$1,850,000
- Beds
- Unknown
- sq ft
- Unknown
1156 Gordon St, Los Angeles, CA 90038
1156 Gordon St
Los Angeles, CA 90038
- 21 days on market
We are pleased to present an unbeatable value add investment opportunity with immense rental upside in the heart of Hollywood! Standing on a +/- 6,504 sq ft. lot on the corner of Lexington Ave and Gordon St is a 6 unit building with 5 UNITS DELIVERED VACANT. There are 2 structures on the lot consisting of a 4 unit building and a duplex. All units are spacious and feature 1920's period details. Consists of six 1 bedroom / 1 bath units. The building has a newer roof, copper plumbing, and separate meters for gas and electric. The vacant units present the perfect opportunity to cosmetically remodel the interiors and achieve market rents. The occupied unit is already rented at close to market. When the vacant units are remodeled and rented, the building will generate approximately $150,288 in gross income and operate at a cap rate of at least 6%. The lot also includes 2 garages and an uncovered parking area, which can be used to build 1 or more ADUs for additional income. Less than 1 mile from the Netflix HQ, Paramount Pictures, and many other entertainment/media companies, the building is in a highly desirable rental market with close proximity to Hollywood attractions, the 101 freeway, and Downtown LA.
Details
Property type
Apartment
Lot size
6,506 sq ft
Price per sq ft
Unknown
Year built
1910
Price History
12/02/2024
CRMLS #SR24242436
Listed
$1,850,000
Schools & Community
Neighborhood:
Hollywood
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Community features: Curbs, Street Lights, Suburban, Sidewalks
Community features:
Curbs, Street Lights, Suburban, Sidewalks
Status: Active
Tomo last checked: 12/22/2024 at 10:05 PM
Listing updated: 12/04/2024 at 11:15 PM
Listed by: Anie Mayelian, Keller Williams Realty Calabasas Phone #: (818) 657-6500
MLS: CRMLS #SR24242436
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