1770 El Cerrito Pl, Los Angeles, CA 90028

$5,250,000
17
BD
18
BA
10,166
SqFt
List Price
$5,250,000
Price Change
▼ $245,000 1675355214
MLS#
23-235509
Year Built
1958
Bedrooms
17
Bathrooms
18
Living Sq. Ft
10,166
Lot Size
11,040
Days on Market
15
Property Type
Multifamily
Style
Traditional
Stories
2

Property Description

Huge 750k Price Reduction! 16 Unit building with 9 vacancies in the Prime Hollywood area priced at only 328k/door in an Opportunity Zone. Fully Approved RTI plans to add 4 Attached ADUs to improve the numbers to only 262k/door. All 9 vacant units are under renovation so buyers can complete them to their own taste and finishes and get top market rents. (Most of the rough construction and heavy lifting have been done). This property cash flows at a 5.3% Cap Rate and 13.3 GRM on existing after renovations with an incredible upside to a 7.6% Cap Rate and 10.1 GRM on proforma. Great amenities such as Pool, Laundry Room, and carport garages. Individually metered for Gas & Electricity. Situated in the Heart of Hollywood, steps away from RunyonCanyon, Magic Castle, Yamashiro, and Hollywood Bowl! The soft story has already been completed and the roof has been recently updated. Potential to create and add a rooftop to maximize rents and amenities.

Additional Information

Other Buildings
None
Heat
Wall
Cooling
None
Number of Cars in Garage
Covered Parking

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of , Julio Ruiz - CA DRE#

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