1801 N. Harvard is a well-maintained eight-unit property in East Hollywood operating at a 4.45% cap and 13.50 GRM on current rents. Located just south of Franklin Ave (adjacent to Los Feliz), the subject property is conveniently located by several neighborhood hubs filled with large Hollywood employers (Children’s Hospital LA, Hollywood Presbyterian, Sunset Gower Studios), a city college (LACC) and a wide array of independent businesses. Built in 1956, 1801 N. Harvard features (1) 2-bdrm. unit and (7) 1-bdrm. units that average appro 800 SF each. These units present a value-add opportunity, as current rents are approx. 21% below market compared to renovated units in the area. Capital improvements include a new roof and fresh exterior paint. Please note, soft-story retrofitting is not required.
8 Units with 4.45% CAP & 13.5 GRM on Current Rents
1801 N. Harvard Boulevard, East Hollywood
Property Details
Price $2,300,000
Year Built 1956
# of Units 8
Price P/ Unit $287,500
Sq. ft. 6,887 SF
Price p/ Sq. ft. $334
Current Cap Rate 4.45%
Proforma Cap Rate 6.00%
Lot Size 7,383 SF
Zoning LAR3
