Multifamily
1266 N Ardmore Ave
1266 N Ardmore Ave, Los Angeles, CA 90029
Listing Price: $1,950,000
Investment Overview
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS.
Marcus & Millichap is pleased to offer for sale a nine-unit apartment community located at 1266 North Ardmore Avenue. The subject property is located south of Fountain Avenue and west of Normandie Avenue.
Located in the heart of vibrant East Hollywood, this property offers easy access to trendy cafes, local shops, and iconic entertainment in Hollywood, Silver Lake & Echo Park. Its prime location offers easy access to both Sunset Junction, about a mile east, and the Hollywood Freeway, providing an ideal combination of walkability and drivability. With increasing foot traffic, rising demand, and undeniable growth, this area is on a clear upward trajectory.
Situated on a 7,939 square foot parcel, the property is comprised of one studio, six one-bedroom units, and two two-bedroom units. The property has more than 33% remaining rental upside through unit renovations.
1266 North Ardmore Avenue offers a compelling opportunity to acquire a property in a sought-after pocket of East Hollywood combined with value-add potential to achieve enhance future returns.
1266 N Ardmore Ave
Investment Highlights
- There is 33 Percent Remaining Rental Upside Through Interior Renovations
- Located in a Desirable Pocket of East Hollywood, with a Walk Score of 91 "Walker's Paradise" – Daily Errands do not Require a Car
- Residents Enjoy Convenient Access to Vibrant Restaurants, Bars, Gyms, Grocery Stores and Entertainment
- Trash and a Water (Select Unit Only) are Paid by Tenants, Leading to a Lower Operating Cost and Higher Yields
- Located in a Designated Opportunity Zone and May be Eligible for Preferential Tax Treatment
- Operating at a Current 6.59% Cap Rate & 10.16 GRM
Exclusively Listed By
Financing By
Listing Price: $1,950,000
Investment Highlights
- There is 33 Percent Remaining Rental Upside Through Interior Renovations
- Located in a Desirable Pocket of East Hollywood, with a Walk Score of 91 "Walker's Paradise" – Daily Errands do not Require a Car
- Residents Enjoy Convenient Access to Vibrant Restaurants, Bars, Gyms, Grocery Stores and Entertainment
- Trash and a Water (Select Unit Only) are Paid by Tenants, Leading to a Lower Operating Cost and Higher Yields
- Located in a Designated Opportunity Zone and May be Eligible for Preferential Tax Treatment
- Operating at a Current 6.59% Cap Rate & 10.16 GRM
Investment Overview
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS. Marcus & Millichap is pleased to offer for sale a nine-unit apartment community located at 1266 North Ardmore Avenue. The subject property is located south of Fountain Avenue and west of Normandie Avenue. Located in the heart of vibrant East Hollywood, this property offers easy access to trendy cafes, local shops, and iconic entertainment in Hollywood, Silver Lake & Echo Park. Its prime location offers easy access to both Sunset Junction, about a mile east, and the Hollywood Freeway, providing an ideal combination of walkability and drivability. With increasing foot traffic, rising demand, and undeniable growth, this area is on a clear upward trajectory. Situated on a 7,939 square foot parcel, the property is comprised of one studio, six one-bedroom units, and two two-bedroom units. The property has more than 33% remaining rental upside through unit renovations. 1266 North Ardmore Avenue offers a compelling opportunity to acquire a property in a sought-after pocket of East Hollywood combined with value-add potential to achieve enhance future returns.
Exclusively Listed By
Financing By
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