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.