1770 El Cerrito Pl, Hollywood Vista, Los Angeles, CA 90028

Hollywood Vista, Los Angeles, CA 90028
Multi Family Townhouse


Bachir Oueida
  • Licensed Real Estate Salesperson
  • DRE #: 00936311
Source of Data:
Combined Los Angeles/Westside MLS
Combined Los Angeles/Westside MLS

Property Description

Huge 1.2M Price Reduction! 16 Unit building with 9 vacancies in the Prime Hollywood area priced at only 299k/door in an Opportunity Zone. Fully Approved RTI plans to add 4 Attached ADUs to improve the numbers to only 239k/door. This property cash flows at an amazing 6% Cap Rate and 12 GRM on existing after renovations with an incredible upside to an 8.4% Cap Rate and 9.1 GRM on proforma. All 9 vacant units are under renovation so buyers can complete them to their own taste and finishes and get top market rents (Most of the rough construction and heavy lifting have been done). Great amenities such as Pool, Laundry Room, and carport garages. Individually metered for Gas & Electricity. Situated in the Heart of Hollywood, steps away from RunyonCanyon, Magic Castle, Yamashiro, and Hollywood Bowl! The soft story has already been completed and the roof has been recently updated. Potential to create and add a rooftop to maximize rents and amenities.
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  • Interior
    10,166 Sq Ft.
  • Exterior
    .25 Acres
  • Property Type
    Multi Family Townhouse
  • Year Built
  • MLS/Listing ID
  • Days On Market
Listing Courtesy of Global Platinum Properties, Inc., Julio Ruiz - 01911261 - 818-524-0706 and Armin Soleimani - 01846872 - 310-666-2246