Sold
5425 Santa Monica Blvd
Los Angeles CA, 90029
$7,700,000
$283.17 per sqft
Sold
27,192 sqft
Multi-family
Built in 1925
5425 Santa Monica Boulevard in Los Angeles, CA 90029. Built in 1925, this prime mixed-use opportunity consists of 30 apartment units and 6,500 SF of commercial space located in the Hollywood Studio District of Los Angeles. This four-story building features 24 singles, 6 one-bedrooms, and 4 retail or office spaces.This offering presents the investor the opportunity to purchase a well-maintained property with stable cash flow of 5.49% on current income. The apartment units offer over 14% rental upside as units turn along with rental increases throughout the leases of the commercial tenants. Additionally, an investor will have the opportunity to increase cash flow with the addition of signage on the east side of the property. The Hollywood market remains one of the most desirable submarkets for living and working. With over 100,000 people living within one-mile and an average home value of over $840,000 within a three-mile radius, the demand for apartment units continues to increase year-over-year. The subject property has a walk score of 92 and offers direct access to the 101 Freeway and a quick walk to to both the Western/Hollywood Blvd Station and the Vermont/Santa Monica Blvd Station.
21-791998
MLSⓇ ID
October 5, 2021
Listed
August 23, 2024
Updated
Map
5425 Santa Monica Blvd
Los Angeles CA, 90029
Interior Features
Total Stories
4
Appliances
Ceiling Fan, Range/Oven, Refrigerator
Floor Description
Laminate, Hardwood
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Natural Gas
Exterior/Building Features
Lot Size
0.16 Acres
Other Property Details
Area Name
Hollywood
Days on Market
154
Garage
No
Parking
None
Parking Total
0
View
No
County
Los Angeles
Pool
No
Zoning
LAC4
Listed by Neema Ahadian with Marcus & Millichap
Listing Contact: 310-909-5444
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Data last updated 8/23/2024