Property Details.

Price $2,795,000

Year Built 1988

# of Units 10

Price P/ Unit $279,500

Sq. ft. 8,760

Price p/ Sq. ft. $319

Current Cap Rate 4.13%

Proforma Cap Rate 7.84%

Lot Size 10,319

Zoning LARD1.5

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5380 Romaine Street
Los Angeles, CA 90029

About The Property

5380 Romaine Street, a 10-unit apartment complex located just south of Santa Monica Boulevard in the highly sought after submarket of Hollywood. Sitting on a 8,760 SF lot zoned LARD1.5, the property features an ideal unit mix comprised of (4) two bedroom and two bath units and (6) two bedroom and one bath units. The subject property presents significant value-add opportunity to investors, as current rents are approximately 56% below market value for nicely remodeled units in the area. Additional property amenities include an on-site laundry facility and eight parking spaces. Please note, there is no seismic retrofitting required (buyer to verify).

With a location consistently under high demand and significant upside in rents, 5380 Romaine presents investors with the opportunity to purchase an asset with incredible promise in the ever-growing submarket of Hollywood.

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