758 N Hudson Ave 12 Unit Apartment Building $2,799,000 ($233,250/Unit) 5.77% Cap Rate Los Angeles, CA 90038
INVESTMENT HIGHLIGHTS
- Prime Hollywood
- Well Maintained
- Laundry room possible ADU conversion
- 57% upside in rents
- Property well Parked
- Corner Location
EXECUTIVE SUMMARY
$200,000 Price Reduction. LA Commercial and Kelly Morgan Commercial are proud to present 758 N Hudson Ave, a well-maintained 12-unit multifamily property located in the heart of Hollywood, CA 90038. This classic building, constructed in 1955, features (12) spacious 1-bedroom, 1-bathroom units, each offering comfortable living spaces. The property boasts a secure entrance, convenient tuck-under parking for residents, and a on-site laundry room.
Currently operating at a solid 5.77% capitalization rate, this investment offers significant upside potential. While subject to Los Angeles rent control with allowable annual rent increases of 4%, the existing rents are well below market, providing a clear pathway to increased revenue through strategic upgrades and proactive management.
Residents enjoy the building’s prime location, within walking distance to a variety of shops, restaurants, and entertainment venues. Its proximity to major Hollywood attractions, studios, and employment centers makes it highly desirable for renters. With its classic charm, spacious units, convenient on-site amenities, and prime location, this property offers an exceptional opportunity to own a piece of Hollywood history with strong cash flow and substantial value appreciation potential.
Please contact us for an OM
Currently operating at a solid 5.77% capitalization rate, this investment offers significant upside potential. While subject to Los Angeles rent control with allowable annual rent increases of 4%, the existing rents are well below market, providing a clear pathway to increased revenue through strategic upgrades and proactive management.
Residents enjoy the building’s prime location, within walking distance to a variety of shops, restaurants, and entertainment venues. Its proximity to major Hollywood attractions, studios, and employment centers makes it highly desirable for renters. With its classic charm, spacious units, convenient on-site amenities, and prime location, this property offers an exceptional opportunity to own a piece of Hollywood history with strong cash flow and substantial value appreciation potential.
Please contact us for an OM
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$159,322
|
$17.48
|
PROPERTY FACTS
| Price | $2,799,000 |
| Price Per Unit | $233,250 |
| Sale Type | Investment |
| Cap Rate | 5.77% |
| Gross Rent Multiplier | 11.31 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 9,116 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1955 |
| Parking Ratio | 1.32/1,000 SF |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | 685 |
1 of 1
Walk Score®
Walker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 5533-035-027 | Improvements Assessment | $194,908 |
| Land Assessment | $72,322 | Total Assessment | $267,230 |
ZONING
| Zoning Code | LAR3 |
