27 Units with 53%+/- upside in rents and a 4.82% Cash on Cash return. Also take a look at the cash flow analysis on page 29 of our OM to see a scenario that would achieve a 20.9% Average Annual ROI doubling your investment in 5 years. 13 of the units have already been upgraded with new kitchen cabinets, new bathrooms and new flooring, however they are not at market since the owner did not rehab the exterior of the building and the units will need to have the popcorn ceiling scraped, better showers installed and new windows. The good news is there is plenty of upside left for those units and the upgrade should only cost about $10,000/Unit. The property is within walking distance to the new NoHo West lifestyle center. This brand new development should provide similar property value and apartment rental increases in the surrounding areas much as The Grove in West LA or the Americana at Brand in Glendale provided. NoHoWest will include Amenity Rich Apts, retail/office, entertainment.