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    1639 N Harvard Boulevard

    Los Angeles (City), CA 90027
    • $1,700,000
    • STATUS: Active
    • ON SITE: 22 days
    • ID#: IN20184350
    UPDATED: 28 min ago
    $1,700,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,241
      SQFT
    • $324
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1931
    County:

    School Ratings & Info

    Description

    LOCATION! Great Opportunity to own a Bread and Butter 5 Unit Income Property for the price of a Single Family home in the heart of Hollywood! Area undergoing a major revitalization filled with exciting new developments. Highest CAP rate in the area - just under 5%! At least 45% in rental upside in this value add opportunity! Original 1930's vintage charm with hard-wood flooring, French doors, and exposed wood ceiling beams. Front building hosts 3,687 sq ft with 3 townhome style (bi-level) units all 2 bedroom and 1.5 baths. Rear structure is a duplex (1,554 sq ft) - each unit 2 bedrooms / 1 bath. Property zoned RD1.5 for the perfect development opportunity! TOC Tier 3 - allows 70% density bonus. Conveniently located within walking distance to shopping centers, grocery stores, restaurants, coffee shops, banks, parks, gas stations, Metro Line, schools, museums. Easy access to major freeways, less than 3.5 miles to Griffith Observatory and only 1 mile away from the Hollywood Walk of Fame. Well maintained property with low maintenance and long-term tenants. Need to complete a 1031 exchange? Look no further. Start collecting income right away! Great for seasoned investor or first time buyer. Seller will consider carrying 1st! Property will be delivered occupied with existing tenants. PLEASE DO NOT WALK ON PROPERTY OR DISTURB TENANTS! Listing info deemed reliable, but not guaranteed. No warranties expressed or implied. Buyer and/or Buyer+GGs agent to satisfy themselves on all aspects.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-27T18:26:34.257. 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 American Real Estate List & Sell. Licensed in the State of California, USA.

    www.americanrealestatehomes.com/homes/109735094
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    1639 N Harvard Boulevard Los Angeles (City), CA 90027

    • Price: $1,700,000
    • Status: Active
    • Updated: 28 min ago
    • ID#: IN20184350
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    5,241
    SQFT
    $324
    $/SQFT
    1931
    Built
    Neighborhood:
    C20 - Hollywood
    County:
    Los Angeles
    Area:
    C20 - Hollywood
    Property Description
    LOCATION! Great Opportunity to own a Bread and Butter 5 Unit Income Property for the price of a Single Family home in the heart of Hollywood! Area undergoing a major revitalization filled with exciting new developments. Highest CAP rate in the area - just under 5%! At least 45% in rental upside in this value add opportunity! Original 1930's vintage charm with hard-wood flooring, French doors, and exposed wood ceiling beams. Front building hosts 3,687 sq ft with 3 townhome style (bi-level) units all 2 bedroom and 1.5 baths. Rear structure is a duplex (1,554 sq ft) - each unit 2 bedrooms / 1 bath. Property zoned RD1.5 for the perfect development opportunity! TOC Tier 3 - allows 70% density bonus. Conveniently located within walking distance to shopping centers, grocery stores, restaurants, coffee shops, banks, parks, gas stations, Metro Line, schools, museums. Easy access to major freeways, less than 3.5 miles to Griffith Observatory and only 1 mile away from the Hollywood Walk of Fame. Well maintained property with low maintenance and long-term tenants. Need to complete a 1031 exchange? Look no further. Start collecting income right away! Great for seasoned investor or first time buyer. Seller will consider carrying 1st! Property will be delivered occupied with existing tenants. PLEASE DO NOT WALK ON PROPERTY OR DISTURB TENANTS! Listing info deemed reliable, but not guaranteed. No warranties expressed or implied. Buyer and/or Buyer+GGs agent to satisfy themselves on all aspects.
    Exterior Features

    Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 5.00 Uncovered Spaces 5.00

    Interior Features

    Condo Area Units Square Feet Laundry Features Inside

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Building Status Existing Cap Rate 4.90 Country Us Electric Expense 1200.00 Gross Scheduled Income 112590.00 Insurance Expense 1800.00 Investment Property YN Yes Land Lease YN No Laundry YN Yes Leasable Area Units Square Feet Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 82940.00 Number Of Units Leased 5 Occupancy Occupied Operating Expense 29650.00 Other Expense 600.00 Professional Management Expense 0.00 Property Sub Type Multi Family Special Listing Conditions Standard Tax Annual Amount 21250.00 Tax Rate 1.25 Tax Year 2021 Total Expenses 29650.00 Total Monthly Rent 9383 Trash Expense 0.00 Water Sewer Expense 4800.00 Water Source Private Year Built Source Public Records

    Listing provided courtesy of Bryan Castillo of Castillo Realty Group, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-27T18:26:34.257. 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 American Real Estate List & Sell. Licensed in the State of California, USA.

     
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