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

About the Property

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.

Like this property?

Contact Kenny Stevens about it!

Related Listings

Front of 439 Hayworth, a fourplex near The Grove

Fourplex Blocks From The Grove w/ 42% Rental Upside

439 N. Hayworth Avenue
Los Angeles, CA 90048

Price $1,999,000

City Fairfax District

Units 4