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1862 N Van Ness Ave

Los Angeles, CA 90028
  • $2,150,000
  • STATUS: Closed
  • ON SITE: 132 Days
  • ID#: 21-781904
Sold - 11/29/2021
$2,150,000
SOLD - 11/29/2021
  • 8
    BEDS
  • 0.23
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,638
    SQFT
  • $381
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1921
County:
Area:

School Ratings & Info

Description

1862 Van Ness Avenue, in Hollywood, CA. Built in 1921, this unique property made up of six units will be delivered with two units vacant (two one-bedrooms). This is an ideal investment opportunity located in a prime area of Hollywood with strong cashflow at a 4.66% CAP rate on current income with additional 19% rental upside.The building features a unit mix made up of one-bedrooms and two-bedrooms, each with spacious layouts. The property comes with 3 garage spaces as well as four open spaces in the back of the building for a total of seven parking spaces. There is no soft story retrofit required. The units are separately metered for gas & electric, have individual water heaters as well as central air and ceiling fans throughout. Furthermore, there is in-unit laundry in three of the units and the two-bedrooms feature large private balconies. This exclusive pocket of Hollywood remains one of the most desirable addresses for both living and working. With the median household income continuing to rise and average home value of over $1 million within three miles, the demand for apartment units increases year-over-year exemplified with surrounding new residential and office developments as well as major employers established in the submarket. 1862 Van Ness Avenue is ideally situated to benefit from this economic growth as thousands of new high-paying jobs are within walking distance. The subject property has a walk score of 86 with unparalleled access to nightlife, dining, education and employment opportunities.

Sold by Neema Ahadian BRE#01346750 of Marcus & Millichap.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-20T10:42:31.837. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.bringingyouhomescv.com/homes/121275849
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1862 N Van Ness Ave Los Angeles, CA 90028

  • Price: $2,075,000
  • Status: Closed
  • On Site: 132 Days
  • Updated: 30 min ago
  • ID#: 21-781904
8
Beds
0
Baths
0
½ Baths
0.23
Acres
5,638
SQFT
$381
$/SQFT
1921
Built
Neighborhood:
Hollywood
County:
Los Angeles
Area:
Hollywood
Property Description
1862 Van Ness Avenue, in Hollywood, CA. Built in 1921, this unique property made up of six units will be delivered with two units vacant (two one-bedrooms). This is an ideal investment opportunity located in a prime area of Hollywood with strong cashflow at a 4.66% CAP rate on current income with additional 19% rental upside.The building features a unit mix made up of one-bedrooms and two-bedrooms, each with spacious layouts. The property comes with 3 garage spaces as well as four open spaces in the back of the building for a total of seven parking spaces. There is no soft story retrofit required. The units are separately metered for gas & electric, have individual water heaters as well as central air and ceiling fans throughout. Furthermore, there is in-unit laundry in three of the units and the two-bedrooms feature large private balconies. This exclusive pocket of Hollywood remains one of the most desirable addresses for both living and working. With the median household income continuing to rise and average home value of over $1 million within three miles, the demand for apartment units increases year-over-year exemplified with surrounding new residential and office developments as well as major employers established in the submarket. 1862 Van Ness Avenue is ideally situated to benefit from this economic growth as thousands of new high-paying jobs are within walking distance. The subject property has a walk score of 86 with unparalleled access to nightlife, dining, education and employment opportunities.
Exterior Features

Lot Size Area 10192 Other Structures None Parking Garage Garage Is DetachedGated Total Parking 6

Interior Features

Baths Total 6.00 Cooling Air Conditioning Equipment Ceiling FanMicrowaveHood FanRefrigeratorRange/Oven Flooring TileLaminateHardwood Heating Natural Gas

Property Features

Assessed Total Value 1624429 Gross Income 147804 Gross Operating Income 143737 Like Units1 4 Like Units2 2 Net Operating Income 99632.00 Number Of Buildings 1 Number Of Units 6 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 43737 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Rd1.5-1Xl

Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-20T10:42:31.837. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Montemayor & Associates | RE/MAX of Santa Clarita
25129 The Old Road, Suite 114
Stevenson Ranch CA, 91381