12455 San Fernando Road, Sylmar

BY APPOINTMENT ONLY! BUYERS INTERESTED IN OVERBID, TOUR DATE IS MONDAY, JAN 6, 2020.

PUBLIC NOTICE OF SALE

ON THURSDAY, JANUARY 9, 2020 AT 8:30 AM AT THE VAN NUYS SUPERIOR COURTHOUSE EAST, DEPARTMENT U, 6230 SYLMAR AVENUE, VAN NUYS CA, 91401, THE PROPERTY LOCATED AT 12455 SAN FERNANDO ROAD, SYLMAR, CA 91342 WITH THE FOLLOWING LEGAL DESCRIPTION:

The land referred to in this report is situated City of Los Angeles, Area of Sylmar, the County of Los Angeles, State of California, and is described as follows:

Parcel 1:
That portion of Section 33 Township 3 North, Range 15 West, S.B.B. & M., Rancho Ex-Mission De San Fernando, in the City of Los Angeles, County of Los Angeles, State of California, described as follows:

Beginning at the intersection of the Southwesterly line of San Fernando Road 50 feet wide with the Southeasterly line of Oro Grande Avenue 30 feet wide as said Road and Avenue are shown on map of Tract 5813, as per Map recorded in Book 67 Page 47 of Maps; thence along said Southeasterly line South 43º 09' 45" West 160 feet to the True Point of Beginning; thence along said Southeasterly line South 43º 09' 45" West 40 feet; thence parallel with said Southwesterly line South 46º 56' East 100 feet; thence parallel with said Southeasterly line North 43º 09' 45" East 40 feet; thence North 46º 56' West 100 feet to the True Point of Beginning.

Parcel 2:
That portion of Section 33, Township 3 North, Range 15 West, S.B.B.&M., Rancho Ex-Mission De San Fernando, in the City of Los Angeles, County of Los Angeles, State of California, described as follows:

Beginning at a point in the Southwesterly line of Steve Fernando Road 50 feet wide distant thereon South 46º 56' East 100 feet from the intersection of the Southeasterly line of Oro Grande Avenue 30 feet wide as said Road and Avenue are shown on Map of Tract 5813, in Book 67 Page 47 of Maps; thence along said Southwesterly line South 46º 56' East 150 feet thence parallel with said Oro Grande Avenue South 43º 09' 15" West 235 feet thence parallel with said Southwesterly line of Steve Fernando Road North 46º 56' West 250 feet to the Southeasterly line of said Oro Grande Avenue; thence along said Southeasterly line North 43º 09' 15" East 35 feet; thence parallel with said Southwesterly line South 46º 56' East 100 feet; thence North 43º 09' 15" East 200 feet to the True Point of Beginning. Assessor's Parcel Numbers(s): 2611-001-052

WILL BE SOLD BY WAY OF A COURT CONFIRMATION AND OVERBID HEARING. THE OPENING BID WILL BE $17,880,000 AND BIDDERS: (1) MUST BE PREQUALIFIED AND PRESENT AT THE HEARING; (2) PROVIDE A SIGNED VERSION OF THE RULES FOR CONFIRMATION AND OVERBID HEARING; (3) PROVIDE PROOF OF FUNDS AS TO THE BIDDER’S HIGHEST BID AMOUNT; (4) PROVIDE A CASHIER’S CHECK IN THE AMOUNT OF $1,000,000 AS A DEPOSIT TO BID. All BIDDERS THAT ARE NOT THE WINNING BIDDER WILL RECEIVE THEIR $1,000,000 DEPOSIT BACK AT THE END OF THE HEARING.

CALL RICK MARQUIS AT (310) 552-9064 FOR DETAILS.

Built in 2014 with attention to quality and detail, this fully leased 61 unit Sylmar apartment building is the only one of its kind in the area. Beautifully constructed and tastefully designed with three stories of luxury units over an on-grade parking garage with 101 parking spaces, the building is set around an expansive courtyard. Amenities include a large and fully equipped gym with yoga room and bathroom as well as a rec room with a fully equipped kitchen, billiards area, and a large seating/social area set around a large-screen TV. Laundy in each unit and the building has controlled access entry. Units are separately metered for gas and electric and have full heating and air. Conveniently located and in walking distance to restaurants, shopping and public transportation the property also offers easy access to the I-210, I-5, I-405 freeways and the State Highway 118. The convenient access to these major freeways enables residents to quickly and easily access prominent employment hubs including Valencia/ Santa Clarita/Newhall, northern and western areas of the San Fernando Valley, Simi Valley, and the Tri-Cities.

PROPERTY BEING SOLD BY COURT-APPOINTED RECEIVER AND MAY BE SUBJECT TO COURT CONFIRMATION AND OVERBID HEARING

Offered at $15,500,000
Call for Offers is Thursday, November 14th, 10AM