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Multifamily

1423 N Alexandria Ave

1423 N Alexandria Ave, Los Angeles, CA 90027

Listing Price: $1,299,000

Cap Rate
1.49%
Number of Units
3
GRM
28.94
Occupancy
100.0%
Price/Unit
$433,000

Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 1423 North Alexandria Avenue, a multi-family investment property ideally located in the heart of East Hollywood, California, one of the most desired rental submarkets in all of Los Angeles. The property sits just east of Normandie Avenue, between Sunset Boulevard and Fountain Avenue. Constructed in 1914, the property sits on 0.15 acres (6,792 square feet) of land and has a total building area of 2,408 square feet. The property features a single family three-bedroom/two-bathroom residence in the front and a duplex in the rear with one-bedroom/one-bathroom floor plans. The charming single-family residence offers gated entrances, tile front porch, paved walkway, fireplace, and multiple entrances to the house. Residents in the duplex units enjoy private backyards. All units are individually metered for gas and electricity, and single-family residence has a separate hot water heater. There are multiple on-site open parking spaces as well as street parking.

With a walk score of 90, the property is conveniently located within the Little Armenia neighborhood bordering Los Feliz, Griffith Park, Melrose Hill, Silver Lake, and the Hollywood Hills, providing residents with countless amenities and opportunities to explore new experiences. The property is within walking distance to multiple highly rated healthcare facilities including Hollywood Presbyterian Medical Center, Children’s Hospital Los Angeles, and Kaiser Permanente Los Angeles Medical Center, which is named America’s best maternity hospitals by Newsweek in 2023. To the north of Kaiser Medical Center is the Hollyhock House Visitor Center in the Barnsdall Art Park, where residents can take an evening stroll through the city’s municipal art gallery with roof terraces and gardens. This expansive art complex also features art classes for both adults and children. There are several department stores located within a mile radius of the property such as Target, Walgreens, 99 Cents Only Stores, Vons, and Marshalls. In addition, the property is a ten-minute walk west from the Vermont/Sunset Metro Station within the Los Angeles Metro B-Line that takes commuters south to Union Station in Downtown Los Angeles and north to North Hollywood Arts District, passing several world-famous tourist sites such as the Hollywood Walk of Fame, TCL Chinese Theatre, Hollywood Pantages Theatre, Universal Studios Hollywood, etc. The property is down the hill from Griffith Observatory, where visitors may look through telescopes, explore exhibits, see live shows in the Samuel Oshin Planetarium, and enjoy the picturesque view of Los Angeles and the Hollywood Sign. As the largest municipal park with urban wilderness area in the United States, Griffith Park sits on over 4,200 acres of natural terrain, landscaped parkland, picnic areas, and has everything to offer for visitors of all ages.

Investment Highlights

  • Over 97% Rental Upside
  • All Single Story Units
  • One- and Three-Bedroom Floor Plans
  • Excellent East Hollywood Location with a 90 Walk Score
  • Gated Property
  • Individually Metered for Gas and Electricity | Individual Hot Water Heaters
  • Average Household Income of $92,049 Within a 3-Mile Radius
  • Population Over 445,800 Within a 3-Mile Radius

Exclusively Listed By

Multifamily

1423 N Alexandria Ave

Listing Price: $1,299,000

Cap Rate
1.49%
Number of Units
3
GRM
28.94
Occupancy
100.0%
Price/Unit
$433,000

Investment Highlights

  • Over 97% Rental Upside
  • All Single Story Units
  • One- and Three-Bedroom Floor Plans
  • Excellent East Hollywood Location with a 90 Walk Score
  • Gated Property
  • Individually Metered for Gas and Electricity | Individual Hot Water Heaters
  • Average Household Income of $92,049 Within a 3-Mile Radius
  • Population Over 445,800 Within a 3-Mile Radius

Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 1423 North Alexandria Avenue, a multi-family investment property ideally located in the heart of East Hollywood, California, one of the most desired rental submarkets in all of Los Angeles. The property sits just east of Normandie Avenue, between Sunset Boulevard and Fountain Avenue. Constructed in 1914, the property sits on 0.15 acres (6,792 square feet) of land and has a total building area of 2,408 square feet. The property features a single family three-bedroom/two-bathroom residence in the front and a duplex in the rear with one-bedroom/one-bathroom floor plans. The charming single-family residence offers gated entrances, tile front porch, paved walkway, fireplace, and multiple entrances to the house. Residents in the duplex units enjoy private backyards. All units are individually metered for gas and electricity, and single-family residence has a separate hot water heater. There are multiple on-site open parking spaces as well as street parking. With a walk score of 90, the property is conveniently located within the Little Armenia neighborhood bordering Los Feliz, Griffith Park, Melrose Hill, Silver Lake, and the Hollywood Hills, providing residents with countless amenities and opportunities to explore new experiences. The property is within walking distance to multiple highly rated healthcare facilities including Hollywood Presbyterian Medical Center, Children’s Hospital Los Angeles, and Kaiser Permanente Los Angeles Medical Center, which is named America’s best maternity hospitals by Newsweek in 2023. To the north of Kaiser Medical Center is the Hollyhock House Visitor Center in the Barnsdall Art Park, where residents can take an evening stroll through the city’s municipal art gallery with roof terraces and gardens. This expansive art complex also features art classes for both adults and children. There are several department stores located within a mile radius of the property such as Target, Walgreens, 99 Cents Only Stores, Vons, and Marshalls. In addition, the property is a ten-minute walk west from the Vermont/Sunset Metro Station within the Los Angeles Metro B-Line that takes commuters south to Union Station in Downtown Los Angeles and north to North Hollywood Arts District, passing several world-famous tourist sites such as the Hollywood Walk of Fame, TCL Chinese Theatre, Hollywood Pantages Theatre, Universal Studios Hollywood, etc. The property is down the hill from Griffith Observatory, where visitors may look through telescopes, explore exhibits, see live shows in the Samuel Oshin Planetarium, and enjoy the picturesque view of Los Angeles and the Hollywood Sign. As the largest municipal park with urban wilderness area in the United States, Griffith Park sits on over 4,200 acres of natural terrain, landscaped parkland, picnic areas, and has everything to offer for visitors of all ages.

Exclusively Listed By

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