Active
1770 El Cerrito Pl
Los Angeles CA, 90028
$4,795,000
$471.67 per sqft
Active
17 Beds
18 Baths
10,166 sqft
Multi-family
Built in 1958
Huge 1.2M Price Reduction! 16-unit building with 9 vacancies priced at only 299k/door for prime Hollywood in an opportunity zone. Cash flowing at an amazing 6% Cap Rate and 12 GRM on existing after renovations with an incredible upside to an 8.4% Cap Rate and 9.1 GRM on proforma. Plus, there are 4 attached ADUs under construction with RTI plans to improve the numbers to only 239k/unit, 7.3% Cap Rate, and 10.2 GRM on current. All 9 vacant units and 4 ADUs are under renovation so buyers can complete them to their own taste and finishes and get top market rents (Most of the rough construction and heavy lifting have been done for the remodels). Great amenities such as Pool, Laundry Room, and carport garages. Individually metered for Gas & Electricity. Situated in the Heart of Hollywood, steps away from RunyonCanyon, Magic Castle, Yamashiro, and Hollywood Bowl! The soft story has already been completed and the roof has been recently updated. Potential to create and add a rooftop to maximize rents and amenities.
23-325357
MLSⓇ ID
October 25, 2023
Listed
November 2, 2023
Updated
Map
1770 El Cerrito Pl
Los Angeles CA, 90028
Interior Features
Total Stories
2
Bedrooms
17 Beds
Bathrooms
18 Baths
Fireplace
No
Cooling
Yes
Cooling Description
None
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.25 acres
Exterior Features
None
Architectual Style
Traditional
Other Property Details
Days on Market
8
Garage
No
Parking
Covered Parking
Parking Total
12
View
No
County
Los Angeles
Pool
No
Zoning
LAR4
Courtesy of Armin Soleimani with Global Platinum Properties, Inc.
Listing Contact: 310-666-2246
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor OMNI Homes shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2023 Combined L.A./Westside MLS. All rights reserved.
Data last updated 11/2/2023
