Property listed by Coldwell Banker Realty, Danny Mahelka 310-777-6200
$6,500,000
First time on the market in 47 years! Located on a charming tree lined street, steps away from Melose shops and dining. This 19 unit building consists of (15) two-bedroom units, (3) one-bedroom units, and (1) two-bedroom unique owner's penthouse unit with beautiful Hollywood Hills views. FIVE UNITS DELIVERED VACANT!… Read More Upgrade and increase rental incomes. The building is 23,611 gross square feet and sits on a 12,079-square-foot lot. Residents enjoy a 93 walk score with unparalleled access to world-class dining, retail shops, and entertainment along the renowned Melrose Ave. with Beverly Hills just minutes away. This prime location ensures excellent connectivity via La Cienega Blvd and Melrose Ave, offering both lifestyle and convenience. This offering presents a value-add investment opportunity, offering a 5.4% initial CAP rate with the potential to achieve 7.30% once units turnover. Don't miss your chance to own a piece of this thriving community where culture, And prime location create an ideal environment for residents to live, work, and play. (All Electric Building, 31 Parking Spaces, Photos reflect a sampling of all currently vacant units) Read Less
Listing Snapshot
Days Online
1
Last Updated
Property Type
Other
Beds
35
Square Ft.
23,611
Lot Size
0.28 Acres
Year Built
1964
MLS Number
25485757
30 Days Snapshot Of 90048
$2,385k
0%
(avg) sold price
0
-100%
homes sold
151
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
ElectricCooktop, Disposal
Building
Built in 1964, Building area total: 23,611, Levels: One, Living area: 23611, 1 story, 1 building, Architectural style: Contemporary
Community
Gated
Fireplaces
None
Garage
27 spaces
Heating
Radiant
Income
Gross income: $556,304, Net operating income: $339,674
Interior Features
Elevator
Laundry
CommonArea, LaundryRoom
Lot
0.2773 acres, 12,079 square feet, Size: 12,079
Parking
4 carport spaces, 2 open parking spaces, 31 totals parking, Underground, ElectricGate, Garage, CommunityStructure, Tandem
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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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