Multifamily
Hayden on Hollywood
7200 Hollywood Blvd, Los Angeles, CA 90046
Listing Price: $16,250,000
Investment Overview
Institutional Property Advisors (“IPA”), as the exclusive listing agent, is pleased to present the opportunity to acquire Hayden on Hollywood (the “Property”), a four-building, 74-unit multifamily community located in the Hollywood submarket of Los Angeles.
Originally constructed between 1938 and 1953, current ownership has spent $4.7M ($60K+ per unit) on capital expenditures to completely transform the community. Many of the Property’s mechanical systems and building improvements have been addressed which allows investors to focus almost entirely on high return on investment interior renovations moving forward.
51 of the 74 unit interiors (69%) have been extensively renovated, including new cabinetry, new stainless steel appliances, plank vinyl flooring (or refinished oak hardwood floors), quartz countertops, backsplash, new dual-pane windows, recessed LED lighting fixtures, upgraded plumbing fixtures and in-unit washers
and dryers (in select units). Investors will have the opportunity to follow this proven interior renovation
strategy in the remaining 23 units (31%) and capture 11%+ upside in rental income.
Hayden on Hollywood
Investment Highlights
- TURN-KEY WITH UPSIDE - Hayden on Hollywood offers investors a proven interior renovation scope to emulate and capture 11%+ in remaining rental income upside.
- COMMON AREA CAPEX NEEDS ALREADY ADDRESSED - Investors will be able to focus almost entirely on high return on investment interior renovations in the remaining unrenovated units.
- HIGH IMPACT IMPROVEMENTS - Notable capital improvements include seismic retrofitting in the parking areas, upgraded electrical systems, and replacing all of the windows throughout the community.
- ADJACENT TO WEST HOLLYWOOD & THE SUNSET STRIP - The 90046 zip code of Hollywood is a high demand rental market. 77% of the population are renters and 51% are between the ages of 20 and 44. The median home value is over $2.275M which prices most of the population out of home ownership.
- A TRUE LIVE, WORK, PLAY LOCATION - The Property offers residents a true live, work, play environment with proximity to some of Hollywood's best dining, retail shopping, and cultural destinations along Hollywood and Sunset Boulevard.
- STRONG RECENT LEASING - The Property recently achieved $1,749 on a renovated studio, $1,995 on a renovated 1-bedroom, and $2,799 on a renovated 2-bedroom.
- INDIVIDUAL BUILDING SELL OFF EXIT STRATEGY - The Property consists of 4 non-contiguous buildings that are separately parceled which provides disposition optionality including the ability to sell parcels individually to reduce closing costs and maximize proceeds.
Exclusively Listed By
Listing Price: $16,250,000
Investment Highlights
- TURN-KEY WITH UPSIDE - Hayden on Hollywood offers investors a proven interior renovation scope to emulate and capture 11%+ in remaining rental income upside.
- COMMON AREA CAPEX NEEDS ALREADY ADDRESSED - Investors will be able to focus almost entirely on high return on investment interior renovations in the remaining unrenovated units.
- HIGH IMPACT IMPROVEMENTS - Notable capital improvements include seismic retrofitting in the parking areas, upgraded electrical systems, and replacing all of the windows throughout the community.
- ADJACENT TO WEST HOLLYWOOD & THE SUNSET STRIP - The 90046 zip code of Hollywood is a high demand rental market. 77% of the population are renters and 51% are between the ages of 20 and 44. The median home value is over $2.275M which prices most of the population out of home ownership.
- A TRUE LIVE, WORK, PLAY LOCATION - The Property offers residents a true live, work, play environment with proximity to some of Hollywood's best dining, retail shopping, and cultural destinations along Hollywood and Sunset Boulevard.
- STRONG RECENT LEASING - The Property recently achieved $1,749 on a renovated studio, $1,995 on a renovated 1-bedroom, and $2,799 on a renovated 2-bedroom.
- INDIVIDUAL BUILDING SELL OFF EXIT STRATEGY - The Property consists of 4 non-contiguous buildings that are separately parceled which provides disposition optionality including the ability to sell parcels individually to reduce closing costs and maximize proceeds.
Investment Overview
Institutional Property Advisors (“IPA”), as the exclusive listing agent, is pleased to present the opportunity to acquire Hayden on Hollywood (the “Property”), a four-building, 74-unit multifamily community located in the Hollywood submarket of Los Angeles. Originally constructed between 1938 and 1953, current ownership has spent $4.7M ($60K+ per unit) on capital expenditures to completely transform the community. Many of the Property’s mechanical systems and building improvements have been addressed which allows investors to focus almost entirely on high return on investment interior renovations moving forward. 51 of the 74 unit interiors (69%) have been extensively renovated, including new cabinetry, new stainless steel appliances, plank vinyl flooring (or refinished oak hardwood floors), quartz countertops, backsplash, new dual-pane windows, recessed LED lighting fixtures, upgraded plumbing fixtures and in-unit washers and dryers (in select units). Investors will have the opportunity to follow this proven interior renovation strategy in the remaining 23 units (31%) and capture 11%+ upside in rental income.
Exclusively Listed By
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