1770 El Cerrito Pl, Los Angeles, Los Angeles County, CA, 90028 Los Angeles CA US
Property Details
Bedrooms
17
Bathrooms
4
Neighborhood
Hollywood
Property Type
MultiFamily
Description
HUGE $200K Price Reduction! 16-unit building with 9 vacancies in the Prime Hollywood area priced at only $299,687/door in an opportunity zone. Fully Approved RTI plans to add 4 Attached ADU's to improve the numbers to $239,000/door. This property cash flows at an amazing 6% Cap Rate and 12 GRM on existing post renovations with an incredible upside to 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 achieve market rents. (Most/All of the rough construction has been done). Great Amenities including Pool, Laundry Rooms, Carport Garages & individual meters for Gas & Electricity. Situated in the Heart of Hollywood, steps away from Runyan Canyon, Magic Castle, Yamashiro, and Hollywood Bowl! All soft story retrofitting has been completed, roof has been updated & their is potential to create and add a rooftop lounge area to maximize rents. Find out more about this property. Request details here
Location
Address
1770 El Cerrito Place, Los Angeles, California 90028, United States
City
Los Angeles
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