In re Summer View Sherman Oaks Apartments, LLC (Bankr. C.D. Cal.) Case no. 11-19800
Summer View Sherman Oaks Apartments, LLC recently filed for Chapter 11 bankruptcy and, although no sale has been announced, the Debtor’s assets may be available for acquisition under the right circumstances. The Debtor’s real property is a 169-unit apartment building located at 15353 Wedding Street in Sherman Oaks, California, valued by the Debtor at $21 million with a secured claim of $16,105,313. The rent roll indicates that there are 85 tenant lease agreements. The Debtor’s personal property includes accounts receivable booked at $34,591; computer equipment valued by the Debtor at $1,800; and apartment building machinery and equipment valued by the Debtor at $5,000. The Debtor indicates income for 2009 at $2,188,523; for 2010 at $2,010,372; and for January thru August 2011 at $1,162,319.