Pinetree Terrace

The Mogharebi Group is pleased to present for the first time ever, the opportunity to acquire Pinetree Terrace—a 58-unit multifamily community located on a 1.53-acre corner lot in Reseda, California. Built in 1978, the property encompasses five two-story apartment buildings with a mix of one-, two-, and three bedroom floorplans ranging from 900 to 1,263 square feet. Six units have been renovated to date, while all units boast features including central heating and air, walk-in closets, washer/dryer hookups, and private balconies/covered patios. Pinetree Terrace is a well-appointed community offering amenities such as a pool/spa, fitness center, laundry room, and subterranean parking. Potential value-add opportunities include renovating the remaining 52 original units and common areas, converting the units from apartments to condos, implementing a RUBS program, and reducing utility costs.