Property Detail

Description

Rare opportunity to secure a well-maintained Hollywood triplex with immediate upside and strong cash flow potential. Fully stabilized, the property can generate approximately $90,000 per year in gross rental income, yielding an estimated net operating income of $54,000 annually and a projected 4.5% cap rate at the $1.2 million purchase price. Current income totals $4,400 per month from two occupied units: a spacious 3-bedroom, 2-bath unit renting at $2,900/month and a 1-bedroom, 1-bath unit renting at $1,500/month. The third unit, delivered vacant, is a bright 1-bedroom, 1-bath with a private balcony, ready to lease at market rate of approximately $2,500/month, immediately boosting total monthly income to $7,500. Operating expenses are just $3,000 per month ($36,000 annually), supporting strong cash flow and a clear path to increase income by over 50% as existing below-market rents are adjusted over time. Zoned RD1.5XL, the property allows 5 units by right or up to 8 units with TOC Tier 2 bonuses, offering exceptional redevelopment potential in a rapidly transforming neighborhood. A similar property next door was recently redeveloped into 8+ units, highlighting the area's upside for developers. The building has been well maintained and features on-site parking and a private yard. The back unit, built in 2011, is not subject to LA's rent control ordinance (buyer to verify), providing additional long-term flexibility. Located near Paramount Studios and Hollywood's major employers, this property is an ideal opportunity for investors seeking immediate income with substantial growth potential. Buyers to independently verify all information.