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    5425 Santa Monica Blvd

    Los Angeles, CA 90029
    • $8,150,000
    • STATUS: Active
    • ON SITE: 48 days
    • ID#: 20-612134
    UPDATED: 24 min ago
    $8,150,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 27,192
      SQFT
    • $300
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1925
    County:
    Area:

    School Ratings & Info

    Description

    Built in 1925, this prime mixed-use investment opportunity consists of 30apartment units and 6,500 SF of commercial space located in the Hollywood Studio District of Los Angeles. This four-story building features 24 singles, 6 one-bedrooms, and 4 retail or office spaces. This offering presents the investor the opportunity to purchase a well-maintained property with stable cash flow of 5.37%on current income. The apartment units offer over 16% rental upside as units turn along with rental increases throughout the leases of the commercial tenants. Additionally, an investor will have the opportunity to increase cash flow with the addition of signage on the east side of the property. The Hollywood market remains one of the most desirable submarkets for living and working. With over 100,000 people living within one-mile and an average home value of over $840,000 within a three-mile radius, the demand for apartment units continues to increase year-over-year.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-18T19:42:47.193. 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.
    www.randyplaice.com/homes/108441079
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    5425 Santa Monica Blvd Los Angeles, CA 90029

    • Price: $8,150,000
    • Status: Active
    • Updated: 24 min ago
    • ID#: 20-612134
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    27,192
    SQFT
    $300
    $/SQFT
    1925
    Built
    Neighborhood:
    Hollywood
    County:
    Los Angeles
    Area:
    Hollywood
    Property Description
    Built in 1925, this prime mixed-use investment opportunity consists of 30apartment units and 6,500 SF of commercial space located in the Hollywood Studio District of Los Angeles. This four-story building features 24 singles, 6 one-bedrooms, and 4 retail or office spaces. This offering presents the investor the opportunity to purchase a well-maintained property with stable cash flow of 5.37%on current income. The apartment units offer over 16% rental upside as units turn along with rental increases throughout the leases of the commercial tenants. Additionally, an investor will have the opportunity to increase cash flow with the addition of signage on the east side of the property. The Hollywood market remains one of the most desirable submarkets for living and working. With over 100,000 people living within one-mile and an average home value of over $840,000 within a three-mile radius, the demand for apartment units continues to increase year-over-year.
    Exterior Features

    Lot Size Area 6931 Other Structures None Parking Garage Other Total Parking 0

    Interior Features

    Baths Total 0.00 Cooling Other Equipment Other Heating Other

    Property Features

    Assessed Total Value 2970911 Gross Income 679344 Gross Operating Income 645377 Like Units1 24 Like Units2 6 Like Units3 4 Net Operating Income 437797.00 Number Of Buildings 1 Number Of Units 30 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 207580 Type Of Units Mixed Use Year Built Source Vendor Enhanced Zoning C4-1Vl

    Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-18T19:42:47.193. 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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    Randy Plaice and Associates | RE/MAX
    27720 Dickason Drive
    Valencia CA, 91355