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1862 N Van Ness Avenue

Los Angeles (City), CA 90028
  • $2,075,000
  • STATUS: Active Under Contract
  • ON SITE: 130 Days
  • MLS #: 21781904
Under Contract
UPDATED: 40 min ago
$2,075,000
  • 0
    BEDS
  • 0.23
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1921
County:

School Ratings & Info

Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)


Description

1862 Van Ness Avenue, in Hollywood, CA. Built in 1921, this unique property made up of six units will be delivered with two units vacant (two one-bedrooms). This is an ideal investment opportunity located in a prime area of Hollywood with strong cashflow at a 4.66% CAP rate on current income with additional 19% rental upside.The building features a unit mix made up of one-bedrooms and two-bedrooms, each with spacious layouts. The property comes with 3 garage spaces as well as four open spaces in the back of the building for a total of seven parking spaces. There is no soft story retrofit required. The units are separately metered for gas & electric, have individual water heaters as well as central air and ceiling fans throughout. Furthermore, there is in-unit laundry in three of the units and the two-bedrooms feature large private balconies. This exclusive pocket of Hollywood remains one of the most desirable addresses for both living and working. With the median household income continuing to rise and average home value of over $1 million within three miles, the demand for apartment units increases year-over-year exemplified with surrounding new residential and office developments as well as major employers established in the submarket. 1862 Van Ness Avenue is ideally situated to benefit from this economic growth as thousands of new high-paying jobs are within walking distance. The subject property has a walk score of 86 with unparalleled access to nightlife, dining, education and employment opportunities.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-01-18T08:23:25.297. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or ERA CARLILE Realty Group. Licensed in the State of California, USA.
www.carlilerealty.com/homes/121282716
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1862 N Van Ness Avenue Los Angeles (City), CA 90028

  • Price: $2,075,000
  • Status: Active Under Contract
  • On Site: 130 Days
  • Updated: 40 min ago
  • MLS #: 21781904
0
Beds
0
Baths
0
½ Baths
0.23
Acres
1921
Built
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
1862 Van Ness Avenue, in Hollywood, CA. Built in 1921, this unique property made up of six units will be delivered with two units vacant (two one-bedrooms). This is an ideal investment opportunity located in a prime area of Hollywood with strong cashflow at a 4.66% CAP rate on current income with additional 19% rental upside.The building features a unit mix made up of one-bedrooms and two-bedrooms, each with spacious layouts. The property comes with 3 garage spaces as well as four open spaces in the back of the building for a total of seven parking spaces. There is no soft story retrofit required. The units are separately metered for gas & electric, have individual water heaters as well as central air and ceiling fans throughout. Furthermore, there is in-unit laundry in three of the units and the two-bedrooms feature large private balconies. This exclusive pocket of Hollywood remains one of the most desirable addresses for both living and working. With the median household income continuing to rise and average home value of over $1 million within three miles, the demand for apartment units increases year-over-year exemplified with surrounding new residential and office developments as well as major employers established in the submarket. 1862 Van Ness Avenue is ideally situated to benefit from this economic growth as thousands of new high-paying jobs are within walking distance. The subject property has a walk score of 86 with unparalleled access to nightlife, dining, education and employment opportunities.
Exterior Features

Parking Features Gated

Interior Features

Appliances MicrowaveRefrigerator Flooring LaminateTileWood Heating Natural Gas Heating YN Yes Interior Features Ceiling Fan(S)

Property Features

Gross Income 147804 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 99632 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 17 Zoning Rd1.5-1Xl



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-01-18T08:23:25.297. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or ERA CARLILE Realty Group. Licensed in the State of California, USA.
 
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ERA CARLILE Realty Group
1860 Howe Avenue, Suite 100
Sacramento CA, 95825
Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)