Renovated 13-unit building cash flowing at an amazing 5.25% Cap Rate from day 1 with 41% upside to an 8.2% Cap on Proforma! Attractively priced at only $348/SF and $288k/door with a large unit mix consisting of 3 (2bed/2bath) units, 9 spacious (1bed/1bath) units, and 1 (studio/1bath) unit. Majority of… Read More the units (7) have been renovated including 2 brand-new attached ADUs. Amenities include gated entry, communal laundry room, large balconies, large patios, as well as 9 parking spaces (4 of which have not been officially assigned and maybe rented for additional income). Many units boast updated cabinets, flooring, lighting, bathrooms, and significant exterior improvements including soft-story retrofit. Prime East Hollywood location just minutes away from the Vermont/Santa Monica Metro station, Silverlake, Hollywood, West Hollywood as well as many hip neighborhood attractions, restaurants, bars, and shops such as Hollywood Walk of Fame, Griffith Observatory, Cara Hotel, Saffy's Restaurant, Courage Bagels, and many more. Read Less
Property listed by Marcus & Millichap, Jason Tuvia 818-212-2700
Listing Snapshot
Days Online
3
Last Updated
Property Type
Other
Beds
14
Square Ft.
10,780
Lot Size
0.21 Acres
Year Built
1963
MLS Number
25583171
30 Days Snapshot Of 90029
$1.08M
+20%
(avg) sold price
6
+50%
homes sold
129
+19%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1963, Building area total: 10,780, Levels: Two, Living area: 10780, 2 stories, 1 building
Income
Gross income: $290,424, Net operating income: $196,721
Lot
0.2072 acres, 9,024 square feet, Size: 9,024
Parking
Carport, Uncovered
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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