5425 Santa Monica Blvd

Los Angeles, CA, 90029

$8,300,000

$305 per ft²
$8,300,000
$305 per ft²
Active Under Contract
Active Under Contract
 - For Sale
carpenters-square
27,192 ft²
property_type
Multi-family
calendar
Built 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.
MLS® ID:
21-791998
Listed:
9/14/21
Updated:
8/8/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Floor Description
Laminate, Hardwood
Cooling
None
Heating
Natural Gas

Exterior/Building Features

Lot Size
6,931 ft² lot

Other Property Details

Garage
No
Parking
None
View
N
County
Los Angeles
Pool
No
Total Stories
4
Zoning
LAC4

 

Courtesy of , Marcus & Millichap

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 Mark Mintz shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 8/8/22

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