Description

A rare investment opportunity in the highly sought after East Hollywood submarket of Los Angeles. The property consists of 12 well-maintained 1 bedroom 1 bathroom units spread across five detached buildings, all featuring upgraded roofs and sewer lines. Situated on approximately 10,779 square feet of gated land, the property showcases classic Spanish style bungalow architecture centered around a charming landscaped courtyard. The location is exceptional, in an Opportunity Zone, and a close distance to historic Sunset Boulevard, LA City College, and the Santa Monica Vermont Metro Station. Residents enjoy close proximity to Silver Lake and the vibrant retail, dining, and entertainment scene at Sunset Junction. Nearby favorites include Erewhon, Intelligentsia, The Black Cat, La Colombe Roasters, and many more. With convenient access to Downtown Los Angeles and major Hollywood employment hubs, the area is highly attractive to young professionals. Below market rents combined with substantial value add potential present an exceptional opportunity for investors to capture nearly 90% rental upside, with an attractive current CAP of over 5.5%.