5460 Sierra Vista Ave - Apartments FOR SALE


Los Angeles, CA 90038- East Hollywood
$9,300,000 USD
310-706-4400
5460 Sierra Vista Ave, Los Angeles, CA for Sale
$9,300,000 USD
Apartments - FOR SALE
1/9
null | 5% Cap Rate

5460 Sierra Vista Ave
Los Angeles, CA 90038
East Hollywood


HIGHLIGHTS

  • FIRST TIME ON MARKET IN 35+ YEARS: 5460 Sierra Vista has been owned by the same family since 1988.
  • HIGH ROI ON VALUE-ADD DOLLARS: By completing interior renovations, rental income can be increased by approximately 31%.
  • NOTABLE RECENT IMPROVEMENTS COMPLETED: Full copper re-pipe (2017), full window replacement (2024), new exterior paint (2023), and new roof replacement
  • ONE BLOCK FROM THE ECHELON STUDIOS DEVELOPMENT: Within one block of the highly anticipated Echelon Studios development
  • PROXIMITY TO NOTABLE MAJOR EMPLOYERS
  • HOLLYWOOD REMAINS WELL UNDER SUPPLIED & DEVELOPMENT PIPELINE IS DWINDLING

OVERVIEW

OFFERS DUE ON OR BEFORE WEDNESDAY, MARCH 26TH Will Respond to Offers as Received -------- Institutional Property Advisors (IPA), as the exclusive listing agent, is pleased to present the opportunity to acquire 5460 Sierra Vista (the “Property”), a 50-unit value-add opportunity located in the heart of Hollywood. Originally built in 1956, and owned by the same family for the past 35+ years, 5460 Sierra Vista offers investors compelling value-add potential by upgrading features such as appliances, countertops, cabinetry, and flooring. Post renovation, rental income can be increased by approximately 31%. 5460 Sierra Vista offers an exciting location just steps from the new Echelon Studios development in the heart of Hollywood. Major entertainment industry titans such as Netflix, NBC/ Universal, Warner Brothers, and Paramount/Skydance are within a 5-10 minute commute, 3 million total jobs across a diverse set of industries are accessible within 20-30 minutes given proximity to the 101-freeway, and retail located on Santa Monica Boulevard is one block away. Portfolio Offering: This Property is being offered concurrently with 1832 Garfield Place. The Properties can be purchased individually or as a portfolio. Contact the listing agents to learn more.

FOR SALE DETAILS

PRICE

$9,300,000 USD

PRICE/SF

$258 USD /SF

# OF UNITS

50

PRICE/UNIT

$186,000

CAP RATE

5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Royal Sierra

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1956

PARKING SPACES

46

LAND DETAILS

LAND ACRES

0.45 AC

LAND SF

19,602 SF

ZONING

R3-1

APN/PARCEL ID

5536-021-021

ASK ABOUT THIS PROPERTY

Kevin GreenTHG Multifamily AdvisorsMore Info
310-706-4400

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

Kevin GreenTHG Multifamily AdvisorsMore Info
310-706-4400

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