Active
5741 Virginia Avenue
Los Angeles CA, 90038
$4,546,000
$391.93 per sqft
Active
20 Beds
21 Baths
11,599 sqft
Residential
Built in 1967
Listed by Roderick 'Rick' Raymundo with Marcus & Millichap 213-943-1855
Available at only a 10.99 GRM based on current income and merely $216,476 per unit, the asset is priced attractively for a new investor. The current owner has thoroughly remodeled several units, while the exterior paint, 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.
24423995
MLSⓇ ID
August 5, 2024
Listed
September 13, 2024
Updated
Map
5741 Virginia Avenue
Los Angeles CA, 90038
Interior Features
Total Stories
2
Bedrooms
20
Total Bathrooms
21
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.34 Acres
Other Property Details
Area Name
C20 - Hollywood
Days on Market
15
Garage
No
Parking
Assigned
Parking Total
21
View
No
County
Los Angeles
Pool
No
Zoning
LAR3
Listing Contact: 818-212-2700
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 9/13/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 9/13/2024 at 3:14 PM UTC