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

10

Building size

5,666 sqft

Lot size

9,053 sqft

Year built

1959

Stories

0

Style

Mid Century Modern

Heating

Wall Furnace

Cooling

Wall/Window Unit(s)

Pool

None

View

City Lights

Status

Active

Days on market

8

MLS #

246737222

About this property

We are pleased to present 917 N. Ardmore Avenue, a 10-unit multifamily investment opportunity located in the heart of Hollywood, ideally situated between Melrose Avenue and Santa Monica Boulevard. Built in 1959, the property offers an excellent unit mix comprising one (1) studio and nine (9) one-bedroom, one-bathroom units, totaling approximately 5,666 square feet of rentable space. The building is situated on a generous 9,050 square foot lot zoned LAR3, providing significant development potential. The units are distributed across two separate structures with ample on-site open parking. With nearly 25% rental upside, this offering presents a compelling value-add opportunity. A new owner can capitalize on below-market rents as units turn, while also exploring the potential to add additional units on the spacious R3-zoned lot. Priced at 11 times gross rent, attractive new acquisition financing is available

Location

917 N Ardmore Avenue

Los Angeles, Los Angeles, CA, 90029