For Sale: Off Market 4 Unit Apartment in Hollywood – 5.56% Cap Rate

For Sale: Off Market 4 unit apartment in Hollywood. Pro forma cap rate of 5.56%. 8 parking spots. $1,500,000.

Seller plans to deliver 3 units vacant. The remaining unit generates market rent of $2,300/month, which the other vacant units should get in rent. Freshly painted 4 unit building with mirror image 2 bedroom, 1 bathroom units located on a nice block of Hollywood just around the block from public transportation, shops, and restaurants on Western Avenue and Melrose Boulevard. Great investor opportunity to own in great neighborhood. Has 4 covered and 4 uncovered parking spots in the back. Recent upgrades include fresh exterior paint and a new roof. Building sold as is, buyer to do their own due diligence.

This property will go on the MLS in 2017 so act fast!  Please inquire for set up sheep and more information.



Local news report Summer doldrums in the residential market for some areas in Los Angeles.

DSCF9763Normally the summer is high season for residential real estate market.  The summer of 2014 is different than expected and might signal a normalizing residential real estate market: http://www.sgvtribune.com/business/20140726/southern-california-housing-market-comeback-stalls http://www.latimes.com/business/realestate/la-fi-home-prices-20140716-story.html