1014 N El Centro Ave - Apartments FOR SALE


Los Angeles, CA 90038- Hollywood
$1,680,000 USD
213-943-1897
1014 N El Centro Ave, Los Angeles, CA for Sale
$1,680,000 USD
Apartments - FOR SALE
1/8
null | 5.14% Cap Rate

1014 N El Centro Ave
Los Angeles, CA 90038
Hollywood


HIGHLIGHTS

  • There is approximately 14% rental upside remaining, capturable through ordinary turnover.
  • The property is offered at $264 per square foot, below the average of the recent comparable sales in the surrounding Hollywood submarket.
  • The property carries a Walk Score of 94. Groceries, restaurants and daily needs sit along Santa Monica Boulevard, one block south.
  • Metro's B Line at Hollywood/Vine connects residents to Koreatown, DTLA and the San Fernando Valley, with the 101 Freeway minutes away.
  • Major entertainment employers sit within a mile — Paramount Pictures, Sunset Las Palmas Studios, and Netflix's Sunset Boulevard campuses.
  • The property offers five one-bedroom units and two two-bedroom units.

OVERVIEW

The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 1014-1018 North El Centro Avenue, a seven-unit apartment community located in the Hollywood neighborhood of Los Angeles, just north of Santa Monica Boulevard between Vine Street and Gower Street. Built in 1949, the property comprises 6,375 square feet of improvements on a 6,481-square-foot parcel, with a unit mix of five one-bedroom units and two two-bedroom units. There is approximately 14% rental upside remaining, capturable through ordinary turnover. The offering is priced at $264 per square foot, below the average of the recent comparable sales in the surrounding Hollywood submarket. The property carries a Walk Score of 94, with retail and dining along Santa Monica Boulevard a block south. Paramount Pictures on Melrose Avenue, Sunset Las Palmas Studios, and the Sunset Boulevard creative-office campuses anchored by Netflix are all within about a mile, as are Metro’s B Line at Hollywood/Vine and the 101 Freeway. 1014-1018 North El Centro Avenue offers investors an opportunity to acquire a well-maintained asset with remaining upside in one of the most established rental submarkets in Los Angeles. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.

FOR SALE DETAILS

PRICE

$1,680,000 USD

PRICE/SF

$264 USD /SF

# OF UNITS

7

PRICE/UNIT

$240,000

CAP RATE

5.14%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1949

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,481 SF

ZONING

[Q]R4-1VL-CPIO

APN/PARCEL ID

5534-023-012

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.