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Multifamily

5837 Gregory Ave

5837 Gregory Ave, Los Angeles, CA 90038

Listing Price: $2,550,000

Cap Rate
4.40%
Number of Units
8
Price/Unit
$318,750
Price/Gross SF
$400.94
Gross SF
6,360

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 5837 Gregory Avenue, an elegant, well-maintained eight-unit multifamily property in Hollywood, CA, mere blocks from Hancock Park. This Spanish Colonial Revival property is located on a calm street next to the world-renowned Paramount Studios. These lovely one-bedroom floorplans are spacious, light, and extremely comfortable, measuring nearly 800 square feet each. A new investor can enjoy the initial 4.40% CAP Rate, which could eventually improve to a 6.30% CAP Rate once the approximately 30% rent upside is captured. Built in 1930, this property exemplifies pride of ownership, with its manicured courtyard, clean units, and ample amenities. Tenants enjoy six covered and secured parking spaces, wood flooring, updated appliances, and on-site laundry. The property is well located, situated between the main attractions of Hollywood and the appealing neighborhoods of Hancock Park and Larchmont Village. This area has seen a massive influx of capital and new development, with 52 units being constructed on the corner of Melrose Avenue and Beachwood Drive. This investment allows an owner to capitalize on the amenities within the upscale Hancock Park neighborhood, but at a much more affordable price point.

Investment Highlights

  • Elegant Spanish Colonial Revival Architecture with Impressive Character
  • Strong Returns -- 4.40% Initial CAP Rate with Approximately 30% Rent Upside
  • Spacious Floorplans -- One Bedroom Units Averaging Nearly 800 Square Feet Each
  • Blocks from Upscale Hancock Park
  • Situated Between Santa Monica Boulevard and Melrose Avenue – Easy Access to Both Hollywood Walk of Fame and Larchmont Village
  • Attractive Price per Square Foot Compared to Similar Recent Sales
  • One Block from World-Famous Paramount Studios and Less Than One Mile from Wilshire Country Club
  • Gated On-Site Parking -- A Valuable Amenity in the Dense Hollywood Market

Exclusively Listed By

Financing By

Listing Price: $2,550,000

Cap Rate
4.40%
Number of Units
8
Price/Unit
$318,750
Price/Gross SF
$400.94
Gross SF
6,360

Investment Highlights

  • Elegant Spanish Colonial Revival Architecture with Impressive Character
  • Strong Returns -- 4.40% Initial CAP Rate with Approximately 30% Rent Upside
  • Spacious Floorplans -- One Bedroom Units Averaging Nearly 800 Square Feet Each
  • Blocks from Upscale Hancock Park
  • Situated Between Santa Monica Boulevard and Melrose Avenue – Easy Access to Both Hollywood Walk of Fame and Larchmont Village
  • Attractive Price per Square Foot Compared to Similar Recent Sales
  • One Block from World-Famous Paramount Studios and Less Than One Mile from Wilshire Country Club
  • Gated On-Site Parking -- A Valuable Amenity in the Dense Hollywood Market

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 5837 Gregory Avenue, an elegant, well-maintained eight-unit multifamily property in Hollywood, CA, mere blocks from Hancock Park. This Spanish Colonial Revival property is located on a calm street next to the world-renowned Paramount Studios. These lovely one-bedroom floorplans are spacious, light, and extremely comfortable, measuring nearly 800 square feet each. A new investor can enjoy the initial 4.40% CAP Rate, which could eventually improve to a 6.30% CAP Rate once the approximately 30% rent upside is captured. Built in 1930, this property exemplifies pride of ownership, with its manicured courtyard, clean units, and ample amenities. Tenants enjoy six covered and secured parking spaces, wood flooring, updated appliances, and on-site laundry. The property is well located, situated between the main attractions of Hollywood and the appealing neighborhoods of Hancock Park and Larchmont Village. This area has seen a massive influx of capital and new development, with 52 units being constructed on the corner of Melrose Avenue and Beachwood Drive. This investment allows an owner to capitalize on the amenities within the upscale Hancock Park neighborhood, but at a much more affordable price point.

Exclusively Listed By

Financing By

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