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

13

Building size

10,780 sqft

Lot size

9,024 sqft

Year built

1963

Stories

2

Style

Traditional

Heating

Wall Furnace

Status

Active

Days on market

8

MLS #

246579887

About this property

Huge ~700k Price Reduction! Renovated 13-unit building cash flowing at an amazing 6.5% Cap Rate from day 1 with 39% upside to a 9.8% Cap on Proforma! Attractively priced at only $296/SF and $245k/door with a large unit mix consisting of 3 (2bed/2bath) units, 9 spacious (1bed/1bath) units, and 1 (studio/1bath) unit. Majority of the units (7) have been renovated including 2 brand-new attached ADUs. Amenities include gated entry, communal laundry room, large balconies, large patios, as well as 9 parking spaces (2 of which have not been officially assigned and may be rented for additional income). Many units boast updated cabinets, flooring, lighting, bathrooms, and significant exterior improvements including soft-story retrofit. Prime East Hollywood location just minutes away from the Vermont/Santa Monica Metro station, Silverlake, Hollywood, West Hollywood as well as many hip neighborhood attractions, restaurants, bars, and shops such as Hollywood Walk of Fame, Griffith Observatory, Cara Hotel, Saffy's Restaurant, Courage Bagels, and many more.

Location

1045 N Ardmore Avenue

Los Angeles, Los Angeles, CA, 90029