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

12

Building size

6,924 sqft

Lot size

6,497 sqft

Year built

1979

Stories

2

Heating

Wall Furnace

Cooling

Wall/Window Unit(s)

Pool

None

View

None

Status

Active

Days on market

80

MLS #

245257953

About this property

The subject property is a twelve-unit multifamily asset located at 5912 Willoughby Avenue in the heart of Hollywood. Built in 1979 and zoned LAR3, the asset is governed by California's AB 1482 statewide rent cap rather than the stricter Los Angeles RSO. The unit mix comprises (1) Studio / 1-Bath and (9) 1-Bedroom / 1-Bath units, plus two brand-new ADUs (a 1 Bed, 1 Bath and a 2 Bed, 2 Bath), across 6,924 building SF on a 6,495 SF lot, of wood-frame and stucco construction with individually metered utilities and on-site parking. The building delivers strong in-place cash flow, and the two brand-new ADUs, now nearing completion, are positioned to capture top-of-market rents upon delivery.Positioned within one of Los Angeles' most dynamic and walkable submarkets, the property sits minutes from the region's largest employment base in media and entertainment, including Paramount Pictures, Netflix, and Sunset Bronson Studios, along with the Melrose Avenue dining and retail corridor and the boutiques of Larchmont Village. Hollywood remains a supply-constrained, high-demand rental market, drawing durable tenant demand from the surrounding studios, creative offices, and entertainment workforce.

Location

5912 Willoughby Avenue

Los Angeles, Los Angeles, CA, 90038