5741 Virginia Ave

 

5741 Virginia Ave | Hollywood, California | 90038

$3,960,000

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ABOUT

  • Year Built: 1967
  • Type: Apartment
  • Units: 21
  • GRM: 16.12
  • Cap Rate: 3.47%
  • Bldg Size: 11,599 Sq Ft.
  • Lot Size: 15,000 Sq Ft.

AGENT

 

ADDITIONAL INFORMATION

  • Significant Upside in Rents
  • Six Blocks from Metro Red Line
  • Easily Accessible Parking
  • Great Hollywood Location

The Virginia Ave Apartments consist of a 21-unit apartment building located in the city of Los Angeles (Hollywood), California. It is one block north of Santa Monica Blvd and one block east of N Bronson Ave.

The property consists of an 11,599 sf, 2-story, wood-framed stucco building built on a 15,000 sf lot. The building offers a unit mix comprised of two singles, eighteen 1+1 units, and one 2+1 unit. There is on-site laundry, twenty-one parking spaces, and solar panels on the roof. The building is master-metered for gas.

The subject property is only five blocks from the Metro Red Line and is situated in the heart of Hollywood, known for such tourist attractions as the TCL Chinese Theatre, the Pantages and Dolby Theatres, as well as home to many major motion picture production companies and studios.

Virginia Ave Apartments is an excellent investment opportunity that offers solid appreciation potential and upside in rents. Additionally, the building offers increased income potential to value-add investors based on future upgrades. This property is primed to be an ideal value-add
addition to any apartment portfolio.