We are pleased to introduce 11145 Sunshine Terrace, located in Studio City, CA. This is a rare opportunity for an investor to acquire a trophy apartment building in the hills of Studio City. This 2009 construction building is not subject to rent control. The rents are currently below market, and a new owner could step in and raise rents to market with relatively minimal work required. This property lacks direct competition in its immediate area. The minimum home rental price in the immediate area hovers around $5,500. There is plenty of room between that price and the building's current rents, which provides plenty of upside to be capitalized upon.These 3 bedroom 2.5 bath townhomes are condo mapped, with several layouts, and were originally built to be sold individually. This presents a new owner with an opportunity to hold onto these units as a rental property or to individually spin them off when market pricing is optimal.
Listing provided courtesy of
, Marcus & Millichap
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Named for the studio lot that later became CBS Studio Center, Studio City has transcended its early moviemaking roots to become a quietly hip community that offers all the charms of small town life with easy access to all the city offers.
Real Estate: Studio City real estate for sale includes both single family homes and condos and apartments for rent and sale. Ranch, traditional, and mid-century modern homes are prevalent in the area. There are several large apartment communities in the area including Archstone and Avalon.
Community Life: Ventura Boulevard offers retail shops, gastro pubs, and trendy cafes. Thrift shops and indie boutiques abound and “sushi row” offers some of the best sushi options in the Valley. The Studio City Farmers’ market is held every Sunday from 8:00 a.m. to 1:00 p.m. Fryman Canyon Park is a 122 acre park with spectacular views, a fitness course and access to a mountain trail that connects with other parks. The park offers year-round springs and wooded canyons happily traversed by hikers.
Education: Studio City is served by the Los Angeles Unified School District. Local public schools include Walter Reed Middle School and Rio Vista Elementary School. There are many private schools in the area including Harvard-Westlake School, Campbell Hall School, Bridges Academy, Oakwood Elementary, and Morning Star Christian Academy.
Transportation: Studio City is most easily accessed by the 101 Freeway. The DASH line runs through Van Nuys/Studio City for commuters.
Local Attractions: The Studio City Walk of Fame along Ventura Boulevard features tiles honoring Republic Studios and the many stars who starred in its productions. The historic Sportsmen’s Lodge dates back to before the film industry but played host to many celebrities during Hollywood’s golden era and has six acres of gardens and water features. The home from the popular “Brady Bunch” television series is located in the area.
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