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
Courtesy of , Julio Ruiz - CA DRE#
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