Multifamily
535 North Heliotrope Drive
535 Heliotrope Dr, Los Angeles, CA 90004
Listing Price: $2,600,000
Investment Overview
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 12-unit apartment community located at 535 North Heliotrope Drive. The subject property is located north of Beverly Boulevard and east of Normandie Avenue.
The property is in the thriving neighborhood of East Hollywood just south of the 101 Freeway. Located on Heliotrope Drive, just minutes from Virgil Village and Silver Lake, 535 North Heliotrope provides tenants with easy access to some of the most popular bars, eateries and shopping in Los Angeles.
Situated on a 7,999 square foot parcel, the property is comprised entirely of one-bedroom units. There is 45% remaining rental upside through interior renovations. The property is in an Opportunity Zone which is drawing significant new capital in the immediate neighborhood, putting upward pressure on rental rates and property values.
535 North Heliotrope Drive offers investors an opportunity to acquire an asset in a sought-after in-fill submarket of Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 535 North Heliotrope an excellent acquisition opportunity.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
535 North Heliotrope Drive
Investment Highlights
- Walking distance to Virgil Village, Heliotrope presents a value proposition to residents who want the urban amenities of Silver Lake and Hollywood but have been priced out of the market
- Located in a designated opportunity zone and may be eligible for preferential tax treatment
- There is 45 percent remaining rental upside through interior renovations
- The government required seismic retrofit work has already been completed, which saves a new investor substantially in capital and time
- Family owned & operated for the last 12 years
- Surrounded by desirable neighborhoods such as Silver Lake, Echo Park, & Larchmont, East Hollywood is becoming a compelling value-proposition for tenants who are migrating out of these expensive neighboring submarkets
- Brand new construction surrounds the East Hollywood submarket demonstrating the influx of new capital pouring into the neighborhood
Exclusively Listed By
Financing By
Listing Price: $2,600,000
Investment Highlights
- Walking distance to Virgil Village, Heliotrope presents a value proposition to residents who want the urban amenities of Silver Lake and Hollywood but have been priced out of the market
- Located in a designated opportunity zone and may be eligible for preferential tax treatment
- There is 45 percent remaining rental upside through interior renovations
- The government required seismic retrofit work has already been completed, which saves a new investor substantially in capital and time
- Family owned & operated for the last 12 years
- Surrounded by desirable neighborhoods such as Silver Lake, Echo Park, & Larchmont, East Hollywood is becoming a compelling value-proposition for tenants who are migrating out of these expensive neighboring submarkets
- Brand new construction surrounds the East Hollywood submarket demonstrating the influx of new capital pouring into the neighborhood
Investment Overview
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 12-unit apartment community located at 535 North Heliotrope Drive. The subject property is located north of Beverly Boulevard and east of Normandie Avenue. The property is in the thriving neighborhood of East Hollywood just south of the 101 Freeway. Located on Heliotrope Drive, just minutes from Virgil Village and Silver Lake, 535 North Heliotrope provides tenants with easy access to some of the most popular bars, eateries and shopping in Los Angeles. Situated on a 7,999 square foot parcel, the property is comprised entirely of one-bedroom units. There is 45% remaining rental upside through interior renovations. The property is in an Opportunity Zone which is drawing significant new capital in the immediate neighborhood, putting upward pressure on rental rates and property values. 535 North Heliotrope Drive offers investors an opportunity to acquire an asset in a sought-after in-fill submarket of Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 535 North Heliotrope an excellent acquisition opportunity. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Exclusively Listed By
Financing By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
