Description:

PUBLIC NOTICE OF SALE -See attached doc. Court date is set for March 1, 2023 @9:30AM. Opening Bid will be $5.4MM (4.14% CAP /15.38 GRM Current). First time ever on the market, 12324 Montana Avenue features 10 large and unique apartment homes housed in a beautiful Mid-Century-Modern style building located in prime Brentwood. Adjacent to the Brentwood Country Club and surrounded by luxury condos and multi-million-dollar homes, the 1958 two-story building showcasing its distinctive Butterfly-Roof was originally designed by Alfred T. Wilkes, whose homes can be found in Bel-Air, Holmby Hills & Hancock Park. The building’s dramatic V-shaped silhouette makes it a standout and provides a striking alternative to the surrounding traditional roof designs. The building features an ideal unit mix of (6) 2br+2ba units, (2) 2br+den+2ba units and (2) 1br+1ba units averaging 1,200 square feet each. Unit interiors include towering cathedral-like ceilings with floor to ceiling glass, cantilever wrap-around balconies, large stone fireplaces, black slate/tile floors, spacious balconies and patios and hardwood floors. As the post renovated market-rents offer significant rental upside over average in-place rents, with interior finishes well-maintained in their original conditions, 12324 Montana Avenue is a fantastic value-add opportunity. A unique and custom-designed asset in the most ideal of locations, 12324 Montana offers what every investor is looking for - a Stylish Building in an Unbeatable Location with Huge Upside Potential.  Contact LA1 or LA2 for full offering memorandum. Soft story not completed. Property being sold by court-appointed referee and may be subject to court confirmation and overbid hearing. (Court ordered sale, NOT Probate).  Seller may carryback a portion of the purchase price. Ask brokers for detail.   We have received permission from the Court Receivers to schedule the offer due date on December 2, 2022 by 12:00PM. Please contact LA1 or LA2.