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Listed by Judson Leibee • JCI Real Estate, Inc.
$ 11,950,000
Est. payment /mo
Price Dropped by $550K
12360 Osborne Street Pacoima, CA 91331
83,617 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 83,617 sqft
Price per Sqft $142
MLS Listing ID OC-25124018
Year Built 2008
Lot Size 1.307 Acres
Property Sub-Type Apartment
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
Area Pac - Pacoima
Zoning LARD1.5
Interior
Laundry See Remarks
Exterior
Parking Features Carport
Pool None
Community Features Sidewalks, Urban
Building
Lot Description Lot Over 40000 Sqft, 0-1 Unit/Acre
Sewer Public Sewer