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Multifamily

5425 Santa Monica Blvd

5425 Santa Monica Blvd, Los Angeles, CA 90029

Listing Price: $8,300,000

Cap Rate
5.49%
Number of Units
34
Price/Unit
$244,118
Price/Gross SF
$305.24
Gross SF
27,192

Investment Overview

Marcus & Millichap is pleased to present 5425 Santa Monica Boulevard in Los Angeles, CA 90029. Built in 1925, this prime mixed-use opportunity consists of 30 apartment units and 6,500 SF of commercial space located in the Hollywood Studio District of Los Angeles. This four-story building features 24 singles, 6 one-bedrooms, and 4 retail or office spaces. This offering presents the investor the opportunity to purchase a well-maintained property with stable cash flow of 5.49% on current income. The apartment units offer over 14% rental upside as units turn along with rental increases throughout the leases of the commercial tenants. Additionally, an investor will have the opportunity to increase cash flow with the addition of signage on the east side of the property. The Hollywood market remains one of the most desirable submarkets for living and working. With over 100,000 people living within one-mile and an average home value of over $840,000 within a three-mile radius, the demand for apartment units continues to increase year-over-year. The subject property has a walk score of 92 and offers direct access to the 101 Freeway and a quick walk to to both the Western/Hollywood Blvd Station and the Vermont/Santa Monica Blvd Station.

Investment Highlights

  • 5425 Santa Monica Boulevard is a mixed-use investment opportunity consisting of 30 apartment units and four commercial spaces located in Hollywood
  • 24 singles and 6 one-bedrooms; the units are well-maintained and provide an investor with strong in-place cash flow with 14% additional rental upside
  • The subject property also features signage on both the east and west sides of the building allowing an investor to collect additional income
  • Located within a newly established Qualified Opportunity Zone for investment, established by the Tax Cuts and Jobs Act, Section 1400Z.
  • The first floor consists of four commercial spaces, ranging from 925-2,705 SF; minimal landlord responsibilities, electricity paid for by the tenants

Exclusively Listed By

  • Neema Ahadian

    Senior Managing Director Investments

    (310) 909-5444

    Email Neema

    License(s): CA: 01346750

    West Los Angeles

  • Leonardo Laterza

    Senior Associate

    Email Leonardo

    License(s): CA: 01861324

    West Los Angeles

Financing By

Listing Price: $8,300,000

Cap Rate
5.49%
Number of Units
34
Price/Unit
$244,118
Price/Gross SF
$305.24
Gross SF
27,192

Investment Highlights

  • 5425 Santa Monica Boulevard is a mixed-use investment opportunity consisting of 30 apartment units and four commercial spaces located in Hollywood
  • 24 singles and 6 one-bedrooms; the units are well-maintained and provide an investor with strong in-place cash flow with 14% additional rental upside
  • The subject property also features signage on both the east and west sides of the building allowing an investor to collect additional income
  • Located within a newly established Qualified Opportunity Zone for investment, established by the Tax Cuts and Jobs Act, Section 1400Z.
  • The first floor consists of four commercial spaces, ranging from 925-2,705 SF; minimal landlord responsibilities, electricity paid for by the tenants

Investment Overview

Marcus & Millichap is pleased to present 5425 Santa Monica Boulevard in Los Angeles, CA 90029. Built in 1925, this prime mixed-use opportunity consists of 30 apartment units and 6,500 SF of commercial space located in the Hollywood Studio District of Los Angeles. This four-story building features 24 singles, 6 one-bedrooms, and 4 retail or office spaces. This offering presents the investor the opportunity to purchase a well-maintained property with stable cash flow of 5.49% on current income. The apartment units offer over 14% rental upside as units turn along with rental increases throughout the leases of the commercial tenants. Additionally, an investor will have the opportunity to increase cash flow with the addition of signage on the east side of the property. The Hollywood market remains one of the most desirable submarkets for living and working. With over 100,000 people living within one-mile and an average home value of over $840,000 within a three-mile radius, the demand for apartment units continues to increase year-over-year. The subject property has a walk score of 92 and offers direct access to the 101 Freeway and a quick walk to to both the Western/Hollywood Blvd Station and the Vermont/Santa Monica Blvd Station.

Exclusively Listed By

  • Neema Ahadian

    Senior Managing Director Investments

    (310) 909-5444

    Email Neema

    License(s): CA: 01346750

    West Los Angeles

  • Leonardo Laterza

    Senior Associate

    Email Leonardo

    License(s): CA: 01861324

    West Los Angeles

Financing By

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