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- LoopNet Team
7070 Franklin Ave
Los Angeles, CA 90028
62-unit 100% VACANT in Prime Hollywood · Multifamily Property For Sale · 62 Units
Investment Highlights
- TRUE Prime value-add opportunity with 100% vacancy in a Class A location in the heart of Hollywood! (building has been vacant for more than 5 years)
- Long-time owner since 1979!
- Walker’s Paradise – walk score 93! Excellent access to FWY 101; Minutes away from Hollywood Bowl.
- One of the very few true value-add apartment deals that DOES NOT REQUIRE ANY TENANT BUYOUT!
- Superb location! A block from Hollywood & Highland, Hollywood Walk of Fame, TCL Chinese Theatre, Hollywood/Vine Station, Yamashiro | Hollywood, etc.
- Blank canvas for a creative investor to rehab the property and maximize its income potential.
PROPERTY FACTS
| No. Units | 62 | Lot Size | 0.60 AC |
| Property Type | Multifamily | Building Size | 35,378 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low Rise | Year Built | 1958 |
| Building Class | F | Parking Ratio | 1.5/1,000 SF |
| No. Units | 62 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | F |
| Lot Size | 0.60 AC |
| Building Size | 35,378 SF |
| No. Stories | 3 |
| Year Built | 1958 |
| Parking Ratio | 1.5/1,000 SF |
Unit Amenities
- Balcony
- Kitchen
Site Amenities
- Pool
- Sundeck
About 7070 Franklin Ave , Los Angeles, CA 90028
The Growth Investment Group as the exclusive listing agent is proud to offer 7070 Franklin Ave, Los Angeles, a 62-unit 100% VACANT value-add apartment investment opportunity located in the heart of Hollywood, CA. The property is a block away from the world renown Hollywood Blvd and literally within walking distance to the some of the most iconic Hollywood destinations such as El Capitan Theatre, Hollywood Walk of Fame, TCL Chinese Theatre, Hollywood & Highland, Madame Tussauds Hollywood, Yamashiro Hollywood. Because of this extremely great location, it has a Walk Score 93 out of 100, demonstrating “WALKER’s PARADISE” location to a variety of nearby amenities such as restaurants, shops, health clubs and entertainment venues. This offering presents the only TRUE VALUE ADD, 100% vacant investment opportunity in an iconic neighborhood of Los Angeles. The property has been in the same ownership since 1979. The property is three-story mid-high-rise apartment that was built in 1958 with ±35,378 SF building size and situated on a ±25,931 SF lot size. It has efficient unit mix and good number of parking spaces. The unit mix detail and floor plan can be found in the OFFERING MEMORANDUM. The property is bordering West Hollywood and has superb access to FWY 101, Santa Monica Blvd, and offers an easy commute to additional employment centers of downtown Los Angeles. Please contact Han Widjaja Chen han.chen@growthinvestmentgroup.com to get the Confidentiality Agreement for document and building access.
PROPERTY TAXES
| Parcel Number | 5548-002-011 | Improvements Assessment | $3,544,434 |
| Land Assessment | $14,177,738 | Total Assessment | $17,722,172 |
PROPERTY TAXES
zoning
| Zoning Code | LAR4-1VL (Opportunity Zone, TOC Tier-3) |
| LAR4-1VL (Opportunity Zone, TOC Tier-3) |
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