Thank you
Anie Mayelian
Keller Williams Realty Calabasas
818-657-6500
We are pleased to present the opportunity to acquire a fixer 6 unit apartment building in East Hollywood! 4 of the 6 units will be delivered VACANT and present the ideal situation for a buyer to remodel and renovate the vacant units right away! The building consists of 2 structures--the front building consists of 5 units and the back building consists of 1 unit. ALL the units are in a heavy fixer condition. There are also 4 detached garages in the back lot, which can be converted to one or more ADUs. The spacious +/- 7,895 sq. ft. lot. also presents the opportunity to build additional ADUs on the lot. Upon renovating and repositioning the units, the buyer can realize annual rental income of at least $142,800. Located in an Opportunity Zone, the building could provide potential tax benefits for a buyer! The buyer also has the option to revise the unit interior floor plans to maximize revenue. Given the building's central location in the bustling rental Hollywood rental market and close to Virgil Village, Melrose Hill, and the numerous establishments across Santa Monica Blvd., this is a value-add investment not to be missed!
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Water Source : Public
Sewer : Public Sewer
Year Built: 1928
Building Area Total: 3,199
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1812
Lot Size Source: Assessor
Lot Size Square Feet: 7895
Original List Price: 1,350,000
Listing Contract Date: 2024-03-05
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5537015008
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C20 - Hollywood
Directions: Santa Monica Blvd & Kingsley Dr
Zoning: LARD1.5
Source Property Type: Residential Income
Area: C20 - Hollywood
Property SubType: Apartment
Property Age: 96
Common Walls: 2+ Common Walls
Property Condition: Fixer
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: ground
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
933 N Mariposa Avenue, Los Angeles, CA,90029 | $3,200,000 | -- | -- | 6,426 | 9000 Sqft |
5017 Institute Place, Los Angeles, CA,90029 | $2,900,000 | -- | -- | 8,080 | 5746 Sqft |
811 N Kenmore Avenue, Los Angeles, CA,90029 | $1,149,000 | 3 | 2 | 1,555 | 5148 Sqft |
806 N Oxford Avenue, Los Angeles, CA,90029 | $1,329,000 | 4 | 2 | 1,700 | 5970 Sqft |
867 N Alexandria Avenue, Los Angeles, CA,90029 | $2,200,000 | 6 | 6 | 4,040 | 5130 Sqft |
867 N Alexandria Avenue, Los Angeles, CA,90029 | $2,200,000 | 2 | 1.5 | 4,040 | 5130 Sqft |
1214 N Kingsley Drive, Los Angeles, CA,90029 | $3,500,000 | -- | -- | 6,703 | 7893 Sqft |
5449 S Virginia Avenue, Los Angeles, CA,90029 | $1,850,000 | 10 | -- | 4,877 | 7502 Sqft |
932 N Kingsley Drive, Los Angeles, CA,90029 | $1,250,000 | -- | -- | -- | 9035 Sqft |
803 N Kingsley Drive, Los Angeles, CA,90029 | $2,600,000 | 14 | 16 | 5,390 | 7314 Sqft |
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ByOwner last updated this listing 05/23/2024 @ 16:12
MLS: SR24045277
LISTED BY: Anie Mayelian, Keller Williams Realty Calabasas
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.