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$ 3,995,000
Est. payment /mo
New
5741 Virginia AVE Los Angeles, CA 90038
20 Beds
21 Baths
11,599 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 11,599 sqft
Price per Sqft $344
MLS Listing ID 26866075
Bedrooms 20
HOA Y/N No
Year Built 1967
Lot Size 0.344 Acres
Property Description
Available at only a 9.55 GRM based on current income and merely $190,238 per unit, the asset is priced attractively for a new investor. The current owner has thoroughly remodeled several units, while the exterior paint, roof coating, landscaping and driveway gate have all been recently updated. Select interiors have been upgraded with granite countertops, stainless steel appliances, wood flooring, new cabinets, and remodeled bathrooms. A new investor can enjoy strong cash flow free from any costly seismic retrofit repairs, as those have all been completed and filed with the city (Buyer to verify). Located near Sunset Boulevard, the property provides tenants with convenient access to several Hollywood destinations as well as the rest of the Los Angeles metro, via the nearby 101 Freeway. The exclusive Hancock Park neighborhood is only a few blocks southwest, while Koreatown and the Hollywood Walk of Fame are both nearby as well. The new 14-story ICON office tower, primarily leased to Netflix, was recently completed at the nearby Sunset Bronson Studios, while additional new construction is scheduled for Sunset Gower Studios, just one mile from the property. There, a joint venture between Hudson Pacific Properties and The Blackstone Group will be expanding the studio and office space, adding 620,000 square feet to the studio campus. The property is just north of Paramount Studios, the Hollywood Forever Cemetery, and Melrose Hill. The Melrose Hill neighborhood was recently named Los Angeles' Hottest Culinary Boom Town by Eater Los Angeles. Several exciting dining options have recently debuted in the immediate area, including Etra, Kuya Lord, Ggiata, Caf Telegrama, and Le Coupe. Tenants can look forward to even more culinary options in the near future, as Little Fish, Bar Etoile, and Holy Basil are slated to open as well.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Assigned
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5536006026
Special Listing Condition Standard
Listed by Roderick 'Rick' Raymundo Marcus & Millichap #01357019
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