Property listed by Nicholas Property Group, Sonny Shackelford 310-770-1847
$1,174,995
Rare opportunity to secure a well-maintained Hollywood triplex with immediate upside and strong cash flow potential. Fully stabilized, the property can generate approximately $90,000 per year in gross rental income, yielding an estimated net operating income of $54,000 annually and a projected 4.5% cap rate at the $1.2 million purchase… Read More price. Current income totals $4,400 per month from two occupied units: a spacious 3-bedroom, 2-bath unit renting at $2,900/month and a 1-bedroom, 1-bath unit renting at $1,500/month. The third unit, delivered vacant, is a bright 1-bedroom, 1-bath with a private balcony, ready to lease at market rate of approximately $2,500/month, immediately boosting total monthly income to $7,500. Operating expenses are just $3,000 per month ($36,000 annually), supporting strong cash flow and a clear path to increase income by over 50% as existing below-market rents are adjusted over time. Zoned RD1.5XL, the property allows 5 units by right or up to 8 units with TOC Tier 2 bonuses, offering exceptional redevelopment potential in a rapidly transforming neighborhood. A similar property next door was recently redeveloped into 8+ units, highlighting the area's upside for developers. The building has been well maintained and features on-site parking and a private yard. The back unit, built in 2011, is not subject to LA's rent control ordinance (buyer to verify), providing additional long-term flexibility. Located near Paramount Studios and Hollywood's major employers, this property is an ideal opportunity for investors seeking immediate income with substantial growth potential. Buyers to independently verify all information. Read Less
Listing Snapshot
Days Online
194
Last Updated
Property Type
Other
Beds
7
Square Ft.
2,654
Lot Size
0.15 Acres
Year Built
1913
MLS Number
25492999
30 Days Snapshot Of 90038
$713k
-15%
(avg) sold price
4
+100%
homes sold
302
+228%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1913, Building area total: 2,654, Levels: MultiSplit, Living area: 2654, 2 buildings
Cooling
None
Heating
None
Income
Gross income: $78,600, Net operating income: $63,127
Lot
0.155 acres, 6,752 square feet, Size: 6,752
Parking
4 totals parking, SideBySide, Uncovered
Property
Zoning: LARD1.5
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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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