Well-maintained 17-unit building cash flowing at an amazing Current Cap Rate of 5.6% and 12.5 GRM from day 1 with an incredible 32% upside to 8% Cap Rate and 9.5 GRM on proforma in prime Hancock Park/Larchmont Village area. Excellent and large unit mix of 6 (2bed/2bath) units, 2 (2bed/1bath)… Read More units, and 9 (1bed/1bath) units including 3 brand-new (1bed/1bath) ADUs. Additionally, 4 of the units have been renovated and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, stainless steel appliances, and major exterior capital improvements. Amenities include a renovated pool and courtyard with seating areas, on-site laundry facilities, secure entry, and covered parking spaces for convenience. Individually metered for gas & electricity with soft-story retrofit already completed. Large 14,364 SF R3 TOC Tier 3 corner lot for future development potential. Located in the heart of Hancock Park just minutes away from Larchmont Village, Koreatown, Hollywood, and Melrose as well as many hip neighborhood attractions, restaurants, bars, and shops such as Wilshire Country Club, Paramount Studios, H Mart, Levain Bakery, Salt & Straw, and Great White, popping up all around the area. Read Less
Property listed by Global Platinum Properties, Inc., Armin Soleimani 424-394-1030
Listing Snapshot
Days Online
1
Last Updated
Property Type
Other
Beds
25
Square Ft.
12,628
Lot Size
0.33 Acres
Year Built
1961
MLS Number
25482069
30 Days Snapshot Of 90004
$1,964k
0%
(avg) sold price
0
-100%
homes sold
75
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1961, Building area total: 12,628, Levels: Two, Living area: 12628, 2 stories, 1 building
Heating
WallFurnace
Income
Gross income: $418,861, Net operating income: $296,248
Interior Features
CeilingFans
Lot
0.3287 acres, 14,319 square feet, Size: 14,319
Parking
4 totals parking, AttachedCarport
Property
Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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