641 N Hobart Blvd - Apartments FOR SALE


Los Angeles, CA 90004
$6,800,000 USD
310-595-3642
641 N Hobart Blvd, Los Angeles, CA for Sale
$6,800,000 USD
Apartments - FOR SALE
1/30
null | 4.57% Cap Rate

641 N Hobart Blvd
Los Angeles, CA 90004


HIGHLIGHTS

  • Non-Rent Controlled Asset: Not Subject to LA City or CA State Rent Control Laws
  • Attractive Basis: Priced Significantly Below Replacement Costs
  • Ample Parking: Private, gated, subterranean parking garage containing 19-spaces
  • New construction with best-in-class finishes and in-unit washer/dryers
  • Low operating expenses with tenants reimbursing for Utilities

OVERVIEW

JLL, as exclusive advisor, is pleased to present for sale 641 N Hobart Blvd (the “Property” or “641 Hobart”); a centrally located multifamily investment opportunity situated in the renowned Melrose Hill neighborhood of Los Angeles. 641 Hobart is a 16-unit, 4-story property comprised of bachelor, studio, 1- and 2-bedroom apartments. Perfectly positioned at the crossroads of Melrose Hill, Hollywood, and Koreatown this exceptional Property offers an unparalleled blend of convenience and accessibility to a vast array of amenities. Boasting proximity to major employment centers throughout Los Angeles, this prime location ensures seamless connectivity to the city’s vibrant hubs. Notably, the area surrounding 641 Hobart is home to some of the most coveted submarkets in Los Angeles, with an unrivaled collection of high-performing shopping centers, renowned dining establishments, and cultural landmarks. From the world-class culinary delights of Noshi Sushi, Osteria La Buca, and Café Gratitude, to the iconic presence of the Dolby Theatre and the internationally acclaimed Hollywood Bowl, this vibrant destination captivates both permanent residents and visitors alike, promising an unforgettable experience of all that the area has to offer.

FOR SALE DETAILS

PRICE

$6,800,000 USD

PRICE/SF

$424 USD /SF

# OF UNITS

16

PRICE/UNIT

$425,000

CAP RATE

4.57%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

ST Living at 641 N Hobart

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2023

PARKING SPACES

19

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

LAR3

APN/PARCEL ID

5521-004-020

ASK ABOUT THIS PROPERTY

310-595-3642

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

310-595-3642

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