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Luxury Hollywood 2024 Fourplex | 5.40% Cap! 1223 N June St

4 Unit Apartment Building $3,695,000 ($923,750/Unit) 5.40% Cap Rate Los Angeles, CA 90038

Investment Highlights

  • A+++ Hollywood location. Super rare!
  • Rooftop decks, sleek cabinetry, huge windows, and premium finishes!
  • Located minutes from West Hollywood luxury shops & restaurants!
  • Excellent cap rate! 2 unit currently rented at $6,295 & $3,650!
  • DREAM owner occupier opportunity! Enjoy a luxury home while tenants pay the mortgage!

Executive Summary

1223 N June St is an ultra-premium 50% LEASED 2024 fourplex located in A+++ Hollywood proper, just steps from the iconic Hollywood Blvd! This fourplex is ready to close now: a dream come true for 1031 exchange buyers!
1223 N June St is made up of two large 4-bedroom tri-level townhome style units and two equally as impressive 3-bedroom tri-level townhome style units, both boasting massive rooftop decks (two units currently leased at $6,295 for the 4b/4.5b & $3,650 for the 3b/2b)! The property features 8 parking spots comprised of 4 garage spaces, 1 exterior space and 2 bonus exterior spaces. The excellent location, paired with the upscale modern units, and sprawling rooftop deck views of the city will make for quick, easy rentals. These premium townhomes feature unbeatable floorplans with extremely large, tenant friendly kitchens and living rooms. You will find noteworthy features including, but not limited to designer tiles, all kitchen appliances included, MASSIVE rooftop decks with Hollywood Sign views, modern glossy cabinets, high ceilings, huge closets, balconies off the living space and bedrooms, countless windows everywhere you look allowing for maximum light, natural wood waterproof vinyl, and more!
In addition to the high return, buyers will enjoy other perks including tons of parking, tastefully designed drought tolerant landscaping, a 1-year builder’s warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas, water & electric, and extreme desirability amongst renters for years to come.

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income $264,000 $41.71
Other Income - -
Vacancy Loss $10,560 $1.67
Effective Gross Income $253,440 $40.04
Taxes $44,318 $7.00
Operating Expenses $9,496 $1.50
Total Expenses $53,814 $8.50
Net Operating Income $199,626 $31.54

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual $264,000
Annual Per SF $41.71
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual $10,560
Annual Per SF $1.67
Effective Gross Income
Annual $253,440
Annual Per SF $40.04
Taxes
Annual $44,318
Annual Per SF $7.00
Operating Expenses
Annual $9,496
Annual Per SF $1.50
Total Expenses
Annual $53,814
Annual Per SF $8.50
Net Operating Income
Annual $199,626
Annual Per SF $31.54

Property Facts

Price $3,695,000
Price Per Unit $923,750
Sale Type Investment
Cap Rate 5.40%
Sale Conditions Build to Suit
Gross Rent Multiplier 63
No. Units 4
Property Type Multifamily
Property Subtype Apartment
Apartment Style Mid Rise
Building Class B
Lot Size 0.12 AC
Building Size 6,329 SF
Average Occupancy 50%
No. Stories 3
Year Built 2024

Unit Amenities

  • Air Conditioning
  • Balcony
  • Dishwasher
  • Disposal
  • Microwave
  • Washer/Dryer
  • Washer/Dryer Hookup
  • Heating
  • Eat-in Kitchen
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Views
  • Walk-In Closets
  • Yard
  • Deck
  • Double Pane Windows
  • Freezer
  • Handrails
  • Island Kitchen
  • Pantry

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
4+4.5 1 $6,295 1,859
4+4 1 $5,750 1,723
3+3.5 1 $5,200 1,652
3+2 1 $3,650 1,095
Walk Score ®
Walker's Paradise (94)
Bike Score ®
Very Bikeable (75)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

zoning

Zoning Code LARD1.5
LARD1.5
  • Listing ID: 32598214

  • Date on Market: 7/26/2024

  • Last Updated:

  • Address: 1223 N June St, Los Angeles, CA 90038

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