1770 El Cerrito Place
Los Angeles, CA 90028
Map
- – beds
- – baths
- – sqft
- 11,040 sqft lot
- 1958 build
- – on site
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Huge 1.2M Price Reduction! 16-unit building with 9 vacancies priced at only 299k/door for prime Hollywood in an opportunity zone. Cash flowing at an amazing 6% Cap Rate and 12 GRM on existing after renovations with an incredible upside to an 8.4% Cap Rate and 9.1 GRM on proforma. Plus, there are 4 attached ADUs under construction with RTI plans to improve the numbers to only 239k/unit, 7.3% Cap Rate, and 10.2 GRM on current. All 9 vacant units and 4 ADUs are under renovation so buyers can complete them to their own taste and finishes and get top market rents (Most of the rough construction and heavy lifting have been done for the remodels). Great amenities such as Pool, Laundry Room, and carport garages. Individually metered for Gas & Electricity. Situated in the Heart of Hollywood, steps away from RunyonCanyon, Magic Castle, Yamashiro, and Hollywood Bowl! The soft story has already been completed and the roof has been recently updated. Potential to create and add a rooftop to maximize rents and amenities.
Last checked:
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Last updated Jan 12, 2024
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MLS# 23325357 —
The Building
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Year Built:1958
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New Construction:No
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Building Area Total:10166.00
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Total Number Of Units:16
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# of Buildings:1
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Architectural Style:Traditional
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Stories Total:2
Interior
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Levels:Two
Location
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Directions:Located North of Hollywood Blvd., South of Franklin and East of La Brea.
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Latitude:34.10336700
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Longitude:-118.34448300
The Property
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Property Type:Residential Income
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Property Condition:Fixer, Under Construction, Repairs Cosmetic
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Zoning:LAR4
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Lot Size Area:11040.0000
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Lot Size Acres:0.2534
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Lot Size SqFt:11040.00
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Lot Size Source:Owner
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Security Features:Gated Community
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5548002027
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
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Cooling:No
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Cooling:None
The Community
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Association:No
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Senior Community:No
Parking
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Parking:Yes
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Parking:Covered
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Parking Spaces:12.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/12/24
Jan 12, 2024
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Sold | CRMLS_CA | $4,675,000 | -2.5% |
|
1/3/24
Jan 3, 2024
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Sold Subject To Contingencies | CRMLS_CA | $4,795,000 | |
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10/25/23
Oct 25, 2023
|
Listed / Active | CRMLS_CA | $4,795,000 | 33.2% (13.9% / YR) |
