Verdugo Apartments
1600 W. Carson Street - Torrance CA

Interstate Equities Corporation owns two other apartment buildings in the immediate vicinity of the Verdugo Avenue Complex: Cedar and Providencia. This is obviously advantageous in that we are well aware of current actual rental and occupancy rates, and are thus in a position to accurately gauge the strength of the market. First hand knowledge is all the more important when the investment objective is to push the upper end of the rental marketplace based on renovation: we need to know much more than market 'average' rents, rather we need to know what "spike" rents can be achieved for a given level of renovation.

Based on that knowledge, we can confidently assert that Verdugo is considerably under-rented. This clean, well maintained three-story structure over two levels of parking (one at street level, one under) is in a neighborhood where investment properties are in the hands of very ling term owners. Turnover is rate, and in fact this property (like Clinton) was brought to IEC without ever being exposed to the marketplace.

The advantages of the Burbank location are both substantial and well known. Burbank is home to the working Hollywood, which is to say that all major studios (except Paramount) have a major presence here - and Paramount is only a few miles further south. From the perspective of real estate investors, Burbank is completely exempt form rent control, and provides one of the more attractive living environments in the Tris-City (Glendale, Pasadena, and Burbank) area. We are constantly attempting to add to our portfolio in this region, though competition makes acquisitions difficult. On the other hand, this environment augurs well for our ability to secure an attractive price on sale.

All 42 apartment units feature the enduringly popular two-bedroom, two-bath floor plan. Unit size is generous, averaging 1,000 square feet per apartment. Amenities include balconies (most units), central air conditioning, a large swimming pool, and Jacuzzi. Verdugo offers a controlled entry, and a large, attractive lobby area.

	Address	225 W. Verdugo Avenue
	Location	Burbank
	No. of Units	42 Apartments
	Unit Mix	42	2 BR - 2 BA 1, 100 Sq. Ft.
	Rental Range	2 + 2	$881
	Amenities	Swimming pool, Jacuzzi, Central Air Conditioning, Balconies.
	Year of Construction	1986
	Position	B+ Building, B Location
	Building Rentable SF	42,000