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5425 Santa Monica Blvd

Los Angeles, CA 90029
  • $8,300,000
  • STATUS: Active
  • ON SITE: 58 Days
  • MLS #: 21-791998
UPDATED: 51 min ago
$8,300,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 27,192
    SQFT
  • $305
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1925
County:
Area:

School Ratings & Info

Description

5425 Santa Monica Boulevard in Los Angeles, CA 90029. Built in 1925, this prime mixed-use opportunity consists of 30 apartment units and 6,500 SF of commercial space located in the Hollywood Studio District of Los Angeles. This four-story building features 24 singles, 6 one-bedrooms, and 4 retail or office spaces.This offering presents the investor the opportunity to purchase a well-maintained property with stable cash flow of 5.49% on current income. The apartment units offer over 14% rental upside as units turn along with rental increases throughout the leases of the commercial tenants. Additionally, an investor will have the opportunity to increase cash flow with the addition of signage on the east side of the property. The Hollywood market remains one of the most desirable submarkets for living and working. With over 100,000 people living within one-mile and an average home value of over $840,000 within a three-mile radius, the demand for apartment units continues to increase year-over-year. The subject property has a walk score of 92 and offers direct access to the 101 Freeway and a quick walk to to both the Western/Hollywood Blvd Station and the Vermont/Santa Monica Blvd Station.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-03T11:42:37.08. 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/122111882
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5425 Santa Monica Blvd Los Angeles, CA 90029

  • Price: $8,300,000
  • Status: Active
  • On Site: 58 Days
  • Updated: 51 min ago
  • MLS #: 21-791998
0
Beds
0
Baths
0
½ Baths
0.16
Acres
27,192
SQFT
$305
$/SQFT
1925
Built
Neighborhood:
Hollywood
County:
Los Angeles
Area:
Hollywood
Property Description
5425 Santa Monica Boulevard in Los Angeles, CA 90029. Built in 1925, this prime mixed-use opportunity consists of 30 apartment units and 6,500 SF of commercial space located in the Hollywood Studio District of Los Angeles. This four-story building features 24 singles, 6 one-bedrooms, and 4 retail or office spaces.This offering presents the investor the opportunity to purchase a well-maintained property with stable cash flow of 5.49% on current income. The apartment units offer over 14% rental upside as units turn along with rental increases throughout the leases of the commercial tenants. Additionally, an investor will have the opportunity to increase cash flow with the addition of signage on the east side of the property. The Hollywood market remains one of the most desirable submarkets for living and working. With over 100,000 people living within one-mile and an average home value of over $840,000 within a three-mile radius, the demand for apartment units continues to increase year-over-year. The subject property has a walk score of 92 and offers direct access to the 101 Freeway and a quick walk to to both the Western/Hollywood Blvd Station and the Vermont/Santa Monica Blvd Station.
Exterior Features

Lot Size Area 6931 Other Structures None Parking Garage None Total Parking 0

Interior Features

Baths Total 0.00 Cooling None Equipment Ceiling FanRange/OvenRefrigerator Flooring LaminateHardwood Heating Natural Gas

Property Features

Assessed Total Value 3152751 Gross Income 696280 Gross Operating Income 668429 Like Units1 24 Like Units2 6 Like Units3 4 Net Operating Income 455452.00 Number Of Buildings 1 Number Of Units 34 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Tenant Pays Electricity Total Annual Expense 212977 Type Of Units Apts And Com Year Built Source Vendor Enhanced Zoning Lac4

Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-03T11:42:37.08. 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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