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

32

Building size

21,122 sqft

Lot size

17,906 sqft

Year built

1955

Stories

0

Heating

None

Cooling

None

Status

Active

Days on market

8

MLS #

247666849

About this property

First time on the market in over 43 years, this 32-unit apartment community is ideally located in prime Hollywood between Hollywood Boulevard and Sunset Boulevard, just blocks from Los Feliz. Built in 1955, the property spans approximately 21,122 square feet on a 17,906 square foot lot and features a secured entrance, 32 individual parking spaces, a spacious central courtyard, and an on-site pool that enhance tenant appeal. Offered at a 6.3% cap rate and 9.7 GRM with significant rental upside, the asset presents a compelling value-add opportunity. Recent improvements include new windows, a newer roof, and an updated electrical system. Additional upside may be realized through the potential conversion of the existing non-conforming studio into an ADU (buyer to independently verify feasibility and permitting). The property also includes an on-site community laundry facility with three washers and three dryers and benefits from a highly desirable Hollywood location surrounded by popular dining, nightlife, new retail developments, major employment centers, and convenient transportation options.

Location

5110 Harold Way

Los Angeles, Los Angeles, CA, 90027