1156 Gordon ST Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90038
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR24242436
HOA Y/N No
Year Built 1910
Lot Size 6,507 Sqft
Property Description
We are pleased to present an unbeatable value add investment opportunity with immense rental upside in the heart of Hollywood! Standing on a +/- 6,504 sq ft. lot on the corner of Lexington Ave and Gordon St is a 6 unit building with 5 UNITS DELIVERED VACANT. There are 2 structures on the lot consisting of a 4 unit building and a duplex. All units are spacious and feature 1920's period details. Consists of six 1 bedroom / 1 bath units. The building has a newer roof, copper plumbing, and separate meters for gas and electric. The vacant units present the perfect opportunity to cosmetically remodel the interiors and achieve market rents. The occupied unit is already rented at close to market. When the vacant units are remodeled and rented, the building will generate approximately $150,288 in gross income and operate at a cap rate of at least 6%. The lot also includes 2 garages and an uncovered parking area, which can be used to build 1 or more ADUs for additional income. Less than 1 mile from the Netflix HQ, Paramount Pictures, and many other entertainment/media companies, the building is in a highly desirable rental market with close proximity to Hollywood attractions, the 101 freeway, and Downtown LA.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LAR3
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Driveway,Garage
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Curbs,Gutter(s),Storm Drain(s),Street Lights,Suburban,Sidewalks
Total Parking Spaces 5
Private Pool No
Building
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5534012024
Acceptable Financing Cash,Cash to New Loan,Conventional
Listing Terms Cash,Cash to New Loan,Conventional
Special Listing Condition Standard
Lease Land No