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Hollywood Bungalow Compound on 16,874 SF Lot 1908 Hillcrest Rd

6 Unit Apartment Building $5,000,000 ($833,333/Unit) 4.23% Cap Rate Los Angeles, CA 90068

Investment Highlights

  • Zen-like gated community featuring (3) Craftsman & Victorian duplex bungalows nestled in the foothills of the Hollywood Hills
  • Each bungalow reside among a lush garden courtyard, as well as a large deck with a sauna and cold shower
  • A remodel of each unit was completed several years ago with strict attention to retaining the authentic integrity and character of each bungalow
  • 16,874 SF expansive resort-like lot features manicured gardens, lush foliage, tall mature trees, and tropical flora/flauna
  • Craftsman & Victorian-style architecture include cathedral-style windows, elaborate moldings, exposed beams, ornate ceilings, and fireplaces
  • The Highland Estates is a part of the Golden Era Collection, four impeccably restored multifamily complexes in prime Los Angeles locations

Executive Summary

*** 3rd Price Reduction - Reduced $850,000 from the original listed price *** The Highland Estates is a one-of-a-kind Zen-like gated community featuring (3) Craftsman and Victorian duplex bungalows, consisting of 6 units, all nestled in the foothills of the Hollywood Hills yet offering the convenience of a central Hollywood location. Built between 1912 and 1915 this classic bungalow community is early Hollywood living at its best. Each Craftsman and Victorian bungalow exude outstanding Golden Era architecture and reside among a lush garden community courtyard, with a large deck, sauna and cold shower. Patios are nestled among tropical flora and fauna. The 16,874 SF expansive resort-like lot features private and perfectly manicured gardens, lush foliage, and tall mature trees. Each bright and spacious unit with cathedral-style windows features hardwood floors, elaborate moldings, exposed beams, ornate ceilings, and a fireplace. A remodel of each unit was completed several years ago with strict attention to retaining the authentic integrity and character of each bungalow. Modern updates include central air, heating, washer and dryer, and new kitchen appliances. The Highland Estates is a part of the Golden Era Collection, four impeccably restored multifamily complexes in prime Los Angeles locations. Please contact Kenny Stevens and Alyson Richards for more information.

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price $5,000,000
Price Per Unit $833,333
Sale Type Investment
Cap Rate 4.23%
Gross Rent Multiplier 15.13
No. Units 6
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.39 AC
Building Size 6,988 SF
Average Occupancy 83%
No. Stories 2
Year Built 1912
Parking Ratio 0.72/1,000 SF

Unit Amenities

  • Fireplace
  • Washer/Dryer
  • Tile Floors
  • Crown Molding
  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Stainless Steel Appliances
  • Range
  • Breakfast Nook
  • Built-In Bookshelves
  • Dining Room

Site Amenities

  • Courtyard
  • Sauna
  • Security System
  • Zen Garden

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
3+3 1 $6,500 -
3+1 1 $5,595 -
2+2 3 $4,498 -
Studios 1 $1,456 -
Walk Score ®
Walker's Paradise (95)
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 LAR2 (Neighborhood Commercial)
LAR2 (Neighborhood Commercial)
  • Listing ID: 30939664

  • Date on Market: 2/12/2024

  • Last Updated:

  • Address: 1908 Hillcrest Rd, Los Angeles, CA 90068

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