Description

$200k PRICE REUDCTION! MOTIVATED SELLER - 9 units for sale - 6 units NON-LA RENT CONTOL - Increase 8% immediately 10.9GRM 6.4 Cap Rate 9 units total - Hollywood Hills - Quiet street, up market neighborhood - 6 units not subject to city of LA Rent Control. 2 buildings totaling +/- 8,632 sq ft. Lot zoned R3/TOC Tier 3 - +/- 10,222 sq ft - room for ADU's. Secure nine-unit apartment complex in Hollywood Hills. Safe, quiet street; up market tenants. Excellent condition, beautifully maintained, highly secure w/gated entry. 14 covered parking spaces behind automatic gate (one for each bedroom). Attractive unit mix: (1) three bed two bath unit, (2) two bed two bath units and (6) one bed one bath units in two structures. 2 Buildings-one built 1912 (3bd 2bth, (2) 1bdrms (one non-conforming)) the other built 2008 ((2) two bd two bth, (4) 1 bdrm). 2008 building has elevator, 5.7 megawatt solar system, and six units all exempt from LA RSO; each unit has central air, balcony, hardwood floors and washer/dryer in unit. Room for ADU's and/or additional units in R3/TOC Tier 3 zoning on large 10,222 sq ft lot. Buyer to verify all property details. Three bed unit (owners') and (2) one bed units will be delivered vacant (calculated at accurate market rent in investment analysis/setup).Must see - PLEASE DO NOT ENTER PROPERTY W/OUT BROKER OR DISTURB TENANTS.