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

16

Building size

16,035 sqft

Lot size

7,508 sqft

Year built

2023

Stories

4

Heating

Central

Cooling

Central Air

Status

Active

Days on market

0

MLS #

249133176

About this property

641 N Hobart Blvd is a 16-unit apartment building completed in 2023 in Melrose Hill, one block south of Melrose Ave. The four-story building has an elevator, a gated 19-space subterranean garage and a rooftop deck with Hollywood Hills views. Units feature in-unit washer/dryers, central A/C, quartz counters, stainless appliances and vinyl plank flooring. The unit mix is 1 bachelor, 1 studio, 10 one-bedrooms (including 1 affordable unit) and 4 two-bed / 2-bath townhomes. Residents reimburse utilities through RUBS and submetering. The buildings in-place rents are below current new-construction comps, which leaves room to grow income as leases turn. Gross building area is 16,035 SF on a 7,505 SF LAR3 lot.

Location

641 N Hobart Boulevard

Los Angeles, Los Angeles, CA, 90004