Luxury Hollywood 2024 Fourplex | 5.40% Cap! | 1223 N June St
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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.
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 | Property Subtype | Apartment |
Price Per Unit | $923,750 | Apartment Style | Mid Rise |
Sale Type | Investment | Building Class | B |
Cap Rate | 5.40% | Lot Size | 0.12 AC |
Sale Conditions | Build to Suit | Building Size | 6,329 SF |
Gross Rent Multiplier | 63 | Average Occupancy | 50% |
No. Units | 4 | No. Stories | 3 |
Property Type | Multifamily | Year Built | 2024 |
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 |
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Walk Score ®
Walker's Paradise (94)
Bike Score ®
Very Bikeable (75)
zoning
Zoning Code | LARD1.5 |
LARD1.5 |
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Luxury Hollywood 2024 Fourplex | 5.40% Cap! | 1223 N June St
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