642 N Hayworth Ave - Apartments FOR SALE


Los Angeles, CA 90048- Beverly Grove
$2,700,000 USD
424-600-7633
642 N Hayworth Ave, Los Angeles, CA for Sale
$2,700,000 USD
Apartments - FOR SALE
1/13
null | 4.31% Cap Rate

642 N Hayworth Ave
Los Angeles, CA 90048
Beverly Grove


HIGHLIGHTS

  • WeHo adjacent - Prime location in the heart of the city
  • Walking distance to The Grove - Central to Fairfax District - Nightlife and hospitality options abound
  • Walking distance to everything trendy
  • Parking in front and back of building - Possible ADU?
  • Long term Owners with tons of upside on the rents - Soft story Retrofit complete
  • Tons of Jobs in immediate area including high paying entertainment jobs

OVERVIEW

Partners CRE is proud to exclusively present for sale a 9 unit residential income property just outside of West Hollywood. The adjacent 10 unit building is also available for sale. Central, central, central! Just off Melrose Ave., and around the corner from the Central Fairfax District and Fairfax High School (with it’s weekend Melrose Trading Post), this property is right dab in the middle of a Walker’s Paradise, surrounded by shops, fine and casual dining, sought-after nightlife, and pretty much anything trendy one can think of! Long-term owners have lovingly cared for the building over the years, and with new and longer-term tenants, rents are still averaging around 35% below market. The building’s tuck-under parking has been mitigated, with the already-completed Soft Story Seismic Retrofit work. And there’s always potential for ADUs! The offering features bright units that each cover the whole width of the building, and spacious layouts ranging from just over 700 square feet to just under 1,000 square feet each! There are three sets of tandem parking spaces in the front and five gated parking spaces in the back, accessible from the alley. Lots of jobs in the area, but situated on a calm residential street with permit parking! Walking distance to The Grove, the 3rd Street Shopping District, the Beverly Center and more! The property currently shares some services with the neighboring building, such as garbage, garage gates and laundry room.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$273 USD /SF

# OF UNITS

9

PRICE/UNIT

$300,000

CAP RATE

4.31%

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

9 Units by Grove w/ Upside - Next Door Avail.

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,500 SF

ZONING

R3

APN/PARCEL ID

5527-017-020

ASK ABOUT THIS PROPERTY

Dario SvidlerPartners CRE - KWBHMore Info
424-600-7633

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Dario SvidlerPartners CRE - KWBHMore Info
424-600-7633

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