519 N Alexandria Avenue Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90004
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID GD25175188
Bedrooms 5
Property Sub-Type Res Income 2-4 Units
Property Description
Fantastic investment opportunity located in one of the most desirable pockets of Hollywood. This unique property consists of two large units totaling over 3,000 square feet in the character-rich main building, originally constructed in 1922, along with a detached one-bedroom house built in 1947. Positioned on a sloped lot, the property offers Pick-a-boo views of the surrounding city and skyline. The location is exceptionally convenientjust minutes from major thoroughfares, freeway access, and downtown Los Angelesmaking it highly attractive to future tenants or end-users alike. The property may need some fixing as current ownership has lived on the property for over 30 Years. With pro forma figures showing a GRM around 10x and a projected CAP rate of approximately 6.7%, the financial potential here is significant. Additionally, the property includes a three-car garage with excellent ADU conversion potential, creating an opportunity to increase returns even further. Some updates are needed, but the solid structure, generous unit sizes, and unbeatable location provide a strong foundation for long-term appreciation and income. A rare find in today's marketideal for investors, owner-users, or developers seeking value-add upside in a prime Hollywood location.
Location
State CA
County Los Angeles
Zoning Assessor
Exterior
View Y/N No
Building
Story 2