917-919 N Ardmore Ave - Apartments FOR SALE


Los Angeles, CA 90029- East Hollywood
$2,200,000 USD
310-600-9858
917-919 N Ardmore Ave, Los Angeles, CA for Sale
$2,200,000 USD
Apartments - FOR SALE
1/14
null | 5.72% Cap Rate

917-919 N Ardmore Ave
Los Angeles, CA 90029
East Hollywood


HIGHLIGHTS

  • Current rents reflect a 25% loss-to-lease allowing a new owner to capture additional upside as units turn
  • Subject property sits on a very large 9,050 sf lot zoned LAR3-1
  • The large lot provides 9 parking spaces and the potential add additional units via SB 1211
  • Property boasts a great unit mix consisting of (8) large Studio, 1 Bath and (9) 1 Bed, 1 Bath townhome units spread out over 5,666 sf

OVERVIEW

We are pleased to present 917 N. Ardmore Avenue, a 10-unit multifamily investment opportunity located in the heart of Hollywood, ideally situated between Melrose Avenue and Santa Monica Boulevard. Built in 1959, the property offers an excellent unit mix comprising one (1) studio and nine (9) one-bedroom, one-bathroom units, totaling approximately 5,666 square feet of rentable space. The building is situated on a generous 9,050 square foot lot zoned LAR3, providing significant development potential. The units are distributed across two separate structures with ample on-site open parking. With nearly 25% rental upside, this offering presents a compelling value-add opportunity. A new owner can capitalize on below-market rents as units turn, while also exploring the potential to add additional units on the spacious R3-zoned lot. Priced at 11 times gross rent, attractive new acquisition financing is available. Please contact the listing agents for further details.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$389 USD /SF

# OF UNITS

10

PRICE/UNIT

$220,000

CAP RATE

5.72%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,060 SF

ZONING

R3, Los Angeles

APN/PARCEL ID

5537-024-017

ASK ABOUT THIS PROPERTY

Will JamesLyon Stahl Investment Real EstateMore Info
310-600-9858

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Will JamesLyon Stahl Investment Real EstateMore Info
310-600-9858

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