Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

60

Building size

42,399 sqft

Lot size

27,129 sqft

Year built

1965

Stories

4

Style

Contemporary

Heating

Electric,Heat Pump

View

Park/Greenbelt

Status

Active

Days on market

720

MLS #

218248544

About this property

Seller finally says Sell! Over a $1M price reduction ! 5.25 cap with significant upside and room to convert the recreation rooms into two ADU's. Trophy Value Add Muti-family Investment opportunity in a Prime Hollywood Hills area of Los Angeles, CA.This Property has been in same family for over 40 years. Rents are 35 % below market ! The Market Cap Rate is over 8% with a 9 x GRM. Property has an inviting lobby - large pool- elevator - room to add multiple ADU's , a gym and a roof top deck. The property was built in 1965 but completely renovated in the 1980s. Units have central A/C . Walk score is 94. Premiere hiking trails nearby as well as Hollywood and Sunset Blvd eateries and shops.This is an amazing rental area -one of the most trendy, desirable and walkable neighborhoods in LA.Metro line is only a 15 min walk away and centrally located with Easy access to 101 freeway , Downtown and the San Fernando Valley. There is a tremendous amount of development and job availability in the immediate area.Netflix, Sunset Gower Studios, Nickelodeon, Capital Records within a 10 min drive. This property is surrounded by condos and an astute buyer can take this property to the next level with some cosmetic upgrades.

Location

1617 N Fuller Avenue

Los Angeles, Los Angeles, CA, 90046