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1129 Lodi Pl

Los Angeles, CA 90038
  • $3,100,000
  • STATUS: Pending
  • ON SITE: 29 Days
  • MLS #: 24-391925
Pending
UPDATED: 34 min ago
$3,100,000
  • 10
    BEDS
  • 0.16
    ACRES
  • 12
    BATHS
  • 0
    1/2 BATHS
  • 5,212
    SQFT
  • $595
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1953
County:
Area:

School Ratings & Info

Description

Huge 700k Price Reduction! 8-unit building with 7 fully renovated units in Prime Hollywood cash flowing at an incredible Current Cap Rate of 6.1% and 11.9 GRM from day 1! The 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements (4 vacant). The unit mix provides unparalleled versatility, including 2 spacious (2bed/3bath) units ideal for families, as well as 6 modern (1bed/1bath) units perfect for individuals seeking comfort and style. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. On top of that, the major systems have been updated including electrical, plumbing, HVAC, etc. Furthermore, there's an additional upside to 6.9% Cap Rate and 10.7 GRM on proforma. The property is located in the heart of the Hollywood entertainment industry just minutes away from Netflix studios, Paramount Studios, and Netflix Corporate office. Located just steps away from the world-famous Sunset Blvd, the property offers close proximity to neighborhood attractions, restaurants, bars, and shops such as the Hollywood Walk of Fame, Highlight Room, TAO, Bar-Lis, Dream Hotel, Thompson Hotel, and many more popping up all around the area.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-06-13T17:43:56.257. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.deserthouseseekers.com/homes/150516111
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1129 Lodi Pl Los Angeles, CA 90038

  • Price: $3,100,000
  • Status: Pending
  • On Site: 29 Days
  • Updated: 34 min ago
  • MLS #: 24-391925
10
Beds
12
Baths
0
½ Baths
0.16
Acres
5,212
SQFT
$595
$/SQFT
1953
Built
Neighborhood:
Hollywood
County:
Los Angeles
Area:
Hollywood
Property Description
Huge 700k Price Reduction! 8-unit building with 7 fully renovated units in Prime Hollywood cash flowing at an incredible Current Cap Rate of 6.1% and 11.9 GRM from day 1! The 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements (4 vacant). The unit mix provides unparalleled versatility, including 2 spacious (2bed/3bath) units ideal for families, as well as 6 modern (1bed/1bath) units perfect for individuals seeking comfort and style. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. On top of that, the major systems have been updated including electrical, plumbing, HVAC, etc. Furthermore, there's an additional upside to 6.9% Cap Rate and 10.7 GRM on proforma. The property is located in the heart of the Hollywood entertainment industry just minutes away from Netflix studios, Paramount Studios, and Netflix Corporate office. Located just steps away from the world-famous Sunset Blvd, the property offers close proximity to neighborhood attractions, restaurants, bars, and shops such as the Hollywood Walk of Fame, Highlight Room, TAO, Bar-Lis, Dream Hotel, Thompson Hotel, and many more popping up all around the area.
Exterior Features

Levels Two Lot Size Area 6766 Other Structures None Parking Garage AssignedCarportTandem Total Parking 8

Interior Features

Cooling Air ConditioningMulti/Zone Equipment RefrigeratorRange/OvenOther Heating ZonedElectric Laundry In UnitInside

Property Features

Assessed Total Value 1401786 Disclosures None Gross Income 259979 Gross Operating Income 252180 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 189029.00 Number Of Buildings 2 Number Of Units 8 Sale Type Standard Source Living Area Owner Source Lot Size Area Owner Total Annual Expense 63151 Type Of Units Low Rise Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning LARD1.5

Listing provided courtesy of Armin Soleimani DRE#01846872 of Global Platinum Properties, Inc.: 424-394-1030.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-06-13T17:43:56.257. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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