1832 Garfield Pl - Apartments FOR SALE


Los Angeles, CA 90028- Hollywood
$9,950,000 USD
310-706-4400
1832 Garfield Pl, Los Angeles, CA for Sale
$9,950,000 USD
Apartments - FOR SALE
1/8
null | 5.24% Cap Rate

1832 Garfield Pl
Los Angeles, CA 90028
Hollywood


HIGHLIGHTS

  • FIRST TIME ON MARKET IN 35+ YEARS: 1832 Garfield has been owned by the same family since 1988.
  • HIGH ROI ON VALUE-ADD DOLLARS: By completing interior renovations rental income can be increased by approximately 27%.
  • NOTABLE RECENT IMPROVEMENTS COMPLETED: Water heater replacements, fire alarm panel upgrades and full copper re-pipe.
  • SHORT WALK FROM FRANKLIN VILLAGE
  • PROXIMITY TO NOTABLE EMPLOYMENT
  • HOLLYWOOD REMAINS WELL UNDER SUPPLIED & DEVELOPMENT PIPELINE IS DWINDLING

OVERVIEW

OFFERS DUE ON OR BEFORE WEDNESDAY, MARCH 26TH Will Respond to Offers as Received -------- Institutional Property Advisors (IPA), as the exclusive listing agent, is pleased to present the opportunity to acquire 1832 Garfield Place (the “Property”), a 42-unit value-add opportunity located at the base of the Hollywood Hills and one block from the Los Feliz neighborhood of Los Angeles. Originally built in 1958, and owned by the same family for the past 35+ years, 1832 Garfield offers investors compelling value-add potential by upgrading features such as appliances, countertops, cabinetry, and flooring. Post renovation, rental income can be increased by approximately 27%. 1832 Garfield offers an excellent location that is adjacent to exorbitant single-family estates in the Hollywood Hills, within a short walk of everyday amenities, and a short commute to major employment opportunities. Major entertainment industry titans such as Netflix, NBC/Universal, Warner Brothers, and Paramount/Skydance are within a 5-10 minute commute, 3 million total jobs across a diverse set of industries are accessible within 20-30 minutes given proximity to the 101-freeway, and Franklin Village with its eclectic mix of shops is within walking distance. Portfolio Offering: This Property is being offered concurrently with 5460 Sierra Vista. The Properties can be purchased individually or as a portfolio. Contact the listing agents to learn more.

FOR SALE DETAILS

PRICE

$9,950,000 USD

PRICE/SF

$301 USD /SF

# OF UNITS

42

PRICE/UNIT

$236,905

CAP RATE

5.24%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1927

PARKING SPACES

49

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

R3-1

APN/PARCEL ID

5544-004-030

ASK ABOUT THIS PROPERTY

Kevin GreenTHG Multifamily AdvisorsMore Info
310-706-4400

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Kevin GreenTHG Multifamily AdvisorsMore Info
310-706-4400

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