Los Angeles, CA (March 25, 2023) –VF Developments, LLC, a minority and female owned and run company,has reintroduced “920 Everett” a 2000s builtmodern style six-unitmultifamilycommunity propertyto thehighly desirable Victor Heights neighborhood in Los Angeles, California after completing major renovations. Victor Heights is a hillside areanorth of the city of Los Angeles and near Chinatown with sweeping views of downtown LA.
This downtown Los Angelesmodern
two-story garden walkup in Victor Heights has six spacious two-bedroom two bath
units. Victor Heights is a small
hillside neighborhood in downtown LA located east of Echo Park, northeast of
Angeleno Heights, southwest of Elysian Park, and northwest of Chinatown.
Located just down the street from Everett Park and around the corner from The
Elysian, a William Pereira-designed mid-century office building repurposed and
transformed with 91 luxury live/work suites and two-story penthouses. Victor
Heights is bounded by Sunset Boulevard on the south, 110 freeway and Chinatown
on the east, Stadium Way on the north, and Marview Avenue on the west.
VF Developments, LLC, in joint venture with a private investor in
January 2020, acquired the Los Angeles multifamily property located at 920Everett Street, Los Angeles, California with the plan of repositioning and
adding capital improvements.Originally built in
2000, VF Development's improvements included enhancements to exterior redesign
to enhance the simple clean lines of modern architecture. These improvements
include new wood exterior façade, new exterior paint, landscaping with bright
white rocks and succulentsand completely restored and upgraded interior
finishes.
Victoria Vu,
a renowned designer and Managing Partner of VF Developments, LLC and formerly a
leading Halloween costume designer, carefully designed and restored the rental
homes. All units have stunning views of the downtown LA skyline. These
luxury rental homes feature keyless entry door locks to spacious two-bedroom
floor plans with newly upgraded kitchens and bathrooms. The kitchens boastwhite
stone quartz countertops with brand new self-closing cabinetry and high-end
stainless-steel Whirlpool refrigerators with matching gas cooktop with oven and
microwave. Bathrooms have been enhanced with newbathtubs and glass shower
doors.The apartment homes are separately metered with 10 onsite parking spaces.920
Everett Street has a Walk Score of 87 out of 100 - a Very Walkable location so
most errands can be accomplished on foot.
This location is in the Greater Echo Park Elysian neighborhood in Los
Angeles. Nearby parks include Everett Park, Vista Hermosa Park and Alpine Park.
After three long years, Los Angeles County’s COVID emergency will end on
March 31.L.A. County’s COVID-19 emergency tenant regulations have given
low-income tenants protections in eviction court if they can’t pay rent on time
due to economic harms brought on by the pandemic. But those tenants will have
to pay their April rent on time — or face eviction. For rent
owed from March 1, 2020 to September 30, 2021, tenants must pay by August 1,
2023 and for tent owed from October 1, 2021 to January 31, 2023, tenants must
pay by February 1, 2024.
Victoria Vu commented, “As a first generation American we strive
to enhance the communities around us and create modern living spaces for our
residents.We are excited to complete the renovation on 920 Everett Street,
bring the property to market, and provide much needed affordable housing to the
city of Los Angeles.After March 31 we look to get ‘back to normal’ in LA where
residents must begin paying rent again to not continue the significant harm to owners
who must make their mortgage payments with little to no relief from their
lenders.”
Kim Vu added, “America is the land of opportunity. As a refugee who fled Viet Nam during the war
on a raft with my family, its surreal that I am now managing a major apartment renovation
in the Chinatown area of Los Angeles.
The team that completed the renovations on the exterior of the building
and interiors of the units were entirely locally based minority vendors,
employees, and contractors.We are proud to create jobs in the Chinatown area
for minorities, significantly improve the community, and provide more affordable
housing.”
About VF
Developments:VF
Developments, minority
and female owned and run company, has acquired over $69 million in multifamily
properties since 2015 totaling 39 properties and 242 units. VF Developments
strives to provide neighborhoods in gentrifying areas of Los Angeles and Orange
County Class A building design finishes at accessible and affordable market rents
to future tenants. VF prides itself with the opportunity to create modern
living to add value to its communities.With properties
ranging from condominiums to multifamily residences in gentrifying areas
throughout the greater Los Angeles area and Orange County region. VF manages a
multitude of processes including finding unique, off market opportunities,
syndicating properties, overseeing renovations, and using unique architecture
and interior compositions transforming distressed properties into contemporary,
market-ready homes and apartment communities. VF seeksvalue add investment
opportunities and creates significant value for clients and investors. VF
Developments is an entrepreneurial company specializing in acquiring,
renovating, and managing multifamily properties in Los Angeles and Orange
Counties. The company targets
under-performing and mismanaged multifamily properties in gentrifying areas of
these counties. VF also completes significant renovations that modernize and
transform dated properties into cutting edge, high quality, best in class
living environments - ultimately creating substantial value enhancement for its
investors.
Victoria V. Vu
310.901.1189
