- Woodland Hills, CA
Investment Date: January 2012
Acquire a low density appealing asset in an extremely job-rich Warner Center micro location on an off market basis.
Improve the Property’ curb and marketing window to benefit from frontage on major street (33,000 vehicle trips per day). Activate dated amenity spaces with new finishes. Continue Seller interior renovation program on natural unit turn over, including installation of in-unit laundry.
Purchase Price $46,150,000
Price per Unit: $184,600
Price per Foot: $255
In-place Average Rent (PPU / PPSF) $1,480 / $2.04
Market Average Rent (PPU / PPSF) $1,536 / $2.12
Hold Period 7 Years
Levered IRR 17.70%