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CB Richard Ellis and Team Lustig-Bower are pleased to present investors with a unique opportunity to purchase 100 non-rent control units in close proximity to a prime Los Angeles transit corridor. The North Hollywood Park Apartments is situated one block from the bustling NoHo Arts District. The stabilized asset boasts strong fundamentals, a good unit mix and a desirable location. Built between 1986 and 1987, the North Hollywood Park Apartments is comprised of three apartment buildings all within half a block of each other. Within the last two years, 72 of the 100 units were lightly renovated along with the common areas, hallways and the exterior of the building.
The North Hollywood Park Apartments is conveniently located in North Hollywood near the 101, 134 and 174 freeway exchanges. Additionally, the MTA red and orange lines stop just a few blocks away from the properties at the North Hollywood Subway Station. These transit options provide residents quick access to Downtown Los Angeles, Burbank, Pasadena, Glendale and the greater San Fernando Valley.
The North Hollywood area has recently experienced a wave of newly constructed residences and businesses. According to www.metrostudiolankershim.com "NBC Universal announced plans to create its West Coast News and Content Center at Metro Studio @ Lankershim, and also intends for Metro Studio @ Lankershim to serve as home to NBC Network News' Los Angeles Bureau, KNBC, KVEA, and Access Hollywood." With development projects such as this underway, North Hollywood is proving to be a hub for growth and rejuvenation.
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