626 N Flores St West Hollywood , CA 90048
Pending
$6,500,000
19 Units
35 Beds
36 Baths
23,611 Area(sq.ft.)
12,079 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 16 | 2 | 2 | No | $ 40,197 | $ 40,197 | $ 49,500 |
| Unit 2 | 3 | 1 | 1 | No | $ 6,161 | $ 6,161 | $ 7,500 |
| 2 | 19 | 35 | 35 | $ 661,635 | $ 661,635 | $ 814,500 |
| MLS #: | 25-485757 |
| Days On Market: | 2 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 275 |
| Price per unit: | $ 342,105 |
| Year Built: | 1964 |
Property Details
First time on the market in 47 years! Located on a charming tree lined street, steps away from Melose shops and dining. This 19 unit building consists of (15) two-bedroom units, (3) one-bedroom units, and (1) two-bedroom unique owner's penthouse unit with beautiful Hollywood Hills views. FIVE UNITS DELIVERED VACANT! Upgrade and increase rental incomes. The building is 23,611 gross square feet and sits on a 12,079-square-foot lot. Residents enjoy a 93 walk score with unparalleled access to world-class dining, retail shops, and entertainment along the renowned Melrose Ave. with Beverly Hills just minutes away. This prime location ensures excellent connectivity via La Cienega Blvd and Melrose Ave, offering both lifestyle and convenience. This offering presents a value-add investment opportunity, offering a 5.4% initial CAP rate with the potential to achieve 7.30% once units turnover. Don't miss your chance to own a piece of this thriving community where culture, And prime location create an ideal environment for residents to live, work, and play. (All Electric Building, 31 Parking Spaces, Photos reflect a sampling of all currently vacant units)Interested in this Listing?
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Income Details
| Rent Control: | Yes, 19% |
| Vacancy Rate: | 5% |
| Gross Operating Income: | $ 556,304 |
| Total Annual Expense: | $ 188,815 |
| Net Operating Income: | $ 339,674 |
| Gross Annual Income: | $ 556,304 |
| Cap Rate: | 5.23% |
| Gross Rent Multiplier: | 11.86 |
| Actual Gross Rent: | $ 556,304 |
Structure
| Amenities: | Elevator, Gated Community |
| Type of Units: | Single Level |
| Buildings: | 1 |
| Levels: | One |
| Security Features: | Gated, Automatic Gate, Community, Fire and Smoke Detection System |
| Style: | Contemporary |
| Sewer: | In Street |
| View Description: | City Lights, Hills |
Land & Parking
| Zoning: | WDR3C* |
| Parking Garage: | Auto Driveway Gate, Community Garage, Tandem, Subterranean |
| Covered Parking: | 29 |
| Total Parking: | 31 |
Interior
| Cooking Appliances: | Cooktop - Electric, Electric |
| AC/Cooling: | Wall Unit(s) |
| Equipment: | Garbage Disposal, Range/Oven, Elevator, Intercom |
| Heating: | Radiant |
| Fireplace Rooms: | None |
| Interior Features: | Elevator |
| Laundry: | Community, Room |
Exterior
| Pool: | No |
| Spa: | No |
Detailed Map
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