FIRST-TIME ON MARKET EVER! Once in a Lifetime Oppty to Acquire 1370 Calabazas (12 Oversized 2 Bedroom Units). All Spacious 2 BR's: (9) x 2 BR/1.5 BA Townhouse Units on 2-Levels: (946 SF) - Remodeled + (3) x 2 BR/1 BA: (790 SF) - Newly Rebuilt. All Units Offer Desirable Floorplans, Dishwashers, etc. Townhouse Units Offer Private Patio/Yards. Due to Fire in 2022, (3) 2 BR/1 BA Units in Rear Building Were Completely Rebuilt (New), and (9) 2 BR/1.5 BA Units Were Substantially Upgraded (Remodeled) Due to Building Closure. All Renovated Units Leased Within Last 6-Months w/ Slightly Below-Market Rents. 1577 Pomeroy (20 Spacious Units), and 1575 Pomeroy (Single-Family Home Development on 9,000 SF Parcel) Can Be Purchased TOGETHER OR SEPARATELY. Oversized 2 BR Floorplans Offer Potential to Reposition Asset into High-End Apartment Homes w/ Outdoor Living/Private Patios. Opportunity to Move Tenants Between Buildings to Free Up/Renovate Units. Potential to Install In-Unit Washer/Dryers and High-End Upgrades to Achieve Even Higher NOI/CAP. Walkscore: 93. Walkable to Most Amenities. Easy Access to El Camino Real, Lawrence Expwy, Highway 101, 280. Attractive Cost/SF: $451/SF. Lot Size: 21,830 SF (0.5 Acres). Current CAP Rate: 4.69% / Current GRM: 12.7. Pro-Forma CAP Rate: 5.04% / Pro-Forma GRM: 12.1. Investors can Further Increase CAP Rate by Placing New Insurance (Current Insurance is $25,979/Year Due to Fire Claims by Current Insured. Market Insurance Estimate: $6,600/Year for New Insured - Current CAP Rate: 5.06% w/ New Insurance @ $6,600/Year).