5217 SATSUMA AVE North Hollywood, CA 91601

NOHO Area. All Townhomes. No Rent control. Tremendous Potential. Condo Map In-Place. The most immediate potential is the ability to upgrade the units, bring them up to market rent levels and capture the 14% of rental upside that exists today. 2 of the units have been completely upgraded with laminate and tile flooring, all new kitchens and baths with new cabinetry, vanities, and granite countertops. Another unit has had some significant upgrades while 3 others have not been upgraded and are currently at much lower rent levels. The renovated units are achieving as much as $2,195 in rent while the un-renovated units average $1,647 per month. The other dynamic part of this investment opportunity is the condo conversion aspect of the property. A previous owner had nearly completed the condo conversion process when the market turned for the worse in 2008/2009. When the market for condominium / townhome sales is more robust, an owner will be able to capitalize on this market.