972 N El Centro Avenue

    Los Angeles (City), CA 90038
    • $2,580,000
    • STATUS: Active
    • ON SITE: 74 days
    • ID#: 18332432
    Price Reduced
    $2,580,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,470
      SQFT
    • $305
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    972 North El Centro Avenue is a twelve-unit apartment building located in the heart of Los Angeles' Hollywood neighborhood. As one of Los Angeles' densely populated neighborhoods, this submarket's popularity has grown significantly over the recent years. The charming 1924 building consists of twelve (12) large one-bedroom/one-bathroom units, approximately 700 square feet, and is conveniently separately metered for gas and electric. Along with dual entrances and individual water heaters in each unit, the corner-lot property has been well-maintained throughout and with two units being delivered vacant, new ownership will have the opportunity to renovate and achieve additional rental premiums immediately. The property offers two (2) on-site parking spaces (buyer to verify if parking spaces are permitted.) This is a true value-add opportunity for an investor to acquire with significant rental upside in one of the nation's most desirable and thriving neighborhoods.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-06-25T00:27:11.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.playavistaliving.com/homes/82510158

    972 N El Centro Avenue Los Angeles (City), CA 90038

    • Price: $2,580,000
    • Status: Active
    • ID#: 18332432
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    8,470
    SQFT
    $305
    $/SQFT
    1924
    Built
    Neighborhood:
    C20 - Hollywood
    County:
    Los Angeles
    Area:
    C20 - Hollywood
    Property Description
    972 North El Centro Avenue is a twelve-unit apartment building located in the heart of Los Angeles' Hollywood neighborhood. As one of Los Angeles' densely populated neighborhoods, this submarket's popularity has grown significantly over the recent years. The charming 1924 building consists of twelve (12) large one-bedroom/one-bathroom units, approximately 700 square feet, and is conveniently separately metered for gas and electric. Along with dual entrances and individual water heaters in each unit, the corner-lot property has been well-maintained throughout and with two units being delivered vacant, new ownership will have the opportunity to renovate and achieve additional rental premiums immediately. The property offers two (2) on-site parking spaces (buyer to verify if parking spaces are permitted.) This is a true value-add opportunity for an investor to acquire with significant rental upside in one of the nation's most desirable and thriving neighborhoods.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features Uncovered Parking YN Yes

    Interior Features

    Laundry Features See Remarks

    Property Features

    Cap Rate 4.23 Gross Multiplier 14.77 Gross Operating Income 164315.00 Laundry YN Yes Net Operating Income 109126.00 Special Listing Conditions Standard Tax Year 2018 Taxes Percent 1.19 Total Actual Rent 174636.00 Total Expenses 60271.00 Zoning R3-1Xl

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-06-25T00:27:11.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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