Description

25-unit fee simple LIHTC multifamily asset in Winnetka. Built in 1964 and placed in service in 1997 under the 9% LIHTC program. The property is governed by a 30-year regulatory agreement set to expire in July 2027, after which all income and rent restrictions are eligible to sunset. Subject to Los Angeles Rent Stabilization Ordinance (RSO). Current unit mix includes 4x1BR, 13x2BR, 7x3BR, and 1x4BR. As of July 2025, 42% of units are leased to Section 8 voucher holders. Asset includes 29 gated parking spaces, an on-site laundry facility with five washers and four dryers, and AT&T fiber infrastructure. Ground-floor leasing office and rec room present ADU conversion potential post-expiration. Property has undergone significant upgrades including 10 renovated units, 2023 certified seismic retrofit, and full water repipe in 1999. Offered with an assumable $2.62M Fannie Mae loan at 2.98% fixed interest, interest-only through 2030. Strategically located near Pierce College, Metro G Line, and major corridors including Reseda and Topanga Boulevards. Proximity to Warner Center, CSUN, and employment centers supports long-term tenant demand.