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$2,000,000
Est. payment /mo
6,916 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,916 sqft
Price per Sqft $289
MLS Listing ID CL25506173
HOA Y/N No
Year Built 1953
Lot Size 7,702 Sqft
Acres 0.18
Property Sub-Type Other
Property Description
We are pleased to present 1820 Grace Ave, a 10 unit apartment building located in the heart of Hollywood, a prime neighborhood of Los Angeles, CA. Built in 1953, the property consists of (8) one-bedroom + one-bathroom units and (2) two-bedroom + one bathroom unit. The building is 6,916 gross square feet and sits on a 7,702 square foot lot.1820 Grace Ave is located on a charming, tree-lined street in Hollywood. There is no shortage of activities to explore in the area. From popular hiking trails of Runyon Canyon and Griffith Park to seeing the Hollywood Walk of Fame. Hollywood's central location provides convenient access to major freeways, public transportation, and is only a 5-minute walk to the Hollywood Blvd Metro station further extending the area's connectivity to the rest of Los Angeles.1820 Grace Ave represents a unique value-add opportunity for investors due to the property's location and rental upside. The property offers a initial CAP rate of 5.62% with the ability to improve to a 8.29%CAP rate once units turnover.
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 5547006004
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Listed by Michael Sterman • Marcus & Millichap
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