16256 Horace Street

Description

This beautiful end of the cul-de-sac property backs to the magnificent, and now flowing, Bull Creek in the highly desirable northeast valley area of Granada Hills. The home is currently occupied by very lovely tenants who may be inclined to move upon the close of escrow, or not. It is turnkey for the investor and a plug and play situation. The tenant is paying way, way below market rent at $1,850 monthly on a month-to-month rental agreement. The super site Zillow ''Zestimates'' the rent at $4,056 per month. The tenant pays for utilities and is responsible for the landscape maintenance. With the amazing tenant in mind, there is no lock box, no sign, and no disturbing their quite enjoyment of this fabulous Horace St. home. We have included photos to highlight just how well-kept this property is. We have attached the current termite report, natural hazards report, preliminary title report, available permits, certificate of occupancy (LADBS), water conservation retrofit report, lead based paint report and remediation and, of utmost importance, a complete property inspection report from the highly respected and well know LaRocca Inspection Associates. The property is being sold in as-is, where-is condition and the buyer is to be responsible for termite clearance and retrofit items, if required and desired by purchaser or their lender.The roof is pitched composite, foundation is raised, garage is a separate structure, and the drive is concrete and humongous. Plenty of parking for additional vehicles or recreational vehicles, etc. The backyard is gated and fenced and features a large, concrete patio partially covered with an awning. There is an outdoor kitchen type structure with bar-b-que and refrigerator, tile counters and sink. Need to verify if it is hooked up or the tenants, or what. There was an additional porch patio area at the southwest corner of the main structure. It has been enclosed and actually resembles the rest of the structure, looks like a very decent job (though I am not an expert), and the room is being used as an office/bonus room. We did not find any permits for the enclosure.There are window air conditioners but there is also a central air compressor located in the back. The hardwood floors, which appear to be original, have been refinished and stained with something that resembles a walnut finish. Dark brown, which looks really, really nice. Very warm and cozy, if you will. Kitchen and bathrooms have linoleum type covering. Also, nice but could be upgraded.You may notice the truly amazing access to the 118 freeway. Residents can sit back with a cold drink and enjoy the soothing hum of interstate travel while taking in the Bull Creek waterfront and colorful work performed by local artisans. This is an amazing opportunity for first time home buyers or seasoned investors. It is not perfect, what is? However, it has been professionally maintained by an experienced investor/owner who clearly cares about a tenant's well-being and enjoyment. It is a fabulous starting point. The property is not going to be delivered vacant and will be subject to the tenant's rights per the month-to-month rental agreements. It is important to note that there are provisions that allow for an owner to gain possession of a property for their own occupancy or for a family member. Also, the property is NOT subject to Los Angeles Rent Stabilization Ordinance (rent control). There are variables (such as how many units the landlord owns) that impact the methodology for removing a tenant. Each buyer's situation may be unique, and they should do their own investigation. Also occupied and listed for sale, 8761 Corbin, Northridge $736,000 and 16136 Devonshire, Granada Hills $694,000.