ST Living at 641 N Hobart | 641 N Hobart Blvd
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ST Living at 641 N Hobart 641 N Hobart Blvd
16 Unit Apartment Building $6,800,000 ($425,000/Unit) 4.57% Cap Rate Los Angeles, CA 90004
Investment Highlights
- Non-Rent Controlled Asset: Not Subject to LA City or CA State Rent Control Laws
- Ample Parking: Private, gated, subterranean parking garage containing 19-spaces
- Low operating expenses with tenants reimbursing for Utilities
- Attractive Basis: Priced Significantly Below Replacement Costs
- New construction with best-in-class finishes and in-unit washer/dryers
Executive Summary
JLL, as exclusive advisor, is pleased to present for sale 641 N Hobart Blvd (the “Property” or “641 Hobart”); a centrally located multifamily investment opportunity situated in the renowned Melrose Hill neighborhood of Los Angeles. 641 Hobart is a 16-unit, 4-story property comprised of bachelor, studio, 1- and 2-bedroom apartments.
Perfectly positioned at the crossroads of Melrose Hill, Hollywood, and Koreatown this exceptional Property offers an unparalleled blend of convenience and accessibility to a vast array of amenities. Boasting proximity to major employment centers throughout Los Angeles, this prime location ensures seamless connectivity to the city’s vibrant hubs. Notably, the area surrounding 641 Hobart is home to some of the most coveted submarkets in Los Angeles, with an unrivaled collection of high-performing shopping centers, renowned dining establishments, and cultural landmarks. From the world-class culinary delights of Noshi Sushi, Osteria La Buca, and Café Gratitude, to the iconic presence of the Dolby Theatre and the internationally acclaimed Hollywood Bowl, this vibrant destination captivates both permanent residents and visitors alike, promising an unforgettable experience of all that the area has to offer.
Perfectly positioned at the crossroads of Melrose Hill, Hollywood, and Koreatown this exceptional Property offers an unparalleled blend of convenience and accessibility to a vast array of amenities. Boasting proximity to major employment centers throughout Los Angeles, this prime location ensures seamless connectivity to the city’s vibrant hubs. Notably, the area surrounding 641 Hobart is home to some of the most coveted submarkets in Los Angeles, with an unrivaled collection of high-performing shopping centers, renowned dining establishments, and cultural landmarks. From the world-class culinary delights of Noshi Sushi, Osteria La Buca, and Café Gratitude, to the iconic presence of the Dolby Theatre and the internationally acclaimed Hollywood Bowl, this vibrant destination captivates both permanent residents and visitors alike, promising an unforgettable experience of all that the area has to offer.
Property Facts
Price | $6,800,000 | Apartment Style | Low Rise |
Price Per Unit | $425,000 | Building Class | B |
Sale Type | Investment | Building Size | 16,035 SF |
Cap Rate | 4.57% | Average Occupancy | 100% |
Gross Rent Multiplier | 14.35 | No. Stories | 4 |
No. Units | 16 | Year Built | 2023 |
Property Type | Multifamily | Parking Ratio | 1.18/1,000 SF |
Property Subtype | Apartment |
Price | $6,800,000 |
Price Per Unit | $425,000 |
Sale Type | Investment |
Cap Rate | 4.57% |
Gross Rent Multiplier | 14.35 |
No. Units | 16 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | B |
Building Size | 16,035 SF |
Average Occupancy | 100% |
No. Stories | 4 |
Year Built | 2023 |
Parking Ratio | 1.18/1,000 SF |
Unit Amenities
- Air Conditioning
- Washer/Dryer
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
Studios | 2 | - | 500 - 550 |
1+1.5 | 10 | - | 695 - 750 |
2+2.5 | 4 | - | 1,100 - 1,350 |
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Walk Score ®
Walker's Paradise (93)
zoning
Zoning Code | LAR3 |
LAR3 |
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ST Living at 641 N Hobart | 641 N Hobart Blvd
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