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Multifamily

3143 Hollycrest Dr

3143 Hollycrest Dr, Los Angeles, CA 90068

Listing Price: $1,600,000

Cap Rate
4.60%
Number of Units
4
GRM
14.94
Price/Unit
$400,000
Price/Gross SF
$533.69
Gross SF
2,998

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 3143 Hollycrest Drive, a charming four-unit apartment building in the Hollywood Hills. Built in 1954, the two-story property sits on a 6,439 square foot lot with 2,998 square feet of rentable space and is comprised of four one-bed/one-bath units with private patios and on-site laundry. The property provides tenants with on-site parking and gated entry. The property will be delivered with one vacant unrenovated unit that can be remodeled and rented out at market rate or occupied by an owner/user. Only one unit has been lightly renovated at this property, which boasts a tremendous opportunity for a new investor to add significant value to this property over the course of ownership. Units 1 and 2 are larger floorplans that are identical with larger living rooms and a dining area. Unit 2 and 3 are slightly smaller floorplans and have a dining area as well. Units 3 and 4 both come with high ceilings that allow for lots of light and a very spacious feel for tenants. Only one long-term tenant occupies this property, and their rent is over $2200 per month.
Located North of Cahuenga Blvd and East of Barham Blvd, the subject property is a short drive from Universal Studios, The Hollywood Studio, Ford Amphitheater, Griffith Park, Walt Disney Studio and Warner Bros. Studios. Through the Cahuenga Pass, tenants are a short drive away from Toluca Lake, Studio City, Burbank, West Hollywood, Hollywood and Los Feliz. The property’s centralized location makes it attractive to tenants who work for employers located along and near the 101 Freeway corridor.

Investment Highlights

  • Prime Hollywood Hills Location
  • (4) One-Bed/One-Bath Units with Patios
  • On-Site Laundry
  • Potential Owner User Opportunity
  • One Unit to be Delivered Vacant

Exclusively Listed By

Financing By

Multifamily

3143 Hollycrest Dr

Listing Price: $1,600,000

Cap Rate
4.60%
Number of Units
4
GRM
14.94
Price/Unit
$400,000
Price/Gross SF
$533.69
Gross SF
2,998

Investment Highlights

  • Prime Hollywood Hills Location
  • (4) One-Bed/One-Bath Units with Patios
  • On-Site Laundry
  • Potential Owner User Opportunity
  • One Unit to be Delivered Vacant

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 3143 Hollycrest Drive, a charming four-unit apartment building in the Hollywood Hills. Built in 1954, the two-story property sits on a 6,439 square foot lot with 2,998 square feet of rentable space and is comprised of four one-bed/one-bath units with private patios and on-site laundry. The property provides tenants with on-site parking and gated entry. The property will be delivered with one vacant unrenovated unit that can be remodeled and rented out at market rate or occupied by an owner/user. Only one unit has been lightly renovated at this property, which boasts a tremendous opportunity for a new investor to add significant value to this property over the course of ownership. Units 1 and 2 are larger floorplans that are identical with larger living rooms and a dining area. Unit 2 and 3 are slightly smaller floorplans and have a dining area as well. Units 3 and 4 both come with high ceilings that allow for lots of light and a very spacious feel for tenants. Only one long-term tenant occupies this property, and their rent is over $2200 per month. Located North of Cahuenga Blvd and East of Barham Blvd, the subject property is a short drive from Universal Studios, The Hollywood Studio, Ford Amphitheater, Griffith Park, Walt Disney Studio and Warner Bros. Studios. Through the Cahuenga Pass, tenants are a short drive away from Toluca Lake, Studio City, Burbank, West Hollywood, Hollywood and Los Feliz. The property’s centralized location makes it attractive to tenants who work for employers located along and near the 101 Freeway corridor.

Exclusively Listed By

Financing By

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