726 N Van Ness Ave
Los Angeles, CA 90038
Multifamily Property For Sale · 20 Units
EXECUTIVE SUMMARY
Multifamily Investment Opportunity
• Well-preserved Art Deco reminiscent 9,508 square building on a 6,730 square foot lot that’s been well maintained with significant pride of ownership by the same family for over 25 years
• 5.13% cap to be a 7-cap stabilized with pricing below replacement cost at $163,750 per unit and $344 per square foot in a highly desirable neighborhood across from Paramount Studios
• 20-unit, sleek and geometrically designed “le style moderne” property consisting of (17) Studios and (3) 1 bedroom and 1 bath units ranging in size from 440 square feet to 640 square feet with an Accessory Dwelling Unit (ADU) currently under construction to be completed by close of escrow
• Potential for 21% rental upside with the opportunity to add value and capture top-of-market rents through strategic renovations by modernizing the units by adding recessed lighting, stainless steel appliances, and granite countertops, updating the common areas, and making managerial changes
• A superior location north of Hancock Park, west of Larchmont Village, and directly across the street from the longest operating and only remaining major studio in Hollywood, Paramount Pictures which attracts a solid and consistent tenant base new to Los Angeles and dreaming about the future
Convenient Location in Hollywood
• Centrally located with a walk score of 84 out of 100—close to entertainment, restaurants, and employment centers such as Paramount Studios just across street, Sunset Gower Studios, Children’s Hospital, Kaiser Permanente, Saffy’s on Fountain, Netflix, Hollywood Forever Cemetery, and many others
• Just blocks from Echelon Studios’, new development on 4.71 acres that will include a full-service movie studio lot with five sound stages, offices, and retail slated for completion in 2026
• Easy access to the 101 Freeway, Connecting the property to the greater Los Angeles Area
Strong Multifamily Fundamentals
• Average submarket asking rent has grown 15.9% over the past year and is forecasted to rise another 25.7% in the next 5 years
• Submarket occupancy has averaged 95.9% over the past five years
• Robust employment base of 707,677 within a five-mile radius
• Favorable rental market with a majority rentership rate of 86.7% within a one-mile radius
• Submarket home values have gone up 29.8% over the past year
• Well-preserved Art Deco reminiscent 9,508 square building on a 6,730 square foot lot that’s been well maintained with significant pride of ownership by the same family for over 25 years
• 5.13% cap to be a 7-cap stabilized with pricing below replacement cost at $163,750 per unit and $344 per square foot in a highly desirable neighborhood across from Paramount Studios
• 20-unit, sleek and geometrically designed “le style moderne” property consisting of (17) Studios and (3) 1 bedroom and 1 bath units ranging in size from 440 square feet to 640 square feet with an Accessory Dwelling Unit (ADU) currently under construction to be completed by close of escrow
• Potential for 21% rental upside with the opportunity to add value and capture top-of-market rents through strategic renovations by modernizing the units by adding recessed lighting, stainless steel appliances, and granite countertops, updating the common areas, and making managerial changes
• A superior location north of Hancock Park, west of Larchmont Village, and directly across the street from the longest operating and only remaining major studio in Hollywood, Paramount Pictures which attracts a solid and consistent tenant base new to Los Angeles and dreaming about the future
Convenient Location in Hollywood
• Centrally located with a walk score of 84 out of 100—close to entertainment, restaurants, and employment centers such as Paramount Studios just across street, Sunset Gower Studios, Children’s Hospital, Kaiser Permanente, Saffy’s on Fountain, Netflix, Hollywood Forever Cemetery, and many others
• Just blocks from Echelon Studios’, new development on 4.71 acres that will include a full-service movie studio lot with five sound stages, offices, and retail slated for completion in 2026
• Easy access to the 101 Freeway, Connecting the property to the greater Los Angeles Area
Strong Multifamily Fundamentals
• Average submarket asking rent has grown 15.9% over the past year and is forecasted to rise another 25.7% in the next 5 years
• Submarket occupancy has averaged 95.9% over the past five years
• Robust employment base of 707,677 within a five-mile radius
• Favorable rental market with a majority rentership rate of 86.7% within a one-mile radius
• Submarket home values have gone up 29.8% over the past year
PROPERTY FACTS
| Price Per Unit | $163,750 |
| Sale Type | Investment |
| Cap Rate | 5.13% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 9,508 SF |
| No. Stories | 2 |
| Year Built | 1928 |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
PROPERTY TAXES
| Parcel Number | 5535-002-005 | Improvements Assessment | $241,034 |
| Land Assessment | $162,856 | Total Assessment | $403,890 |
ZONING
| Zoning Code | LAR3 |
