2
See all 2 photos
$12,500,000
Est. payment /mo
6 Beds
4 Baths
Active
12360 Osborne Street Pacoima, CA 91331
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC25124018
Bedrooms 6
Property Sub-Type Res Income 2-4 Units
Property Description
Exceptionally well-maintained apartment complex consisting of a good mix of 1, 2, and 3 bedroom units across multiple three-story structures. The property is subject to an restrictive affordability covenant that expires in 2060. Situated on 1.3 acres, the property also offers the potential to add additional units such as ADU's (buyer to verify). Existing City / Government loans may be assumable subject to Lenders' approval. Seller may be subject to certain notice provisions under the Affordable Housing Preservation Laws, including a possible opportunity for certain qualified entities to submit an offer, which may extend close of escrow. Prospective Buyers are encouraged to be able to show proof of history and ability to operate an affordable housing apartment complex, and encouraged to register with the state and/or local housing authority to become a "Qualified Entity" in order to ensure a smooth and timely transaction. Buyer to verify all information including financials. Financial information provided by Seller is based on actual rents in compliance with affordability covenants; scheduled rents and operating expenses are adjusted to adjust for vacancies and one-time expenses and include expected property taxes excluding welfare exemptions (ie a nonprofit Buyer would likely be entitled to welfare exemption and thus reduced property taxes compared to what is shown); and proforma rents are based on market rents that may or may not be able to be fully collected under affordability covenants and rent control increases.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Osborne Street by Whiteman airport
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 3
Level or Stories 3
Others
Tax ID 2536015225
Listed by Judson Leibee JCI Real Estate, Inc.