1640 N Harvard Blvd - Apartments FOR SALE


Los Angeles, CA 90027- Thai Town
$4,300,000 USD
310-940-8749
1640 N Harvard Blvd, Los Angeles, CA for Sale
$4,300,000 USD
Apartments - FOR SALE
1/9
null | 3.17% Cap Rate

1640 N Harvard Blvd
Los Angeles, CA 90027
Thai Town


HIGHLIGHTS

  • 1640 N. Harvard offers an opportunity to reposition a courtyard-style property near several of Northeast LA’s hottest lifestyle and employment hubs.
  • Tenants will appreciate walkable access to Hillhurst Ave, Griffith Park trails, the cultural energy of Vermont Avenue, Barnsdall Art Park.
  • The property is 2 miles from Sunset Junction in Silver Lake; and just minutes from the Hollywood Media District, a significant employment hub.
  • Current rents are significantly below market, with a projected 61% rental upside through interior renovations and system upgrades.
  • Stabilized metrics pencil at a 6.44% CAP and 11.30 GRM. Additional opportunity exists in the underutilized lot size, which may support ADU development
  • Set on a 14,140 SF lot, the property features a classic garden-style layout, gated entry, community laundry, and ample covered carport parking.

OVERVIEW

Tucked between East Hollywood and the heart of Los Feliz, 1640 N. Harvard offers an opportunity to reposition a character-rich, courtyard-style property near several of Northeast LA's hottest lifestyle and employment hubs. Tenants will appreciate walkable access to Los Feliz icons like Hillhurst Avenue’s Maru Coffee, Found Oyster, and Alcove Café, the trailheads of Griffith Park, and the cultural energy of Vermont Avenue, Barnsdall Art Park, and the Greek Theatre. The property is also under 2 miles from Sunset Junction in Silver Lake; and just minutes from the Hollywood Media District, a significant employment hub for entertainment, post-production, and creative tech. Set on a 14,140 SF lot, the property features a classic garden-style layout with mature landscaping, gated entry, community laundry, and ample covered carport parking. Offered at $286,667 per unit and $489 per foot, the property represents a rare combination of affordability and long-term upside. Current rents are significantly below market, with a projected 61% rental upside through interior renovations and system upgrades. Stabilized metrics pencil at a 6.44% CAP and 11.30 GRM.Additional opportunity exists in the site’s underutilized lot size, which may support ADU development (buyer to verify). Investors with a long-term lens will see the location, lot size, and configuration as an ideal canvas for repositioning in a neighborhood where lifestyle is the greatest amenity.

FOR SALE DETAILS

PRICE

$4,300,000 USD

PRICE/SF

$273 USD /SF

# OF UNITS

16

PRICE/UNIT

$268,750

CAP RATE

3.17%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

16 Units w/ 61% Upside in East Hollywood

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1952

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

14,140 SF

ZONING

LARD1.5

APN/PARCEL ID

5544-016-013

ASK ABOUT THIS PROPERTY

Kenny StevensCompassMore Info
310-940-8749

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Kenny StevensCompassMore Info
310-940-8749

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