1045 N Ardmore Ave - Apartments FOR SALE


Los Angeles, CA 90029- East Hollywood
$3,750,000 USD
818-448-4415
1045 N Ardmore Ave, Los Angeles, CA for Sale
$3,750,000 USD
Apartments - FOR SALE
1/23
null | 5.25% Cap Rate

1045 N Ardmore Ave
Los Angeles, CA 90029
East Hollywood


HIGHLIGHTS

  • Renovated 13-Unit Building Cash Flowing at a 5.25% Cap Rate from Day 1 with Upside to an 8.2% Cap on Proforma!
  • Large Unit Mix of 3 (2 Bed/2 Bath) Units, 9 (1 Bed/1 Bath) Units, and 1 (Studio/1 Bath) Unit Including 2 Brand-New ADUs
  • Attractively Priced at $347/SF and $288k/Door in Prime East Hollywood Location Minutes from Silver Lake, Griffith Park, Etc.

OVERVIEW

Price Reduction! Renovated 13-unit building cash flowing at an amazing 5.25% Cap Rate from day 1 with 41% upside to an 8.2% Cap on Proforma! Attractively priced at only $348/SF and $288k/door with a large unit mix consisting of 3 (2bed/2bath) units, 9 spacious (1bed/1bath) units, and 1 (studio/1bath) unit. Majority of the units (7) have been renovated including 2 brand-new attached ADUs. Amenities include gated entry, communal laundry room, large balconies, large patios, as well as 9 parking spaces (4 of which have not been officially assigned and maybe rented for additional income). Many units boast updated cabinets, flooring, lighting, bathrooms, and significant exterior improvements including soft-story retrofit. Prime East Hollywood location just minutes away from the Vermont/Santa Monica Metro station, Silverlake, Hollywood, West Hollywood as well as many hip neighborhood attractions, restaurants, bars, and shops such as Hollywood Walk of Fame, Griffith Observatory, Cara Hotel, Saffy's Restaurant, Courage Bagels, and many more.

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$348 USD /SF

# OF UNITS

13

PRICE/UNIT

$288,462

CAP RATE

5.25%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Reduced! 13 Units 5.25% Cap w upside 8.2%

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,130 SF

ZONING

LAR3

APN/PARCEL ID

5537-019-028

ASK ABOUT THIS PROPERTY

Jason TuviaMarcus & MillichapMore Info
818-448-4415

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Jason TuviaMarcus & MillichapMore Info
818-448-4415

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