5 UNITS VACANT | Great Unit Mix & Upside! | 1252 N Mansfield Ave
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5 UNITS VACANT | Great Unit Mix & Upside! 1252 N Mansfield Ave
8 Unit Apartment Building $2,620,000 ($327,500/Unit) 4.69% Cap Rate Los Angeles, CA 90038
Investment Highlights
- INCREDIBLE VALUE-ADD OPPORTUNITY – Tremendous rental upside with 5 units delivered vacant | 4.69% CAP & 13.29 GRM using market rents for vacancies
- AMPLE PARKING – 6 covered parking spaces (with potential for 7)
- EXCELLENT LOCATION – The property is located in the heart of Hollywood and allows easy access to major thoroughfares and entertainment hubs
- GREAT UNIT MIX – The property features a desirable unit mix of 5 (1 Bed + 1 Bath) units & 3 (2 Bed + 1 Bath) units
- ON-SITE LAUNDRY – Provides additional income for a landlord and convenient for the tenants
- SEPARATELY METERED FOR GAS & ELECTRIC
Executive Summary
5 UNITS DELIVERED VACANT! Prime Net Lease is pleased to present an exceptional eight-unit multifamily investment opportunity in the heart of prime Hollywood. Nestled in one of the most sought-after markets in Los Angeles, this property offers unparalleled access to major thoroughfares and is just minutes from Hollywood’s world-famous entertainment, shopping, and dining districts. The property also boasts a WalkScore of 96, making it a walkers paradise.
This well-maintained building, constructed in 1956, spans 6,750 square feet of living space on a 7,489 square foot LAR3-zoned lot. The property features a strong unit mix, including five (5) one-bedroom, one-bath units and three (3) two-bedroom, one-bath units, making it an appealing choice for a variety of tenants. Adding to its value, six of the units come with covered parking spaces in the rear (with potential to add a 7th spot).
For investors, this property represents a significant value-add opportunity. With five of the eight units to be delivered vacant, a savvy investor has immediate potential to renovate and capture higher market rents. Additionally, the property includes an on-site laundry room, providing convenient amenities for tenants while generating extra income. Separately metered gas and electric systems help keep operating costs low, enhancing profitability.
Owned and meticulously maintained by the same family for over 60 years, 1252 N Mansfield is attractively priced at a 4.69% CAP rate and 13.29 GRM (using pro forma rents for the vacancies), making it an enticing opportunity for value-driven investors seeking strong returns.
With its prime location, desirable unit mix, and upside potential, this property is poised for substantial rent growth, offering a lucrative investment in Hollywood’s flourishing rental market.
*CAP rate, GRM and NOI are based on pro forma rents for vacant units post-renovation.*
This well-maintained building, constructed in 1956, spans 6,750 square feet of living space on a 7,489 square foot LAR3-zoned lot. The property features a strong unit mix, including five (5) one-bedroom, one-bath units and three (3) two-bedroom, one-bath units, making it an appealing choice for a variety of tenants. Adding to its value, six of the units come with covered parking spaces in the rear (with potential to add a 7th spot).
For investors, this property represents a significant value-add opportunity. With five of the eight units to be delivered vacant, a savvy investor has immediate potential to renovate and capture higher market rents. Additionally, the property includes an on-site laundry room, providing convenient amenities for tenants while generating extra income. Separately metered gas and electric systems help keep operating costs low, enhancing profitability.
Owned and meticulously maintained by the same family for over 60 years, 1252 N Mansfield is attractively priced at a 4.69% CAP rate and 13.29 GRM (using pro forma rents for the vacancies), making it an enticing opportunity for value-driven investors seeking strong returns.
With its prime location, desirable unit mix, and upside potential, this property is poised for substantial rent growth, offering a lucrative investment in Hollywood’s flourishing rental market.
*CAP rate, GRM and NOI are based on pro forma rents for vacant units post-renovation.*
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$195,300
|
$28.93
|
| Other Income |
$1,800
|
$0.27
|
| Vacancy Loss |
$5,859
|
$0.87
|
| Effective Gross Income |
$191,241
|
$28.33
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$68,435
|
$10.14
|
| Net Operating Income |
$122,806
|
$18.19
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $195,300 |
| Annual Per SF | $28.93 |
| Other Income | |
|---|---|
| Annual | $1,800 |
| Annual Per SF | $0.27 |
| Vacancy Loss | |
|---|---|
| Annual | $5,859 |
| Annual Per SF | $0.87 |
| Effective Gross Income | |
|---|---|
| Annual | $191,241 |
| Annual Per SF | $28.33 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $68,435 |
| Annual Per SF | $10.14 |
| Net Operating Income | |
|---|---|
| Annual | $122,806 |
| Annual Per SF | $18.19 |
Property Facts
| Price | $2,620,000 | Apartment Style | Low Rise |
| Price Per Unit | $327,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.69% | Building Size | 6,750 SF |
| Sale Conditions | High Vacancy Property | Average Occupancy | 38% |
| Gross Rent Multiplier | 13.29 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1956 |
| Property Type | Multifamily | Parking Ratio | 0.89/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,620,000 |
| Price Per Unit | $327,500 |
| Sale Type | Investment |
| Cap Rate | 4.69% |
| Sale Conditions | High Vacancy Property |
| Gross Rent Multiplier | 13.29 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,750 SF |
| Average Occupancy | 38% |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 0.89/1,000 SF |
Unit Amenities
- Microwave
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $2,150 | - |
| 2+1 | 3 | $2,650 | - |
1 of 1
Walk Score ®
Walker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 5532-007-011 | Improvements Assessment | $155,490 |
| Land Assessment | $60,060 | Total Assessment | $215,550 |
PROPERTY TAXES
Parcel Number
5532-007-011
Land Assessment
$60,060
Improvements Assessment
$155,490
Total Assessment
$215,550
zoning
| Zoning Code | LAR3 (Multi-family zoning for up to 10 units.) |
| LAR3 (Multi-family zoning for up to 10 units.) |
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Paul Matusik -
Adrian Stepien -
Michael Matusik -
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5 UNITS VACANT | Great Unit Mix & Upside! | 1252 N Mansfield Ave
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