Hollywood Bungalow Compound on 16,874 SF Lot | 1908 Hillcrest Rd
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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 | Apartment Style | Low Rise |
Price Per Unit | $833,333 | Building Class | C |
Sale Type | Investment | Lot Size | 0.39 AC |
Cap Rate | 4.23% | Building Size | 6,988 SF |
Gross Rent Multiplier | 15.13 | Average Occupancy | 83% |
No. Units | 6 | No. Stories | 2 |
Property Type | Multifamily | Year Built | 1912 |
Property Subtype | Apartment | Parking Ratio | 0.72/1,000 SF |
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)
zoning
Zoning Code | LAR2 (Neighborhood Commercial) |
LAR2 (Neighborhood Commercial) |
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Hollywood Bungalow Compound on 16,874 SF Lot | 1908 Hillcrest Rd
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