20615 Vanowen ST Winnetka, CA 91306

Pleased to present the opportunity to acquire the Valley Vanowen Apartments in the sub market of Woodland Hills next to Warner Center.  This offering includes twenty five (25) units built in 1988 (Not Subject to Local Rent Control only AB 1482) with a foot print of approximately 20,748 SF, sitting on a 14,755 SF lot zoned LAR3. 
 
The building has been owned and managed under the current ownership since 2016 and is one of the largest buildings available for sale in the San Fernando Valley built after 1978.  Valley Vanowen Apartments offers an investor a true value add opportunity with approximately 27% (+/-) potential upside in rents and is a great alternative to the surrounding inventory of new construction. Over the course of ownership, the Seller has invested in CAPEX upgrades to the property which offers additional benefits to any prospective new owner. In addition, there is potential to convert a large storage room into an ADU unit likely increasing the unit count and NOI - Buyer to verify.

Woodland Hills has emerged as a focal point for residential construction in Los Angeles County. The combination of desirable demographics, pro-growth policies, and a dense concentration of employers present a favorable environment for apartment construction. The L.A. City Council has approved the Warner Center 2035 plan, which aims to transform the sub-market into a "transit-oriented district". Plans to achieve this are through the doubling of available commercial space from 15 million SF to 30 million SF, the lifting of building height restrictions, and the addition of more than 18,000 residential units. The plan is already bearing fruit in the form of accelerating residential development and, if fully realized, could transform Warner Center into the first high-density urban center in the traditionally sprawling, suburban San Fernando Valley.
 
This well located apartment complex offers an investor a rare opportunity to secure a large sized asset not subject to local rent control in a high demand and growth sub market with value add potential thru reposition and renovation.