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Listing 8 out of 104
$6,700,000 For Sale

1522 Hi Point Street
Los Angeles, CA 90035

18 beds | Residential Income
11,766 sq ft - MLS# 19487024
Property Photo
1/11

Description

We are proud to present "HI POINT 18", an 18 unit multifamily asset located on 1522 Hi Point Ave, Los Angeles, CA 90035. This property in situated in the community of Faircrest Heights, a rental pocket of LA well known for its proximity to West Hollywood to the North, Beverly Hills and Century City to the West and Culver City to the South. Residents enjoy the best selection of restaurant options, galleries and retail stores as well as easy access to freeways. This property is situated on a huge 17,003 SF lot that is zoned LAR3 and is designated as a Tier 3 TOC location, allowing for the potential of a high density redevelopment up to 38 units. The ingoing CAP Rate and GRM are very competitive with trending market expectations. With the recent drop in interest rates from last year, perhaps the last great market opportunity is presenting itself now to borrow below the asset's rate of return, making for an ideal time to strike on assets like this one well positioned for growth.

Features

  • Property Type: Residential Income
  • Sub Type: Apartment Building
  • Listing Status: Active
  • County/Area: Los Angeles County
  • Zip Code: 90035
  • Year Built: 1972
  • Subdivision/Neighborhood: Beverlywood Vicinity (C09)
  • Sq.Ft.: 11,766 sq ft
  • Stories: 2-Story
  • Bedrooms: 18
  • # of Parking Spaces: 20
  • Zoning: LAR3
  • Actual Annual Gross Rent: 415200.00
  • Actual Gross Annual Income: 415200.00
  • Adjusted Gross Income: 415200.00
  • Agent License Number: 01456686
  • Cap Rate: 3.77
  • City Code: 10000058287
  • Co-Agent License Number: 01902650
  • Expense Total Annual: 152817.00
  • Gross Operating Income: 415200.00
  • Gross Rent Multiplier: 16.04
  • Heating Fuel: Wall Gas
  • Heating Type: Wall Gas
  • Lot Size SQFT: 17003
  • Lot Size Source: Vendor Enhanced
  • Net Operating Income: 252328.00
  • Number Of Buildings: 1
  • Parking Type: Assigned
  • Square Footage Source: Vendor Enhanced
  • Total Floors: 2
  • Unit Furnished01: Unfurnished
  • Unit Furnished02: Partially
  • Unit Furnished03: Partially
  • Unit Furnished04: Partially
  • Unit Furnished05: Partially
  • Unit Furnished06: Partially
  • Unit Furnished07: Partially
  • Unit Furnished08: Partially
  • Unit Furnished09: Partially
  • Unit Furnished10: Partially
  • Unit Furnished11: Partially
  • Unit Furnished12: Partially
  • Unit Furnished13: Partially
  • Unit Monthly Rent01: 1922.00
  • Unit Number Of Bath01: 1.0
  • Unit Number Of Bed01: 1
  • Units In Complex: 18
Courtesy of Re/Max Estate Properties, Scott Rosenberg (CalBRE: 01456686)


Gail Mercedes Cole (310) 853-9933

The Hills Premier Realty
9595 Wilshire Blvd, Ste #900, Beverly Hills, CA 90212
Beverly Hills, CA 90212

This is not intended as a solicitation of prospective buyers or sellers who already have an exclusive agency agreement with another agent. All information deemed accurate but not guaranteed, CalDRE#00788828
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