Description
Built in 1927, this 30-unit property totals 20,874 SF located in East Hollywood, between Fountain Ave & Santa Monica Blvd providing easy access to Hollywood and Silverlake. This offering presents an investor the opportunity to acquire a well maintained building with a stable income, a 15% loss-to-lease, that can achieve a pro forma CAP rate of 5.73% through further renovations when the units turn. The building features a unit mix of 22 singles and 8 one-bedrooms. The property is being offered at a13.63 GRM on current income and a low price per unit of $208,333. The property is located within a newly established QualifiedOpportunity Zone for investment, established by the Tax Cuts andJobs Act, Section 1400Z. Five units are currently vacant, allowing an investor to achieve market rents immediately. Ease of management as gas and electric are separately metered. Community laundry...
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7BEDS
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0.18ACRES
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0BATHS
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01/2 BATHS
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20,874SQFT
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$299$/SQFT
School Ratings & Info
Description
Built in 1927, this 30-unit property totals 20,874 SF located in East Hollywood, between Fountain Ave & Santa Monica Blvd providing easy access to Hollywood and Silverlake. This offering presents an investor the opportunity to acquire a well maintained building with a stable income, a 15% loss-to-lease, that can achieve a pro forma CAP rate of 5.73% through further renovations when the units turn. The building features a unit mix of 22 singles and 8 one-bedrooms. The property is being offered at a13.63 GRM on current income and a low price per unit of $208,333. The property is located within a newly established QualifiedOpportunity Zone for investment, established by the Tax Cuts andJobs Act, Section 1400Z. Five units are currently vacant, allowing an investor to achieve market rents immediately. Ease of management as gas and electric are separately metered. Community laundry...
Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-01-18T10:42:19.733. 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.