Skip to main content

Multifamily

1862 Van Ness Ave

1862 N Van Ness Ave, Los Angeles, CA 90028

Listing Price: $2,075,000

Cap Rate
4.80%
Number of Units
6
Price/Unit
$345,833
Price/Gross SF
$203.57
Gross SF
10,193

Investment Overview

1862 Van Ness Avenue, in Hollywood, CA. Built in 1921, this unique property made up of six units will be delivered with two units vacant (two one-bedrooms). This is an ideal investment opportunity located in a prime area of Hollywood with strong cashflow at a 4.66% CAP rate on current income with additional 19% rental upside. The building features a unit mix made up of one-bedrooms and two-bedrooms, each with spacious layouts. The property comes with 3 garage spaces as well as four open spaces in the back of the building for a total of seven parking spaces. There is no soft story retrofit required. The units are separately metered for gas & electric, have individual water heaters as well as central air and ceiling fans throughout. Furthermore, there is in-unit laundry in three of the units and the two-bedrooms feature large private balconies. This exclusive pocket of Hollywood remains one of the most desirable addresses for both living and working. With the median household income continuing to rise and average home value of over $1 million within three miles, the demand for apartment units increases year-over-year exemplified with surrounding new residential and office developments as well as major employers established in the submarket. 1862 Van Ness Avenue is ideally situated to benefit from this economic growth as thousands of new high-paying jobs are within walking distance. The subject property has a walk score of 86 with unparalleled access to nightlife, dining, education and employment opportunities.

Investment Highlights

  • a 6-unit investment opportunity with strong cashflow at a 4.66% CAP rate on current income and located in an irreplaceable location of Hollywood, Just one block north of Hollywood Boulevard
  • This prime offering is located in central Hollywood location giving an investor the opportunity to purchase an asset with 4 of 6 units occupied
  • The subject property, built in 1921 features a mix of one-bedrooms and two-bedrooms; the units are spacious with the feel of a home residence
  • Ample parking onsite with three garage spaces and four open spaces at the rear of the buildings with no soft story retrofit work required; Three of the units have laundry and the two-bedrooms feature large private balconies
  • Ease of management as gas & electric are separately metered as well as individual water heaters; central air and ceiling fans in select units.
  • • Amazing walk score of 86, walking distance to the heart of Hollywood with countless nighttime entertainment and dining options; surrounded by new developments in the neighborhood as well as major employers in Los Angeles such as LiveNation, Capitol Records, HBO and Netflix among many others
  • Significant affordability gap to home ownership in Hollywood. The monthly payment on a median-priced home—inclusive of condos—is drastically higher than average rents in the area, which serves as a constant occupancy driver for apartment communities in Hollywood

Exclusively Listed By

Listing Price: $2,075,000

Cap Rate
4.80%
Number of Units
6
Price/Unit
$345,833
Price/Gross SF
$203.57
Gross SF
10,193

Investment Highlights

  • a 6-unit investment opportunity with strong cashflow at a 4.66% CAP rate on current income and located in an irreplaceable location of Hollywood, Just one block north of Hollywood Boulevard
  • This prime offering is located in central Hollywood location giving an investor the opportunity to purchase an asset with 4 of 6 units occupied
  • The subject property, built in 1921 features a mix of one-bedrooms and two-bedrooms; the units are spacious with the feel of a home residence
  • Ample parking onsite with three garage spaces and four open spaces at the rear of the buildings with no soft story retrofit work required; Three of the units have laundry and the two-bedrooms feature large private balconies
  • Ease of management as gas & electric are separately metered as well as individual water heaters; central air and ceiling fans in select units.
  • • Amazing walk score of 86, walking distance to the heart of Hollywood with countless nighttime entertainment and dining options; surrounded by new developments in the neighborhood as well as major employers in Los Angeles such as LiveNation, Capitol Records, HBO and Netflix among many others
  • Significant affordability gap to home ownership in Hollywood. The monthly payment on a median-priced home—inclusive of condos—is drastically higher than average rents in the area, which serves as a constant occupancy driver for apartment communities in Hollywood

Investment Overview

1862 Van Ness Avenue, in Hollywood, CA. Built in 1921, this unique property made up of six units will be delivered with two units vacant (two one-bedrooms). This is an ideal investment opportunity located in a prime area of Hollywood with strong cashflow at a 4.66% CAP rate on current income with additional 19% rental upside. The building features a unit mix made up of one-bedrooms and two-bedrooms, each with spacious layouts. The property comes with 3 garage spaces as well as four open spaces in the back of the building for a total of seven parking spaces. There is no soft story retrofit required. The units are separately metered for gas & electric, have individual water heaters as well as central air and ceiling fans throughout. Furthermore, there is in-unit laundry in three of the units and the two-bedrooms feature large private balconies. This exclusive pocket of Hollywood remains one of the most desirable addresses for both living and working. With the median household income continuing to rise and average home value of over $1 million within three miles, the demand for apartment units increases year-over-year exemplified with surrounding new residential and office developments as well as major employers established in the submarket. 1862 Van Ness Avenue is ideally situated to benefit from this economic growth as thousands of new high-paying jobs are within walking distance. The subject property has a walk score of 86 with unparalleled access to nightlife, dining, education and employment opportunities.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower