439 N. Hayworth is a value-add fourplex in the heart of the Fairfax District, an “A+” rental market under constant demand by high-income young professionals. Located blocks from The Grove and several other thriving neighborhood hubs (Melrose Ave, Fairfax Ave, West 3rd St), this charming French-Normandy style fourplex is near various trendsetting retailers, heavily-visited restaurants, and lively nightlife options. 439 N. Hayworth features (4) spacious 2-bdrm units that average approx. 1,175 SF. Please note that one unit is currently VACANT, and a section-8 tenant rents another. This Fairfax District investment opportunity presents a substantial value add opportunity, as rents are approx. 42% below market compared to renovated units in the area. 439 N. Hayworth stabilizes at a 5.26% CAP and 13.74 GRM. Property amenities include (2) 2-car garages that generate additional income and a community laundry room.
Fourplex Blocks From The Grove w/ 42% Rental Upside
439 N. Hayworth Avenue, Fairfax District
Property Details
Price $1,999,000
Year Built 1949
# of Units 4
Price P/ Unit $499,750
Sq. ft. 4,709 SF
Price p/ Sq. ft. $425
Current Cap Rate 3.17%
Proforma Cap Rate 5.26%
Lot Size 6,613 SF
Zoning LAR3
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About the Property
