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$ 6,700,000
Est. payment | /mo
17,095 SqFt
$ 6,700,000
Est. payment | /mo
17,095 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 17,095 sqft
Price per Sqft $391
MLS Listing ID CL25478521
HOA Y/N No
Year Built 1965
Lot Size 0.425 Acres
Acres 0.43
Property Sub-Type Other
Property Description
This is a bankruptcy sale that will be subject to a court overbid. We are pleased to present 1825 Tamarind Ave, a multifamily investment opportunity totaling 33 units in prime Hollywood just south of Franklin Ave across the street from the Church of Scientology. The subject property consists of two structures featuring a unit mix of 20 singles, nine one-bedrooms, three two-bedrooms, and one three bedrooms; there are 33 parking spaces, a mix of tuck under parking and uncovered spaces at the rear of the property; nine units will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rents immediately. True value add opportunity with the majority of the rents below market;5.35% CAP rate & 10.89 GRM at the asking price with an additional 28% rental upside; additionally, the abundant parking and storage spaces create an opportunity to add several ADU's via the newly passed SB1211 (Buyer to verify). Units are well-maintained but can be enhanced through interior renovations to achieve market rents such as new flooring, recessed lighting or new fixtures, updated bathrooms & kitchens, and appliances. High walk score of 87, half of a mile from the Metro B rail line and walking distance to multiple Metro local lines along Franklin Ave. Major employer
Location
State CA
County Los Angeles
Zoning R3-1
Interior
Heating None
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID UNAVAILABLE
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Listed by Neema Ahadian • Marcus & Millichap
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "