Property listed by Marcus & Millichap, Filip Niculete 818-212-2700
$3,300,000
We are pleased to present 635 N Harvard Blvd, a newer-construction, seven-unit multifamily investment located in East Hollywood. The property consists of three three-story duplexes completed in 2020 and a studio accessory dwelling unit completed in 2022. The unit mix features four spacious three-bedroom townhome-style residences, two two-bedroom units, and… Read More one studio, totaling 6,398 square feet of living area on a 7,507-square-foot R3-1 lot. The offering combines strong in-place income with approximately 9% rental upside, providing investors with immediate cash flow and additional growth potential without a significant renovation program. Current scheduled rent of $250,176 increases to approximately $271,800 at projected market rents. Recent three-bedroom leasing activity further supports the property's income profile, with Unit 635 leased at $3,806 per month and Unit 637 at $3,707 per month. Designed with modern rental demand in mind, four of the seven residences are large three-bedroom floorplans ranging from approximately 1,104 to 1,209 square feet. Every residence features in-unit laundry, while each of the six duplex residences is separately metered for water, gas, and electricity, allowing tenants to pay their utilities directly and helping reduce operating expenses for ownership. Carport parking is provided beneath the center and rear buildings. The property is well positioned for 1031 exchange buyers and private investors seeking newer construction in a supply-constrained infill market. Newer multifamily product is particularly limited in ZIP Code 90004, where approximately 60% of the housing stock was built before 1970. Located near Melrose Avenue and Western Avenue, 635 N Harvard Blvd sits between Hollywood and Koreatown with convenient access to major employment, entertainment, education, and healthcare destinations. The property carries a Walk Score of 91, a "Walker's Paradise," and is approximately 0.8 miles from Los Angeles City College, 0.9 miles from Paramount Pictures, and 1.3 miles from Kaiser Permanente Los Angeles Medical Center, Hollywood Presbyterian Medical Center, and Children's Hospital Los Angeles. Read Less
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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