Active
5741 Virginia Ave
Los Angeles CA, 90038
$4,546,000
$391.93 per sqft
Active
20 Beds
21 Baths
11,599 sqft
Multi-family
Built in 1967
Available at only a 10.99 GRM based on current income and merely $216,476 per unit, the asset is priced attractively for a new investor. The current owner has thoroughly remodeled several units, while the exterior paint, landscaping, and driveway gate have all been recently updated. Select interiors have been upgraded with granite countertops, stainless steel appliances, wood flooring, new cabinets, and remodeled bathrooms. A new investor can enjoy strong cash flow free from any costly seismic retrofit repairs, as those have all been completed and filed with the city (Buyer to verify). Located near Sunset Boulevard, the property provides tenants with convenient access to several Hollywood destinations as well as the rest of the Los Angeles metro, via the nearby 101 Freeway. The exclusive Hancock Park neighborhood is only a few blocks southwest, while Koreatown and the Hollywood Walk of Fame are both nearby as well. The new 14-story ICON office tower, primarily leased to Netflix, was recently completed at the nearby Sunset Bronson Studios, while additional new construction is scheduled for Sunset Gower Studios, just one mile from the property. There, a joint venture between Hudson Pacific Properties and The Blackstone Group will be expanding the studio and office space, adding 620,000 square feet to the studio campus. The property is just north of Paramount Studios, the Hollywood Forever Cemetery, and Melrose Hill. The Melrose Hill neighborhood was recently named Los Angeles' Hottest Culinary Boom Town by Eater Los Angeles. Several exciting dining options have recently debuted in the immediate area, including Etra, Kuya Lord, Ggiata, Caf Telegrama, and Le Coupe. Tenants can look forward to even more culinary options in the near future, as Little Fish, Bar Etoile, and Holy Basil are slated to open as well.
24-423995
MLSⓇ ID
August 5, 2024
Listed
September 13, 2024
Updated
Map
5741 Virginia Ave
Los Angeles CA, 90038
Interior Features
Total Stories
2
Bedrooms
20
Total Bathrooms
21
Appliances
Other
Fireplace
No
Cooling
Yes
Cooling Description
Other
Heating
Yes
Heating Description
Other
Exterior/Building Features
Lot Size
0.34 Acres
Other Property Details
Area Name
Hollywood
Days on Market
15
Garage
No
Parking
Assigned
Parking Total
21
View
No
County
Los Angeles
Pool
No
Zoning
LAR3
Listed by Roderick 'Rick' Raymundo with Marcus & Millichap
Listing Contact: 818-219-6146
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Adam Kang shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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Data last updated 9/13/2024