Descrição

Jones Lang LaSalle Americas, Inc., as exclusive advisor, is pleased to present the Sinclair Portfolio (the “Portfolio” or “Properties”) for sale—a rare 19-unit multi-housing investment opportunity comprised of three assets along Sinclair and the adjacent Richland Avenue, that will be delivered vacant. This compelling offering represents an exceptional chance to acquire immediate scale in a highly desirable market characterized by supply-constrained fundamentals and strong demographic tailwinds, while not being encumbered by the City of Los Angeles’ Measure ULA “Mansion Tax”.

The Portfolio consists of 262 and 264 Sinclair as well as 257 Richland Avenue, encompassing 19 residential units across approximately 0.71 acres of prime real estate in Glendale’s well established Woodbury submarket. Constructed between 1949 and 1961, these well-maintained assets consists of almost 15,000 square feet of net rentable area with a practical unit mix of onebedroom/ one-bathroom and two bedroom/one-bathroom configurations that align with current renter demand.

The Properties present a substantial value-add opportunity to implement strategic capital improvements, marking rents to market, and maximize asset performance. Prior to being delivered vacant, 2-bedroom units at the Portfolio were achieving ±2,700/month in rent. After renovation, a new buyer can expect a significant premium of ±$500/unit. The contiguous nature of the three assets provides operational efficiencies and the potential for a unified repositioning strategy that can be executed across the Portfolio.

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