8 Units in Prime Hollywood
Amazing 6% Cap Rate - 8 Units with 7 Fully Renovated Units
1127 Lodi Pl, Los Angeles, CA 90038 Los Angeles CA 90038
$3,150,000
Price
6.00 %
Cap Rate
12.20
GRM
8
Number of Units
Description
  • Huge 650k Price Reduction! 8-unit building with 7 fully renovated units in Prime Hollywood cash flowing at an incredible Current Cap Rate of 6% and 12.2 GRM from day 1! The 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements (5 vacant). The unit mix provides unparalleled versatility, including 2 spacious (2bed/3bath) units ideal for families, as well as 6 modern (1bed/1bath) units perfect for individuals seeking comfort and style. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. On top of that, the major systems have been updated including electrical, plumbing, HVAC, etc. Furthermore, there's an additional upside to almost 7% Cap Rate and 10.8 GRM on proforma. The property is located in the heart of the Hollywood entertainment industry just minutes away from Netflix studios, Paramount Studios, and Netflix Corporate office. Located just steps away from the world-famous Sunset Blvd, the property offers close proximity to neighborhood attractions, restaurants, bars, and shops such as the Hollywood Walk of Fame, Highlight Room, TAO, Bar-Lis, Dream Hotel, Thompson Hotel, and many more popping up all around the area.
  • 8 Unit building with 7 fully renovated vacancies with permits in Prime Hollywood area
  • Amazing Current Cap Rate of 6% and 12.2 GRM
  • Excellent unit mix consisted of 2 large (2bed/3bath) and 6 (1bed/1bath) units
  • Individually metered for Gas & Electricity
Excellent Hollywood Location
  • Located in the heart of Historic Hollywood, this property offers an exceptional opportunity for investors seeking a profitable venture. With its prime location and proximity to renowned studios such as Netflix, Sunset-Gower, and Sunset-Bronson Studios, the demand for housing in this area is unparalleled. The allure of Historic Hollywood with its rich history and cultural significance ensures a constant influx of tourists and visitors year-round, creating a high rental income potential!
FOR MORE DETAILS CONTACT
Armin Soleimani
Realtor
(310) 666-2246
ziuroiluj@gmail.com
Lic: 01846872
Julio Ruiz
Broker
(818) 524-0706
ziuroiluj@gmail.com
Lic: 01911261