Description

16057 Hartland Street presents a compelling opportunity to acquire a five-unit multifamily investment in a solid Van Nuys location, offering investors an attractive combination of current income and long-term rental growth. The property features a desirable unit mix of three one-bedroom/one-bathroom units and two three-bedroom/two-bathroom units.The two three-bedroom units were constructed in 2009 and are not subject to the Los Angeles City Rent Stabilization Ordinance (RSO),but are subject to CA State rent control, AB 1482. This allows an investor greater flexibility to capture future rental growth on the property's largest units without the LA City RSO restrictions. Residents enjoy proximity to Lake Balboa, the Sepulveda Basin Recreation Area, major shopping and dining corridors, and some of the San Fernando Valley's most established employment centers.Convenient access to the 405 and 101 Freeways provides connectivity throughout the Valley, Westside and greater Los Angeles. 16057 Hartland Street represents an opportunity to acquire a desirable multifamily asset with combination of two RSO-exempt three-bedroom units, a diversified unit mix, substantial parking and a strong Van Nuys location.