Estancia Apartments is an eight-unit property located in the heart of the NoHo Arts District. The Arts District is an area of the San Fernando Valley that is undergoing rapid growth and urbanization as dozens of development projects are currently underway or in planning stages. This will increase the density, bringing new retail and entertainment options, and transform this once sleepy bedroom community into a vibrant city-like community with walkable streets, and improved services surrounding major transit hubs.
Located at 11259 Otsego Street, Estancia Apartments was built in 1950 and painstakingly restored in 2018, maintaining the architectural charm of the exterior while bringing the unit interiors into the 21st century. The property features a unit mix of all one-bedroom and one-bath units that have an average living area of approx. 665 square feet and include individual water heaters.
Six of the eight-units were comprehensively restored in 2018 with significant effort made to maintain the mid-century charm. Existing hardwood floors were renewed and restained throughout. Updated kitchens feature mosaic hexagon tile flooring, attractive dual-tone shaker style cabinetry with durable quartz countertops, modern stainless steel appliances, and more.
ASSUMABLE LOAN: Buyer has the option of assuming the existing loan. Luther Burbank 5 Year Fixed (Originated in July, 2018) 4.55% Fully Amortized Loan amount is $1,465,000
6 of the 8 units have been restored with designer finishes
Charming and spacious 1-bed units averaging 650 Sq. Ft.
A+ NoHo Arts District location
Surrounded by dozens of new developments
New Whole Foods 365 Market opening less than 600 ft from property
Chandler/Lankershim Metro Station within ½ mile
