Incredible opportunity to acquire this fully occupied 12 unit asset. Huge upside potential. Current cap rate of 5.06% may easily reach 8.5% as rents are substantially lower than what the market currently allows. Property is benefitted from number recent upgrades that include a newer roof, windows, plumbing and electrical. Some of the unit upgrades include newer kitchens, bathrooms, and flooring. Located in the heart of East Hollywood this property offer a unique access to world renowned employers such as Netflix, Paramount, and many others. Within minutes tenants can enjoy access to Barnsdall Art Park, Griffith Park, Greek Theater, The Hollywood Bowl, The Pantages Theater, as well as numerous famed restaurants and entertainment establishments.
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Listing Snapshot
Price
$2,990,000
Days On Site
2 Days
Bedrooms
N/A
Inside Area (SqFt)
9,000 sqft
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
0.1493 Acres
Year Built
1928
MLS® Number
GD25171999
Status
Active
Property Tax
N/A
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
Friends & Family
React
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Electricity AvailableElectricity ConnectedNatural Gas AvailableNatural Gas ConnectedSewer AvailableSewer ConnectedWater AvailableWater Connected
Water Source
Public
Zoning
LARD1.5
Interior Features
Basement
Sump Pump
Cooling
Wall/Window Unit(s)
Fireplace Features
None
Heating
Wall Furnace
Laundry Features
Common Area
Window Features
Double Pane Windows
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Exterior Features
Construction Details
Stucco
Exterior
Awning(s)LightingRain Gutters
Fencing
Chain Link
Lot Features
Near Public TransitPavedRectangular Lot
Other Structures
Gazebo
Pool Features
None
Windows/Doors
Double Pane Windows
Community Features
Building Access
Street
Community Features
Street LightsSidewalks
Financing Terms Available
CashConventional1031 Exchange
MLS Area
C20 - Hollywood
This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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