1045 N Ardmore Ave - Apartments FOR SALE


Los Angeles, CA 90029- East Hollywood
$3,500,000 USD
310-666-2246
1045 N Ardmore Ave, Los Angeles, CA for Sale
$3,500,000 USD
Apartments - FOR SALE
1/24
null | 6% Cap Rate

1045 N Ardmore Ave
Los Angeles, CA 90029
East Hollywood


HIGHLIGHTS

  • Renovated 13-unit building with strong cash flow at a 6% Cap Rate from day one, offering a 37% upside to a 9% Cap on Proforma.
  • Attractive pricing at $324/SF and $269k per door, featuring a diverse unit mix.
  • Recent renovations include most units and two new attached ADUs, with amenities like gated entry, communal laundry, large balconies and patios & more.
  • Prime East Hollywood location close to Vermont/Santa Monica Metro, Silverlake, Hollywood, and trendy spots such as the Hollywood Walk of Fame & more!

OVERVIEW

3rd Price Reduction! Renovated 13-unit building cash flowing at an amazing 6% Cap Rate from day 1 with 37% upside to an 9% Cap on Proforma! Attractively priced at only $324/SF and $269k/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 may be 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

$3,500,000 USD

PRICE/SF

$325 USD /SF

# OF UNITS

13

PRICE/UNIT

$269,231

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Reduced! 13 Units 6% Cap w/ upside to 9%

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

9,022 SF

ZONING

LAR3

APN/PARCEL ID

5537-019-028

ASK ABOUT THIS PROPERTY

Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

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Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

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