$ 1,895,000
-
$1,895,000
Price -
4
Bed -
8
Bath -
4,220
SqFt
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About the Listing CLW-X82397 - CLW-C120232,CLW-C131070
Attractive 8-unit Hollywood apartment asset currently operating at a strong 6.1% cap rate, offering compelling in-place cash flow with multiple paths to further NOI growth. Most notably, one legacy one-bedroom tenancy is currently paying just $477/month versus an estimated market rent of approximately $2,095/month. Upon lawful turnover and re-leasing at market, this single unit alone would increase the property's cap rate to approximately 7.0%. Ideally located just north of Melrose Avenue in a high-demand, walkable rental pocket near major employment centers, hospitals, transit, dining, and significant ongoing development. The property has been well maintained and recently improved with a new roof and newly remodeled common areas, reducing near-term capital requirements while enhancing the overall tenant experience and curb appeal. Additional upside exists through parking and ancillary income. Several tenants pay separate parking fees that are not subject to rent control, while the garages are currently underutilized, creating further opportunity to increase NOI. The property also offers meaningful development upside. ADU plans were previously RTI and are designed above the existing parking area, allowing an additional unit to be constructed while maintaining parking and potentially adding nearly $2,000/month in rental income. A large existing basement may provide an additional future conversion opportunity, subject to buyer investigation and applicable approvals. A rare opportunity to acquire a well-maintained Hollywood asset with a strong 6.1% going-in yield, a clear path to approximately 7.0% from a single unit turnover, limited near-term capital needs, and multiple additional value-add opportunities.
Listing Highlights
Interior Details
- Bedrooms: 4
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: LAR1
- Roof:
- Others: 2+ Total Units,Has ADU
- Sewer:
- Parking Features: Private
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5535027004
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
852 N Oxford Ave Los Angeles, CA 90029
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