putting in new carpet and new paint in
each of the newly rented units. Tenants move in June 1st.
There were new windows put in all of the units.
The elevator recently had $80K worth of work put into it. it's still not "pretty" but the motor and such is essentially new.
The
owner applied and waited almost 12 years to have sound proofing
completed on the property by the FAA (Quieter Home Program). The work
was completed in June of last year a cost of over $2M was tested and
complied with all requirements for sound proofing, air tightness and air
purification Following is a list of items installed in each unit:
- All new Milgard windows and sliding doors
- All new steel doors and frames
- All new American Aldes Air Ventilation/purification systems
- All new 2" blinds
