6705 De Longpre Ave - Apartments FOR SALE


Los Angeles, CA 90028- Hollywood
$3,750,000 USD
6705 De Longpre Ave, Los Angeles, CA for Sale
$3,750,000 USD
Apartments - FOR SALE
1/35
null | 5.45% Cap Rate

6705 De Longpre Ave
Los Angeles, CA 90028
Hollywood


OVERVIEW

The Azzi Group of Marcus & Milichap is pleased to present the opportunity to acquire 6705 De Longpre Ave, a 20-unit multifamily apartment building in the Hollywood submarket of Los Angeles, CA 90028. Offered at $3.75 million ($187,500 per unit), this 20-unit studio community presents investors with an attractive basis in one of Los Angeles' most established multifamily submarkets. Studio rent comparable support the projected underwriting, with average asking rents of approximately $1,563, providing a clear path for future rental growth and revenue upside. The property benefits from a highly walkable location near both Sunset Boulevard and Hollywood Boulevard, offering residents convenient access to popular dining, shopping, entertainment, and neighborhood amenities. Ownership has completed several key capital improvements, including new electrical panels and new community laundry machines, helping to reduce future capital expenditure requirements. Additionally, the property offers 20 on-site parking spaces—one space per unit—a highly desirable amenity in the competitive Hollywood rental market.

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$414 USD /SF

# OF UNITS

20

PRICE/UNIT

$187,500

CAP RATE

5.45%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1951

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,601 SF

ZONING

R4-2, Los Angeles

APN/PARCEL ID

5547-021-019

ASK ABOUT THIS PROPERTY

Tony AzziMarcus & MillichapMore Info

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Tony AzziMarcus & MillichapMore Info

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