Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1925
Sq.Footage
27,192
5425 Santa Monica Boulevard in Los Angeles, CA 90029. Built in 1925, this prime mixed-use opportunity consists of 30 apartment units and 6,500 SF of commercial space located in the Hollywood Studio District of Los Angeles. This four-story building features 24 singles, 6 one-bedrooms, and 4 retail or office spaces.This offering presents the investor the opportunity to purchase a well-maintained property with stable cash flow of 5.49% on current income. The apartment units offer over 14% rental upside as units turn along with rental increases throughout the leases of the commercial tenants. Additionally, an investor will have the opportunity to increase cash flow with the addition of signage on the east side of the property. The Hollywood market remains one of the most desirable submarkets for living and working. With over 100,000 people living within one-mile and an average home value of over $840,000 within a three-mile radius, the demand for apartment units continues to increase year-over-year. The subject property has a walk score of 92 and offers direct access to the 101 Freeway and a quick walk to to both the Western/Hollywood Blvd Station and the Vermont/Santa Monica Blvd Station.
Features & Amenities
Interior
-
Other Interior Features
Ceiling Fan(s)
Area & Lot
-
Lot Size(acres)
0.1591
-
Property Type
Residential Income
Exterior
-
Garage
No
-
Parking
None
Financial
-
Sales Price
$8,300,000
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Location
County
Los Angeles
Elementary School
Middle School
High School
Listing Courtesy of Neema Ahadian , Marcus & Millichap
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