PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS. We are pleased to offer for sale a 12-unit apartment community located at 535 North Heliotrope Drive. The subject property is located north of Beverly Boulevard and east of Normandie Avenue. The property is in… Read More the thriving neighborhood of East Hollywood just south of the 101 Freeway. Located on Heliotrope Drive, just minutes from Virgil Village and Silver Lake, 535 North Heliotrope provides tenants with easy access to some of the most popular bars, eateries and shopping in Los Angeles. Situated on a 7,999 square foot parcel, the property is comprised entirely of one-bedroom units. There is 45% remaining rental upside through interior renovations. The property is in an Opportunity Zone which is drawing significant new capital in the immediate neighborhood, putting upward pressure on rental rates and property values. 535 North Heliotrope Drive offers investors an opportunity to acquire an asset in a sought-after in-fill submarket of Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 535 North Heliotrope an excellent acquisition opportunity. Read Less
Property listed by Marcus & Millichap, Sean Rosenzweig 310-909-5500
Listing Snapshot
Days Online
193
Last Updated
Property Type
Other
Beds
12
Square Ft.
8,226
Lot Size
0.18 Acres
Year Built
1962
MLS Number
25529771
30 Days Snapshot Of 90004
$2.20M
-18%
(avg) sold price
18
+50%
homes sold
84
+5%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1962, Building area total: 8,226, Levels: Two, Living area: 8226, 2 stories, 1 building
Income
Gross income: $208,743, Net operating income: $107,970
Lot
0.1836 acres, 7,999 square feet, Size: 7,999
Parking
12 totals parking, Covered
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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