Rare opportunity to secure a well-maintained Hollywood triplex with immediate upside and strong cash flow potential. Fully stabilized, the property can generate approximately $90,000 per year in gross rental income, yielding an estimated net operating income of $54,000 annually and a projected 4.5% cap rate at the $1.2 million purchase… Read More price. Current income totals $4,400 per month from two occupied units: a spacious 3-bedroom, 2-bath unit renting at $2,900/month and a 1-bedroom, 1-bath unit renting at $1,500/month. The third unit, delivered vacant, is a bright 1-bedroom, 1-bath with a private balcony, ready to lease at market rate of approximately $2,500/month, immediately boosting total monthly income to $7,500. Operating expenses are just $3,000 per month ($36,000 annually), supporting strong cash flow and a clear path to increase income by over 50% as existing below-market rents are adjusted over time. Zoned RD1.5XL, the property allows 5 units by right or up to 8 units with TOC Tier 2 bonuses, offering exceptional redevelopment potential in a rapidly transforming neighborhood. A similar property next door was recently redeveloped into 8+ units, highlighting the area's upside for developers. The building has been well maintained and features on-site parking and a private yard. The back unit, built in 2011, is not subject to LA's rent control ordinance (buyer to verify), providing additional long-term flexibility. Located near Paramount Studios and Hollywood's major employers, this property is an ideal opportunity for investors seeking immediate income with substantial growth potential. Buyers to independently verify all information. Read Less
Courtesy of Nicholas Property Group 310-770-1847
Listing Snapshot
Days Online
186
Last Updated
Property Type
Other
Beds
7
Square Ft.
2,654
Lot Size
0.16 Acres
Year Built
1913
MLS Number
25492999
Additional Details
Appliances & Equipment
None
Building
2,654 sq ft, Built in 1913, Levels: Multi/Split
Cooling
None
Disclosures
None
Garage
Attached, Side By Side, Uncovered
Heating
None
Lot
LotAcreage: 0.155, LotSizeArea: 6,752
Parking
TotalParking: 4
Property
NumberOfUnits: 3, Zoning: LARD1.5
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