1266 N Ardmore - Apartments FOR SALE


Los Angeles, CA 90029- Little Armenia
$1,950,000 USD
213-943-1897
1266 N Ardmore, Los Angeles, CA for Sale
$1,950,000 USD
Apartments - FOR SALE
1/8
null | 6.59% Cap Rate

1266 N Ardmore
Los Angeles, CA 90029
Little Armenia


HIGHLIGHTS

  • There is 33 Percent Remaining Rental Upside Through Interior Renovations
  • Located in a Desirable East Hollywood Pocket with a 91 Walk Score “Walker’s Paradise” —Daily Errands Don’t Require a Car
  • Residents Enjoy Convenient Access to Vibrant Restaurants, Bars, Gyms, Grocery Stores and Entertainment
  • Trash and a Water (Select Unit Only) are Paid by Tenants, Leading to a Lower Operating Cost and Higher Yields
  • Located in a Designated Opportunity Zone and May be Eligible for Preferential Tax Treatment
  • Operating at a Current 6.59% Cap Rate & 10.16 GRM

OVERVIEW

PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS. The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a nine-unit apartment community located at 1266 North Ardmore Avenue. The subject property is located south of Fountain Avenue and west of Normandie Avenue. Located in the heart of vibrant East Hollywood, this property offers easy access to trendy cafes, local shops, and iconic entertainment in Hollywood, Silver Lake & Echo Park. Its prime location offers easy access to both Sunset Junction, about a mile east, and the Hollywood Freeway, providing an ideal combination of walkability and drivability. With increasing foot traffic, rising demand, and undeniable growth, this area is on a clear upward trajectory. Situated on a 7,939 square foot parcel, the property is comprised of one studio, six one-bedroom units, and two two-bedroom units. The property has more than 33% remaining rental upside through unit renovations. 1266 North Ardmore Avenue offers a compelling opportunity to acquire a property in a sought-after pocket of East Hollywood combined with value-add potential to achieve enhance future returns.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$308 USD /SF

# OF UNITS

9

PRICE/UNIT

$216,667

CAP RATE

6.59%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

9 Units | 6.59% Cap Rate | 10.16 GRM

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1924

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,939 SF

ZONING

LARD1 5

APN/PARCEL ID

5537-016-027

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.