Mill Creek Residential Plans to Increase Community’s Value with Upgrades
It's location, location and renovation.
By Keith Loria, Contributing Editor
Sherman Oaks, Calif.—Mill Creek Residential has acquired AMLI on the Boulevard, 105 apartment homes located in the Sherman Oaks neighborhood of metropolitan Los Angeles, Calif., and rebranded the property as Alister Sherman Oaks.
“The Los Angeles metropolitan area continues to be one of the strongest apartment markets in the country, and the Sherman Oaks neighborhood is well positioned to benefit from its continued growth,” Wesley Dickerson, Mill Creek’s senior managing director, said. “Alister Sherman Oaks presents an excellent opportunity to implement upgrades that will significantly increase the community’s value to the residents who live there, the neighborhood and our investment partners.”
Mill Creek Residential is planning renovations to the Alister Sherman Oaks apartments, leasing office, pool area and fitness center, plus will upgrade the signage and landscaping. Each apartment home will receive new kitchen and bath cabinetry, quartz countertops, stainless steel appliances and modern lighting and plumbing packages.
Apartment homes will also include ample closet and storage space, plush wall-to-wall carpeting in the bedrooms and high ceilings, some vaulted. Some apartments are equipped with private balconies, gas-burning fireplaces and breakfast bars. The soon-to-be renovated rooftop deck includes barbecue grills.
Located at 4440 Sepulveda Boulevard, the four-story community is in close proximity to a host of high-rated, diverse cuisine options, such as Cucina Bene, Simon’s Café, Little Izaka-ya and Puchica. Whole Foods is located across the street and other nearby attractions include the Sherman Oaks Galleria and Ventura Boulevard’s eclectic mix of restaurants and bars.
“This is the kind of location Los Angeles-area renters expect out of a Class A apartment community, where they can live, work and be entertained all within a few miles,” Dickerson said. “By implementing an upgrade package that brings the amenities and features of the community up to par with its incredible location, we believe there is tremendous upside potential for Alister Sherman Oaks.”
Mill Creek Residential now owns and operates 340 apartment homes, with an additional 595 in development, in the Los Angeles metro area.