903 N Heliotrope Dr - Apartments FOR SALE


Los Angeles, CA 90029- East Hollywood
$4,000,000 USD
310-993-7600
903 N Heliotrope Dr, Los Angeles, CA for Sale
$4,000,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

903 N Heliotrope Dr
Los Angeles, CA 90029
East Hollywood


HIGHLIGHTS

  • Located Directly Across The Street From LA City College
  • Excellent Unit Mix of Studios, One Bedroom, and 2 Bedroom Units
  • Being Sold At 2016 Purchase Price
  • Ability to Attract Students and Young Professionals

OVERVIEW

Heliotrope Towers is a 22-unit mid-century courtyard apartment community located in the center of East Hollywood, just one block west of Western Avenue. Built in 1959, the property features classic walk-up architecture with a bright central courtyard, efficient layouts, and approximately 12,160 square feet of improvements on a 12,500-square-foot lot. The unit mix includes one bachelor, four studios, fifteen one-bed/one-bath units, and two two-bed/two-bath units, appealing to students, professionals, and small households. The building offers 24 parking spaces, individual gas and electric metering, and the opportunity to implement RUBS for immediate operational savings. Directly across the street from Los Angeles City College, the property benefits from consistent leasing demand and year-round occupancy potential. With targeted interior and exterior upgrades, new ownership can reposition the asset to capture strong student and young-professional demand. The property is also walkable to the Vermont/Santa Monica Metro B Line, offering quick access to Hollywood, Downtown Los Angeles, and major regional employment hubs.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$329 USD /SF

# OF UNITS

22

PRICE/UNIT

$181,818

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Heliotrope Towers

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

36

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,502 SF

ZONING

LARD1.5

APN/PARCEL ID

5538-018-008

ASK ABOUT THIS PROPERTY

Peter StraussThe Mogharebi GroupMore Info
310-993-7600

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Peter StraussThe Mogharebi GroupMore Info
310-993-7600

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