Commercial For Sale | Multifamily | Apartment building / Low Rise / Garden Style / 1-3 stories high
1770 El Cerrito Place . Central LA , CA 90028
Price cut: $255K. For sale 16 Unit building with 9 vacancies in the Prime Hollywood Los Angeles, CA.For more information contact the listing agent Jake Plewa, Appointments: jacobplewa.com
Posted: 01/23/2023 7:09 am
| On HOMEiZ: 461 days |
Updated: 3 months ago
| Views: 588
Location Map
Property Type
Sold
Property Price
$4675000
$4675000
01/12/2024
0.25
Acres
$460
10166
2.5%
5.1%
$0
$238425
13.80
1.25%
$58438
Property Location & Description
Price cut: $255K. For sale 16 Unit building with 9 vacancies in the Prime Hollywood Los Angeles, CA.For more information contact the listing agent Jake Plewa, Appointments: jacobplewa.com
Rent Control
16 Unit building with 9 vacancies in the Prime Hollywood area priced at only 343k/ door in an Opportunity Zone. Fully Approved RTI plans to add 4 Attached ADUs to improve the numbers to only 274k/ door. All 9 vacant units are under renovation so buyers can complete them to their own taste and finishes and get top market rents. (Most of the rough construction and heavy lifting have been done). This property cash flows at a 5.1% Cap Rate and 13.8 GRM on existing after renovations with an incredible upside to a 7.3% Cap Rate and 10.5 GRM on proforma. Great amenities such as Pool, Laundry Room, and carport garages. Individually metered for Gas & Electricity.
In the Heart of Hollywood, steps away from Runyon Canyon, Magic Castle, Yamashiro, and Hollywood Bowl! The soft story has already been completed and the roof has been recently updated. Potential to create and add a rooftop to maximize rents and amenities.
16
$292188
No.
Description
No. Units
Sq. Ft.
Avg. Mo. Rent
1.
1+1
6
2.
0+1
3
3.
2+1
3
4.
2+2
4
5.
554-8002-027
LARD1.5
60%
Wood & Stucco
2
1958
Good
Prime Hollywood Los Angeles CA location
9 Vacancies
Property Information
Gated entry
Pool
Sewer
Sewer System (Public)
Parking
Off-street
On-street
Assigned Parking
32
Investment Overview
Investor
Energy Efficiency
No
No Data
N/A
N/A
No
No
No
No
Neighborhood lifestyle
Urban Core
More information
Listing Presented by
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