We are pleased to present 1820 Grace Ave, a 10 unit apartment building located in the heart of Hollywood, a prime neighborhood of Los Angeles, CA. Built in 1953, the property consists of (8) one-bedroom + one-bathroom units and (2) two-bedroom + one bathroom unit. The building is 6,916 gross… Read More square feet and sits on a 7,702 square foot lot.1820 Grace Ave is located on a charming, tree-lined street in Hollywood. There is no shortage of activities to explore in the area. From popular hiking trails of Runyon Canyon and Griffith Park to seeing the Hollywood Walk of Fame. Hollywood's central location provides convenient access to major freeways, public transportation, and is only a 5-minute walk to the Hollywood Blvd Metro station further extending the area's connectivity to the rest of Los Angeles.1820 Grace Ave represents a unique value-add opportunity for investors due to the property's location and rental upside. The property offers a initial CAP rate of 5.62% with the ability to improve to a 8.29%CAP rate once units turnover. Read Less
Property listed by Marcus & Millichap, Michael Sterman 818-212-2700
Listing Snapshot
Days Online
44
Last Updated
Property Type
Other
Square Ft.
6,916
Lot Size
0.18 Acres
Year Built
1953
MLS Number
25506173
30 Days Snapshot Of 90028
$833k
-17%
(avg) sold price
4
+33%
homes sold
89
+50%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1953, Building area total: 6,916, Levels: Two, Living area: 6916, 2 stories, 1 building
Income
Gross income: $185,556, Net operating income: $112,379
Lot
0.1768 acres, 7,702 square feet, Size: 7,702
Parking
6 totals parking, Covered
Property
Zoning: LAR4
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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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