The Amherst Apartments
Greens at Inverness Partners, L.P.

The Amherst Apartments are located in one of the most prestigious areas of Southern California known as West Los Angeles. This location is close to UCLA and Westwood Village and enjoys easy freeway access. The climate in West Los Angeles is its primary attraction. Cool ocean breezes make outdoor living enjoyable throughout the year, unlike some micro climates in East Los Angeles. The property was built in 1983 and is therefore exempt from L.A. rent control. All L.A. county properties built before 1979 are subject to rent control for existing tenants. This is vitally important to our objective to increase rental rates because prestige oriented tenants in this area seldom move voluntarily. We see the immediate opportunity to increase rents as this quality of apartment living has already begun rising in price. Amenities include a pleasant jacuzzi and sundeck on the roof, 40 gated subterranean parking spaces, an intercom system, air conditioners, microwaves and fireplaces. More than half of the units were renovated in 1997 and 1998 and the entry lobby was recently refurbished with Mexican paver flooring.

	Address	1512 Amherst Ave. West Los Angeles, CA
	Location	South of Wilshire Blvd., East of 405
	No. of Units	28 Apartments
	Unit Mix	4 4 8 12	2BR–2BA+Den 2BR–2BA 1BR–1BA Bachelors
	Rental Range	2BR+Den 2BR 1BR Bachelor	$1150–$1250 $1050–$1250 $850–$900 $650–$675
	Parking	40 gated spaces. 1.42/unit
	Year of Construction	1983, renovated 1997
	Building Rentable SF	17,700
	Financing	75% of value, adjustable rate