Property Details

Price $3,800,000

Year Built 1965

# of Units 8

Price P/ Unit $475,000

Sq. ft. 7,442 SF

Price p/ Sq. ft. $511

Current Cap Rate 3.60%

Proforma Cap Rate 4.51%

Lot Size 6,589 SF

Zoning LAR2

About the Property

1900 Dracena Drive, an 8-unit apartment building located in a stellar location within the family-friendly and ultra-hip Los Feliz submarket. Located on a spacious corner lot just two blocks West of Hillhurst Avenue, the property resides within walking distance to some of the best eating, dining and nightlife options the neighborhood has to offer. Constructed in 1965, the two-story building is comprised of (6) 2-bdrm. and 2-bath units and (2) 1-bdrm. units. Property amenities include a gated, subterranean garage (7 enclosed spaces and 1 open space) and a community laundry room. Located in a prime location of a highly-demanded rental market, 1900 Dracena stands to be a ‘Grade A’ investment for years to come.

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