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The Copa Apartments Hollywood CA 1844 N Bronson Ave

26 Unit Apartment Building $9,999,000 ($384,577/Unit) 3.95% Cap Rate Los Angeles, CA 90028

Investment Highlights

  • Best location in Hollywood, Franklin Village .... High Demand for Newley Designed Condominiums

Executive Summary

Visionary Investors and Developers,
As the property manager of 'The Copa', I am excited to present this intriguing investment opportunity in the heart of Hollywood CA. 'The Copa' is a classic two-story 26-unit apartment complex, situated at 1844 N. Bronson Ave, Los Angeles, CA 90028.
Hollywood is currently undergoing a captivating transformation, with new construction trends and high-rise buildings on the rise. This has made investing in the area increasingly attractive, as the demand for apartments is soaring while the supply remains limited. Hollywood presents the perfect environment for lucrative investments.
For the past 40 years, the current owners have been incredibly happy and blessed with 'The Copa.' However, they have now decided to move on and pass the torch to someone who can take 'The Copa' to its next phase of growth.
We firmly believe that maximizing the construction rights will unlock the true potential and value of this land. With the right vision, 'The Copa' has the potential to become an iconic architectural masterpiece while generating substantial returns for all parties involved. This presents a unique opportunity for investors interested in becoming part of Hollywood's thriving community.
Located at the intersection of N. Bronson and Franklin Ave, also known as 'Franklin Village,' 'The Copa' is not just ideally situated, but it offers a unique community filled with creative individuals who have shaped the local culture into something intelligent, diverse, and inspiring.
This prime location places 'The Copa' amidst all the major happenings in Hollywood, while still providing residents with peace, privacy, and convenience. Within walking distance, there is a vibrant neighborhood with trendy, artsy establishments, as well as renowned landmarks such as Beachwood Canyon, Netflix headquarters, Capitol Records, Paramount Studios, The Walk of Fame, and iconic entertainment theaters. Hiking trails leading to the famous Hollywood Sign and Griffith Observatory are also nearby. Transportation options are easily accessible from this central spot, including mass transit options and major freeways.
Spanning across a 0.37-acre lot, 'The Copa' offers amenities such as a pool and parking facilities. Currently listed off-market at an asking price of $10 million dollars (with a multiplier of X20 based on the current rent-roll), this property presents an excellent opportunity for profitable investment.
We have reached out to you because of your esteemed reputation as contractors and investors within the area. Your knowledge of the local real estate market, its data, and its potential make your perspective highly valued. We invite you and your esteemed investors to consider this interesting business opportunity that lies before you.
While most real estate investors tend to adopt a more conservative approach, we believe there are visionary individuals who possess a deep understanding of the potential inherent in this deal. These individuals have the creative approach, special expertise, and resources to develop a brilliant business concept that maximizes the potential of 'The Copa' and ensures its success.
If you are interested in exploring this investment opportunity further or require any additional information, please do not hesitate to reach out. We eagerly await your response and look forward to discussing this exciting opportunity with you.
Best Regards,
Dalia Ganzel
‘The Copa’ Property Manager
Mobile: +1-310-806-1784
Email: leading.investments888@gmail.com
https://www.youtube.com/results?search_query=the+copa+apartments+los+angeles

Data Room Click Here to Access

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income $5,254,744 $317.35
Other Income $4,000 $0.24
Vacancy Loss $5,000 $0.30
Effective Gross Income $5,253,744 $317.29
Taxes $2,080 $0.13
Operating Expenses $121,000 $7.31
Total Expenses $123,080 $7.43
Net Operating Income $5,130,664 $309.86

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual $5,254,744
Annual Per SF $317.35
Other Income
Annual $4,000
Annual Per SF $0.24
Vacancy Loss
Annual $5,000
Annual Per SF $0.30
Effective Gross Income
Annual $5,253,744
Annual Per SF $317.29
Taxes
Annual $2,080
Annual Per SF $0.13
Operating Expenses
Annual $121,000
Annual Per SF $7.31
Total Expenses
Annual $123,080
Annual Per SF $7.43
Net Operating Income
Annual $5,130,664
Annual Per SF $309.86

Property Facts

Price $9,999,000
Price Per Unit $384,577
Sale Type Investment
Cap Rate 3.95%
Sale Conditions Build to Suit
No. Units 26
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.37 AC
Building Size 16,558 SF
Average Occupancy 96%
No. Stories 2
Year Built 1956
Parking Ratio 1.9/1,000 SF

Unit Amenities

  • Balcony
  • Cable Ready
  • Fireplace
  • Microwave
  • Granite Countertops
  • High Speed Internet Access
  • Refrigerator
  • Oven
  • Range
  • Deck

Site Amenities

  • Laundry Facilities
  • Sundeck

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 19 - 500
1+1 7 - 700 - 800
Walk Score ®
Very Walkable (87)
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.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
5586-028-009
Land Assessment
$394,072
Improvements Assessment
$1,073,408
Total Assessment
$1,467,480
Annual Taxes
$2,080 ($0.13/SF)
Tax Year
2024 Payable 2024

zoning

Zoning Code LAR3 (https://case.planning.lacounty.gov/view/zone_r3)
LAR3 (https://case.planning.lacounty.gov/view/zone_r3)
  • Listing ID: 31030263

  • Date on Market: 2/23/2024

  • Last Updated:

  • Address: 1844 N Bronson Ave, Los Angeles, CA 90028

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