635 N Harvard Blvd - Apartments FOR SALE


Los Angeles, CA 90004- East Hollywood
$3,300,000 USD
818-667-6683
635 N Harvard Blvd, Los Angeles, CA for Sale
$3,300,000 USD
Apartments - FOR SALE
1/18
null | 5.41% Cap Rate

635 N Harvard Blvd
Los Angeles, CA 90004
East Hollywood


HIGHLIGHTS

  • Large Three-Bedroom Townhome Floorplans. Four of the seven residences are three-bedroom layouts ranging from approximately 1,104 to 1,209 square feet.
  • In-Unit Laundry. All seven residences feature their own in-unit laundry, providing a highly desirable amenity for tenants.
  • 2022-Built ADU. A fire-sprinklered studio accessory dwelling unit was added in 2022 and has its own Certificate of Occupancy.
  • Separately Metered Residences. Each of the six duplex residences is separately metered for water, gas, and electricity.
  • Recent leasing demonstrates demand for the property’s larger floorplans, with three-bedroom residences currently achieving rents as high as $3,806.

OVERVIEW

The LAAA Team of Marcus & Millichap is pleased to present 635 N Harvard Blvd, a newer-construction, seven-unit multifamily investment located in East Hollywood. The property consists of three three-story duplexes completed in 2020 and a studio accessory dwelling unit completed in 2022. The unit mix features four spacious three-bedroom townhome-style residences, two two-bedroom units, and one studio, totaling 6,398 square feet of living area on a 7,507-square-foot R3-1 lot. The offering combines strong in-place income with approximately 9% rental upside, providing investors with immediate cash flow and additional growth potential without a significant renovation program. Current scheduled rent of $250,176 increases to approximately $271,800 at projected market rents. Recent three-bedroom leasing activity further supports the property's income profile, with Unit 635 leased at $3,806 per month and Unit 637 ½ at $3,707 per month. Designed with modern rental demand in mind, four of the seven residences are large three-bedroom floorplans ranging from approximately 1,104 to 1,209 square feet. Every residence features in-unit laundry, while each of the six duplex residences is separately metered for water, gas, and electricity, allowing tenants to pay their utilities directly and helping reduce operating expenses for ownership. Carport parking is provided beneath the center and rear buildings. The property is well positioned for 1031 exchange buyers and private investors seeking newer construction in a supply-constrained infill market. Newer multifamily product is particularly limited in ZIP Code 90004, where approximately 60% of the housing stock was built before 1970. Located near Melrose Avenue and Western Avenue, 635 N Harvard Blvd sits between Hollywood and Koreatown with convenient access to major employment, entertainment, education, and healthcare destinations. The property carries a Walk Score of 91, a “Walker’s Paradise,” and is approximately 0.8 miles from Los Angeles City College, 0.9 miles from Paramount Pictures, and 1.3 miles from Kaiser Permanente Los Angeles Medical Center, Hollywood Presbyterian Medical Center, and Children’s Hospital Los Angeles.

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$516 USD /SF

# OF UNITS

7

PRICE/UNIT

$471,429

CAP RATE

5.41%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2020 Construction | Large Townhome Floorplans

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2020

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,509 SF

ZONING

LAR3

APN/PARCEL ID

5521-005-021

ASK ABOUT THIS PROPERTY

Glen ScherMarcus & MillichapMore Info
818-667-6683

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Glen ScherMarcus & MillichapMore Info
818-667-6683

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