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$ 1,995,000
Est. payment | /mo
4,220 SqFt
$ 1,995,000
Est. payment | /mo
4,220 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,220 sqft
Price per Sqft $472
MLS Listing ID CL26833687
HOA Y/N No
Year Built 1923
Lot Size 5,017 Sqft
Acres 0.1152
Property Sub-Type Other
Property Description
Attractive 8-unit Hollywood apartment asset currently operating at a 6.0% cap rate with a clear, low-execution path to a 7.0% 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 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 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.
Location
State CA
County Los Angeles
Zoning LAR1
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 5535027004
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Listed by Armin Soleimani • Global Platinum Properties, Inc.
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