$1,350,000 Price Analysis   ♡   Los Angeles, CA 90029 5 bed 7 bath 3,199 SqFt ($422/SqFt) 7,895SqFt lot. Built 1928 Listed 2024-03-08, Taxes $4,234 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
We are pleased to present the opportunity to acquire a fixer 6 unit apartment building in East Hollywood!
4 of the 6 units will be delivered VACANT and present the ideal situation for a buyer to remodel and renovate the vacant units right away. The building consists of 2 structures--the front building consists of 5 units and the back building consists of 1 unit. ALL the units are in a heavy fixer condition. There are also 4 detached garages in the back lot, which can be converted to one or more ADUs. The open +/- 7, 895 sq. ft. lot. also presents the opportunity to build additional ADUs on the lot. Upon renovating and repositioning the units, the buyer can realize annual rental income of at least $175, 200. Located in an Opportunity Zone, the building could provide potential tax benefits for a buyer!
The buyer also has the option to revise the unit interior floor plans to maximize revenue. Given the building's central lcation in the bustling rental Hollywood rental market and close to Virgil Village, Melrose Hill and the numerous establishments across Santa Monica Blvd., this is a value-add investment not to be missed!
Presented by Anie Mayelian at
Keller Williams Realty Calabasas.
Property MLS #SR24045277 from CRMLS
Lot Size Acres: 0.1812443
Lot Size Source: Assessor
Lot Size Square Feet: 7895
Road Surface Type: Paved
Parking Total: 4
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 1
Bedrooms in Unit-4: 1
Bedrooms in Unit-5: 1
Total Bathrooms in Unit-1: 2
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Total Bathrooms in Unit-6: 1
Maintenance Expense: 2880.00
Vacancy Allowance: 3384
Rent Control: Yes
County: Los Angeles
Source Property Type: Residential Income
Insurance Expense: 4000.00
Area: C20 - Hollywood
Source Neighborhood: C20 - Hollywood
New Taxes Expense: 16875.00
Number of Separate Electric Meters: 6
Number of Separate Gas Meters: 1
Number of Separate Water Meters: 1
Parcel Number: 5537015008
Zoning: LARD1.5
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1,582 + $286,683 $288,265 | $4,234 |
| 2021 | $1,551 + $281,062 $282,613 | $4,170 |
| 2020 | $1,536 + $278,181 $279,717 | $4,200 |
| 2019 | $1,506 + $272,727 $274,233 | $4,065 |
| 2018 | $1,477 + $267,380 $268,857 | $3,886 |
| 2017 | $1,449 + $262,138 $263,587 | $3,642 |
| 2016 | $1,421 + $256,999 $258,420 | $3,530 |
| 2015 | $1,400 + $253,139 $254,539 | $3,483 |
| 2014 | $1,373 + $248,181 $249,554 | $3,527 |
| 2013 | $1,367 + $247,060 $248,427 | $3,517 |
| 2012 | $1,341 + $242,216 $243,557 | $3,559 |
| 2010 | $1,315 + $237,467 $238,782 | $3,407 |
| 2009 | $1,310 + $236,253 $237,563 | $3,291 |
| 2009 | $1,306 + $235,693 $236,999 | $3,291 |
| 2008 | $1,285 + $231,621 $232,906 | $3,166 |
| 2007 | $1,260 + $227,080 $228,340 | $3,054 |
$1,350,000
CRMLS
Listed 2024-03-08
$1,350,000
CRMLS
Listing removed 2021-04-14
$0
CRMLS
Listed 2021-02-25
$1,595,000
CRMLS
Sold 1994-06-20
$180,000
Public Record
Sold 1974-05-22
$35,500
Public Record
Year Built: 1928
Building Features: 2
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: ground
Property Age: 96
Property Attached: Yes
Property Condition: Fixer
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Apartment
Year Built Source: Assessor
Sewer: Sewer: Public Sewer, Water Sewer Expense: 0.00
Water Source: Public
Map directions Map directions Map directions Map directions
 |  |  |  |  |
The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.