Property listed by Global Platinum Properties, Inc., Armin Soleimani 424-394-1030
$2,095,000
Attractive 8-unit Hollywood apartment asset currently operating at a 5.5% cap rate with a clear, low-execution path to a 6.6% pro forma cap through operational improvements. Ideally located just north of Melrose Avenue in a high-demand, walkable rental pocket near major employment centers, transit, hospitals, and significant ongoing development. Multiple… Read More tenants pay separate parking fees that are not subject to rent control and are currently below market, offering immediate NOI upside. Former RTI ADU plans (expired but easily re-approved), and a large basement create additional potential for future rental or storage income (buyer to verify). Excellent curb appeal, well-maintained common areas, and a scalable operational profile. A rare opportunity to acquire a small-scale Hollywood asset with real cash flow today and multiple built-in value-add levers. Read Less
Listing Snapshot
Days Online
8
Last Updated
Beds
4
Square Ft.
4,220
Lot Size
0.12 Acres
Year Built
1923
MLS Number
26656095
Additional Details
Building
Built in 1923, Living area: 4220.0, 2 buildings, 2 stories, Levels: Two
Heating
WallFurnace
Income
Gross Income: $165,996, Net Operating Income: $115,629
Lot
0.1152 acres
Parking
Private
Taxes
Parcel Number: 5535027004, Zoning: LAR1
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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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