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Diego Magdaleno

1Vision Real Estate

diego@1visionproperties.com +1(714) 676-7271

$6,250,000

Est. payment - /mo

20 Beds

22 Baths

15,320 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 15,320 sqft

Price per Sqft $407

MLS Listing ID 25553221

Bedrooms 20

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1957

Lot Size 0.394 Acres

Property Description

JNM Realty Inc is proud to present, on an exclusive basis, a 22-unit low-rise apartment complex in the heart of East Hollywood with tremendous in-place cash flow. The asset has been professionally managed and maintained over the past 11 years and presents the opportunity for a new investor to improve the facility and its financial output through extended renovations. Community amenities include a pool, laundry room, and onsite parking. The property has been extremely well-maintained with improvements to the exterior facade and sixteen (16) of twenty-two (22) units fully renovated featuring new flooring, electrical, plumbing, and mini splits. There are (17) onsite parking spaces, non-tandem. A qualified investor could assume the favorable 3.20% interest-only rate through March 2026, amortizing through March 2027. This results in an 8.51% cash on cash return immediately upon acquisition. Through renovations and improvements, the property has the potential to reach a 7.02% stabilized cap rate and a 13.87% cash on cash return. Additional potential upside through ADUs through utilizing the onsite parking. Buyer to verify.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LAR4

Interior

Fireplace No

Appliance Dryer, Washer

Laundry Common Area

Exterior

Parking Features Covered

Pool Community

Community Features Gated, Pool

View Y/N Yes

View Courtyard

Total Parking Spaces 17

Private Pool No

Building

Faces South

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 5544021007

Security Features Carbon Monoxide Detector(s),Security Gate,Gated Community,Key Card Entry

Acceptable Financing Cash

Listing Terms Cash

Financing Assumed

Special Listing Condition Standard

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Listed by Demis Dokhanian • JNM Realty, INC.

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5427 Carlton WAY Los Angeles, CA 90027